Princeton Capital Management LLC Takes Position in Citigroup Inc. (NYSE:C)

Princeton Capital Management LLC bought a new position in shares of Citigroup Inc. (NYSE:C - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 26,053 shares of the company's stock, valued at approximately $1,849,000. Citigroup accounts for approximately 0.7% of Princeton Capital Management LLC's holdings, making the stock its 25th biggest position.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Journey Strategic Wealth LLC lifted its position in shares of Citigroup by 5.6% during the 1st quarter. Journey Strategic Wealth LLC now owns 7,437 shares of the company's stock worth $528,000 after buying an additional 397 shares during the period. Advisor OS LLC acquired a new stake in Citigroup during the 1st quarter valued at $266,000. Kovack Advisors Inc. increased its holdings in Citigroup by 3.6% during the 1st quarter. Kovack Advisors Inc. now owns 6,849 shares of the company's stock valued at $486,000 after purchasing an additional 240 shares in the last quarter. Ninepoint Partners LP acquired a new stake in Citigroup during the 1st quarter valued at $720,000. Finally, Diamond Hill Capital Management Inc. increased its holdings in Citigroup by 6.3% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 1,192,784 shares of the company's stock valued at $84,676,000 after purchasing an additional 70,783 shares in the last quarter. Institutional investors own 71.72% of the company's stock.

Citigroup Trading Up 0.7%

Shares of Citigroup stock traded up $0.65 during trading on Friday, reaching $96.04. 13,537,763 shares of the company were exchanged, compared to its average volume of 16,283,003. 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 twelve month low of $53.51 and a twelve month high of $96.90. The business has a 50-day moving average price of $82.36 and a 200-day moving average price of $76.27. The firm has a market capitalization of $179.37 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 0.83 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. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The business had revenue of $21.67 billion during the quarter, compared to analysts' expectations of $20.75 billion. During the same period in the previous year, the firm earned $1.52 earnings per share. The firm's quarterly revenue was up 8.2% compared to the same quarter last year. Sell-side analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced 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 is Monday, August 4th. This is a positive change from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a yield of 2.50%. Citigroup's payout ratio is currently 33.09%.

Wall Street Analyst Weigh In

C has been the subject of a number of recent analyst reports. Oppenheimer raised their price target on Citigroup from $107.00 to $123.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Cowen initiated coverage on Citigroup in a report on Wednesday, May 14th. They set a "hold" rating for the company. Barclays raised their price target on Citigroup from $95.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Piper Sandler reissued an "overweight" rating and issued a $104.00 target price (up from $84.00) on shares of Citigroup in a research note on Wednesday, July 16th. Finally, UBS Group reissued a "neutral" rating and issued a $89.00 target price on shares of Citigroup in a research note on Tuesday, July 15th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, Citigroup has a consensus rating of "Moderate Buy" and a consensus price target of $96.46.

Insider Activity

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction dated Wednesday, July 16th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the transaction, the director owned 13,048 shares in the company, valued at approximately $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.08% of the company's stock.

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.