Ruffer LLP Has $233.30 Million Stake in Citigroup Inc. (NYSE:C)

Key Points

• Ruffer LLP reduced its stake in Citigroup Inc. by 6.2%, holding approximately 3.29 million shares valued at $233.30 million, making Citigroup the firm's third-largest portfolio holding.
• Citigroup's quarterly earnings exceeded expectations, reporting an EPS of $1.96, and its revenue increased by 8.2% year-over-year to $21.67 billion.
• The company announced a quarterly dividend increase from $0.56 to $0.60 per share, representing an annualized dividend of $2.40 and a yield of 2.6%.

Ruffer LLP reduced its holdings in Citigroup Inc. (NYSE:C - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 3,286,401 shares of the company's stock after selling 215,433 shares during the quarter. Citigroup makes up about 9.0% of Ruffer LLP's portfolio, making the stock its 3rd largest holding. Ruffer LLP owned about 0.17% of Citigroup worth $233,304,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of C. Orion Capital Management LLC bought a new stake in shares of Citigroup during the 4th quarter valued at about $28,000. MorganRosel Wealth Management LLC acquired a new stake in shares of Citigroup during the 1st quarter worth approximately $28,000. Accent Capital Management LLC increased its stake in shares of Citigroup by 106.0% in the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company's stock valued at $29,000 after acquiring an additional 212 shares in the last quarter. American National Bank & Trust acquired a new position in shares of Citigroup during the 1st quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in Citigroup during the fourth quarter worth $34,000. Institutional investors own 71.72% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the company. UBS Group reissued a "neutral" rating and set a $89.00 price objective on shares of Citigroup in a report on Tuesday, July 15th. Barclays increased their price target on Citigroup from $95.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Wells Fargo & Company lifted their price objective on shares of Citigroup from $110.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. The Goldman Sachs Group increased their target price on shares of Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, Morgan Stanley upped their price objective on shares of Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Citigroup currently has an average rating of "Moderate Buy" and an average target price of $96.54.

Insider Activity at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of Citigroup 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 sale, the director owned 2,140 shares of the company's stock, valued at $193,456. The trade was a 58.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.08% of the company's stock.

Citigroup Trading Down 0.6%

Shares of Citigroup stock traded down $0.57 during midday trading on Tuesday, reaching $91.52. 19,835,504 shares of the company's stock traded hands, compared to its average volume of 16,683,198. The stock has a 50 day moving average of $85.06 and a 200-day moving average of $77.15. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $96.90. The company has a market cap of $170.93 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 0.79 and a beta of 1.38. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.99.

Citigroup (NYSE:C - Get Free Report) last released its quarterly 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 company had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The firm's revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 earnings per share. As a group, equities analysts expect 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 $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. 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. Citigroup's dividend payout ratio is 35.45%.

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.