Citigroup Inc. (NYSE:C) Stock Position Boosted by Raiffeisen Bank International AG

Key Points

• Raiffeisen Bank International AG increased its stake in Citigroup Inc. by 10.9% in the first quarter, owning a total of 72,968 shares valued at approximately $5.13 million.
• Citigroup has declared a quarterly dividend of $0.60 per share, an increase from the previous $0.56, representing an annualized yield of 2.6%.
• Analysts have a consensus rating of "Moderate Buy" on Citigroup stock with an average target price of $96.54, indicating positive expectations for its future performance.

Raiffeisen Bank International AG raised its position in Citigroup Inc. (NYSE:C - Free Report) by 10.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,968 shares of the company's stock after acquiring an additional 7,195 shares during the period. Raiffeisen Bank International AG's holdings in Citigroup were worth $5,132,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Smithfield Trust Co lifted its holdings in Citigroup by 89.8% in the first quarter. Smithfield Trust Co now owns 797 shares of the company's stock valued at $58,000 after acquiring an additional 377 shares during the period. Blair William & Co. IL lifted its stake in shares of Citigroup by 5.9% in the 1st quarter. Blair William & Co. IL now owns 161,190 shares of the company's stock valued at $11,443,000 after purchasing an additional 9,047 shares during the last quarter. Argent Trust Co lifted its stake in Citigroup by 1.8% during the first quarter. Argent Trust Co now owns 57,027 shares of the company's stock worth $4,048,000 after purchasing an additional 1,019 shares in the last quarter. Generation Capital Management LLC purchased a new position in shares of Citigroup in the first quarter valued at approximately $1,220,000. Finally, Manchester Capital Management LLC increased its stake in Citigroup by 2.3% during the 1st quarter. Manchester Capital Management LLC now owns 12,752 shares of the company's stock worth $905,000 after buying an additional 286 shares during the period. 71.72% of the stock is owned by hedge funds and other 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.08% of the company's stock.

Citigroup Stock Performance

Shares of C traded down $0.57 during midday trading on Tuesday, reaching $91.52. 19,835,504 shares of the stock were exchanged, compared to its average volume of 16,683,198. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $96.90. 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 company has a market capitalization of $170.93 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 0.79 and a beta of 1.38. The business's 50-day moving average price is $84.73 and its 200 day moving average price is $77.05.

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, beating the consensus estimate of $1.61 by $0.35. The business had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The business's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.52 earnings per share. On average, sell-side analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend 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 dividend yield of 2.6%. Citigroup's payout ratio is currently 35.45%.

Wall Street Analyst Weigh In

Several equities analysts have commented on C shares. Oppenheimer boosted their price target on shares of Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada decreased their price objective on Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Wells Fargo & Company upped their target price on shares of Citigroup from $110.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Piper Sandler raised their target price on shares of Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, Evercore ISI set a $77.00 price target on shares of Citigroup in a research note on Monday, July 7th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $96.54.

Citigroup Company 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.