Navellier & Associates Inc. Has $836,000 Position in Citigroup Inc. (NYSE:C)

Key Points

• Navellier & Associates Inc. reduced its holdings in Citigroup Inc. by 21.1%, owning 11,898 shares valued at approximately $836,000 after selling 3,178 shares in the first quarter.
• Citigroup recently announced an increase in its quarterly dividend to $0.60 per share, representing a yield of 2.50%.
• Analysts have a consensus rating of "Moderate Buy" on Citigroup stocks, with price targets ranging from $77.00 to $100.00.

Navellier & Associates Inc. reduced its stake in Citigroup Inc. (NYSE:C - Free Report) by 21.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,898 shares of the company's stock after selling 3,178 shares during the period. Navellier & Associates Inc.'s holdings in Citigroup were worth $836,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Cetera Investment Advisers lifted its stake in shares of Citigroup by 14.1% in the 1st quarter. Cetera Investment Advisers now owns 430,965 shares of the company's stock worth $30,594,000 after acquiring an additional 53,321 shares during the period. Avantax Advisory Services Inc. lifted its stake in Citigroup by 8.6% during the first quarter. Avantax Advisory Services Inc. now owns 76,219 shares of the company's stock valued at $5,411,000 after purchasing an additional 6,061 shares during the last quarter. Brookwood Investment Group LLC acquired a new stake in Citigroup during the first quarter valued at approximately $228,000. Arlington Capital Management Inc. acquired a new stake in Citigroup during the first quarter valued at approximately $1,150,000. Finally, Sound Shore Management Inc. CT lifted its stake in Citigroup by 10.7% during the first quarter. Sound Shore Management Inc. CT now owns 1,357,898 shares of the company's stock valued at $96,397,000 after purchasing an additional 131,386 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Peter B. Henry sold 3,000 shares of the business's 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 transaction, the director directly owned 2,140 shares in the company, valued at approximately $193,456. The trade was a 58.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on C. Keefe, Bruyette & Woods restated a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. Wall Street Zen upgraded shares of Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Cowen began coverage on shares of Citigroup in a report on Wednesday, May 14th. They set a "hold" rating on the stock. Royal Bank Of Canada cut their price target on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Finally, Bank of America upped their price objective 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. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $96.54.

Citigroup Trading Up 0.8%

NYSE C traded up $0.80 during trading on Wednesday, reaching $95.28. 2,571,281 shares of the stock traded hands, compared to its average volume of 15,865,882. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $96.90. The stock's 50-day moving average price is $83.13 and its 200 day moving average price is $76.58. The firm has a market cap of $177.95 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 0.82 and a beta of 1.34.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. The business had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.52 earnings per share. Analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.52%. This is an increase from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Monday, August 4th. Citigroup's payout ratio is presently 33.09%.

About Citigroup

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.