QRG Capital Management Inc. Raises Stock Position in Citigroup Inc. (NYSE:C)

QRG Capital Management Inc. raised its position in Citigroup Inc. (NYSE:C - Free Report) by 26.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 389,198 shares of the company's stock after purchasing an additional 80,822 shares during the quarter. QRG Capital Management Inc.'s holdings in Citigroup were worth $27,629,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in C. Orion Capital Management LLC purchased a new position in shares of Citigroup during the fourth quarter worth approximately $28,000. American National Bank & Trust bought a new position in Citigroup in the first quarter worth approximately $29,000. Mascagni Wealth Management Inc. purchased a new position in Citigroup during the 4th quarter worth $34,000. Creative Capital Management Investments LLC bought a new stake in Citigroup during the 4th quarter valued at $35,000. Finally, Sierra Ocean LLC purchased a new stake in shares of Citigroup in the 4th quarter worth $37,000. Institutional investors own 71.72% of the company's stock.

Citigroup Stock Performance

Shares of C traded up $1.65 during trading hours on Monday, reaching $78.01. 10,391,782 shares of the company traded hands, compared to its average volume of 14,530,124. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The business has a fifty day moving average price of $71.01 and a 200-day moving average price of $73.05. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The stock has a market capitalization of $145.71 billion, a P/E ratio of 13.11, a P/E/G ratio of 0.64 and a beta of 1.33.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.84 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Equities analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup's payout ratio is 35.39%.

Insider Activity

In related news, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the sale, the director now directly owns 13,048 shares of the company's stock, valued at approximately $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on C. JPMorgan Chase & Co. lowered their price objective on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Cowen initiated coverage on shares of Citigroup in a report on Wednesday, May 14th. They set a "hold" rating on the stock. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $92.00 target price (down previously from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. Morgan Stanley reduced their price target on Citigroup from $110.00 to $109.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Finally, Evercore ISI dropped their price objective on Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a research report on Tuesday, April 1st. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Citigroup presently has an average rating of "Moderate Buy" and an average price target of $84.30.

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.