Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 46.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,906,709 shares of the company's stock after purchasing an additional 603,023 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.10% of Citigroup worth $135,357,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in C. LSV Asset Management increased its holdings in Citigroup by 0.3% during the 1st quarter. LSV Asset Management now owns 6,452,933 shares of the company's stock worth $458,094,000 after purchasing an additional 17,782 shares during the period. TIAA Trust National Association increased its stake in shares of Citigroup by 11.0% during the first quarter. TIAA Trust National Association now owns 17,853 shares of the company's stock worth $1,267,000 after buying an additional 1,775 shares during the period. Asset Planning Inc purchased a new position in Citigroup in the first quarter worth approximately $573,000. Baker Avenue Asset Management LP lifted its stake in Citigroup by 16.5% in the first quarter. Baker Avenue Asset Management LP now owns 24,269 shares of the company's stock worth $1,723,000 after acquiring an additional 3,440 shares during the last quarter. Finally, Blueshift Asset Management LLC acquired a new position in Citigroup during the 1st quarter worth approximately $777,000. Institutional investors and hedge funds own 71.72% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on C shares. Evercore ISI set a $77.00 price objective on Citigroup in a research report on Monday, July 7th. Bank of America increased their price target on shares of Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Barclays upped their target price on shares of Citigroup from $95.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Oppenheimer lifted their price target on shares of Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Finally, Wells Fargo & Company raised their price objective on Citigroup from $110.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $96.54.
Read Our Latest Report on Citigroup
Insider Buying and Selling at Citigroup
In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the sale, the director directly owned 2,140 shares of the company's stock, valued at approximately $193,456. This represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.08% of the company's stock.
Citigroup Trading Up 0.2%
C traded up $0.20 on Monday, reaching $92.03. 11,609,878 shares of the company's stock were exchanged, compared to its average volume of 16,722,995. The company's 50 day moving average is $84.36 and its 200-day moving average is $76.96. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.99. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $96.90. The company has a market cap of $171.89 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 0.79 and a beta of 1.38.
Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The business had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. During the same period last year, the business earned $1.52 EPS. The business's revenue was up 8.2% on a year-over-year basis. Equities analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.
Citigroup Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a $2.40 annualized dividend and a yield of 2.6%. This is an increase from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio (DPR) is 33.09%.
About Citigroup
(
Free Report)
Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.
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