PNC Financial Services Group Inc. Boosts Stock Position in Citigroup Inc. (NYSE:C)

PNC Financial Services Group Inc. increased its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 4.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 396,327 shares of the company's stock after purchasing an additional 16,704 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Citigroup were worth $28,135,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in C. True Wealth Design LLC grew its holdings in Citigroup by 11.1% in the 4th quarter. True Wealth Design LLC now owns 1,195 shares of the company's stock valued at $84,000 after buying an additional 119 shares during the period. Continuum Advisory LLC grew its holdings in shares of Citigroup by 1.9% during the 4th quarter. Continuum Advisory LLC now owns 6,519 shares of the company's stock worth $459,000 after purchasing an additional 120 shares during the period. Insight Inv LLC grew its holdings in shares of Citigroup by 0.5% during the 1st quarter. Insight Inv LLC now owns 27,268 shares of the company's stock worth $1,936,000 after purchasing an additional 146 shares during the period. Trust Co. of Vermont grew its holdings in shares of Citigroup by 14.3% during the 1st quarter. Trust Co. of Vermont now owns 1,196 shares of the company's stock worth $85,000 after purchasing an additional 150 shares during the period. Finally, Mystic Asset Management Inc. grew its holdings in shares of Citigroup by 0.5% during the 1st quarter. Mystic Asset Management Inc. now owns 29,100 shares of the company's stock worth $2,066,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insider Transactions at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction on Wednesday, July 16th. The stock was 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 in the company, valued at $193,456. This trade represents a 58.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.08% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on C. Morgan Stanley boosted their target price on Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. The Goldman Sachs Group boosted their target price on Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Oppenheimer boosted their target price on Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Cowen began coverage on Citigroup in a report on Wednesday, May 14th. They set a "hold" rating for the company. Finally, Barclays boosted their target price on Citigroup from $95.00 to $100.00 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 company's stock. Based on data from MarketBeat.com, Citigroup presently has a consensus rating of "Moderate Buy" and an average price target of $96.54.

Citigroup Stock Performance

Citigroup stock opened at $92.03 on Tuesday. The stock has a 50 day moving average of $84.73 and a 200-day moving average of $77.05. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $96.90. The stock has a market cap of $171.89 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 0.79 and a beta of 1.38. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The firm had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same period last year, the company earned $1.52 earnings per share. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. On average, analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal 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. The ex-dividend date of this dividend is Monday, August 4th. This is an increase from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a yield of 2.6%. Citigroup's dividend 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.

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