New Age Alpha Advisors LLC Acquires 74,292 Shares of Citigroup Inc. (NYSE:C)

Key Points

• New Age Alpha Advisors LLC increased its stake in Citigroup Inc. by 111.3%, acquiring an additional 74,292 shares, bringing their total holdings to 141,045 shares valued at approximately $10 million.
• Citigroup announced a quarterly dividend increase to $0.60 per share, up from $0.56, with a payout ratio of 33.09% and a dividend yield of 2.6%.
• Wells Fargo, Morgan Stanley, and other firms have raised their target prices on Citigroup shares, suggesting a "Moderate Buy" consensus rating among analysts.

New Age Alpha Advisors LLC increased its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 111.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 141,045 shares of the company's stock after purchasing an additional 74,292 shares during the period. New Age Alpha Advisors LLC's holdings in Citigroup were worth $10,013,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Orion Capital Management LLC purchased a new stake in Citigroup during the fourth quarter valued at approximately $28,000. MorganRosel Wealth Management LLC purchased a new stake in Citigroup during the first quarter valued at approximately $28,000. American National Bank & Trust purchased a new stake in Citigroup during the first quarter valued at approximately $29,000. Accent Capital Management LLC lifted its position in Citigroup by 106.0% during the first quarter. Accent Capital Management LLC now owns 412 shares of the company's stock valued at $29,000 after acquiring an additional 212 shares during the last quarter. Finally, Mascagni Wealth Management Inc. purchased a new stake in Citigroup during the fourth quarter valued at approximately $34,000. 71.72% of the stock is currently owned by institutional investors.

Insider Activity

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the completion of the transaction, the director owned 2,140 shares of the company's stock, valued at approximately $193,456. The trade was a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.08% of the stock is currently owned by company insiders.

Citigroup Trading Up 0.2%

Shares of Citigroup stock opened at $92.03 on Tuesday. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98. The firm has a fifty day moving average price of $84.73 and a 200 day moving average price of $77.05. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $96.90. The stock has a market cap of $171.89 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 0.79 and a beta of 1.38.

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

Citigroup Increases Dividend

The firm 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 annualized dividend and a dividend yield of 2.6%. This is a boost from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Monday, August 4th. Citigroup's dividend payout ratio is 33.09%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on C shares. Wells Fargo & Company increased their target price on shares of Citigroup from $110.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Morgan Stanley increased their target price on shares of Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Oppenheimer raised their price target on shares of Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. The Goldman Sachs Group raised their price target on shares of Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, TD Cowen raised their price target on shares of Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a report on Wednesday, July 16th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Citigroup currently has an average rating of "Moderate Buy" and a consensus price target of $96.54.

Citigroup Profile

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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