Citigroup Inc. (NYSE:C) Stake Lifted by Schnieders Capital Management LLC

Key Points

• Schnieders Capital Management LLC increased its holdings in Citigroup Inc. by 33.5% during the first quarter, owning 14,956 shares worth approximately $1,062,000.
• Citigroup recently disclosed a quarterly dividend increase to $0.60 per share, reflecting a total annualized dividend of $2.40 and a yield of 2.6%.
• Wall Street analysts have mixed outlooks on Citigroup, with price targets ranging from $77.00 to $107.00, and a consensus rating of "Moderate Buy".

Schnieders Capital Management LLC lifted its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 33.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,956 shares of the company's stock after purchasing an additional 3,753 shares during the quarter. Schnieders Capital Management LLC's holdings in Citigroup were worth $1,062,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. True Wealth Design LLC raised its holdings in shares of Citigroup by 11.1% during 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 boosted its holdings in Citigroup by 1.9% in the 4th quarter. Continuum Advisory LLC now owns 6,519 shares of the company's stock worth $459,000 after acquiring an additional 120 shares during the period. Solitude Financial Services grew its position in Citigroup by 0.9% in the first quarter. Solitude Financial Services now owns 16,496 shares of the company's stock valued at $1,171,000 after acquiring an additional 140 shares in the last quarter. Insight Inv LLC raised its stake in shares of Citigroup by 0.5% during the first quarter. Insight Inv LLC now owns 27,268 shares of the company's stock valued at $1,936,000 after purchasing an additional 146 shares during the period. Finally, Trust Co. of Vermont raised its stake in shares of Citigroup by 14.3% during the first quarter. Trust Co. of Vermont now owns 1,196 shares of the company's stock valued at $85,000 after purchasing an additional 150 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

C has been the subject of several analyst reports. Oppenheimer upped their target price on shares of Citigroup from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Cowen initiated coverage on shares of Citigroup in a report on Wednesday, May 14th. They issued a "hold" rating on the stock. Morgan Stanley raised their target price on Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. TD Cowen lifted their target price on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday, July 16th. Finally, Evercore ISI set a $77.00 price target on Citigroup in a report on Monday, July 7th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $96.54.

Insider Buying and Selling at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the sale, the director owned 2,140 shares in the company, valued at $193,456. This represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Stock Performance

Shares of C traded down $0.92 during mid-day trading on Thursday, hitting $91.31. The stock had a trading volume of 12,938,981 shares, compared to its average volume of 16,932,436. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $96.90. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. The company has a market cap of $170.54 billion, a PE ratio of 13.49, a PEG ratio of 0.79 and a beta of 1.38. The company's fifty day simple moving average is $85.72 and its two-hundred day simple moving average is $77.33.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) 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 analysts' expectations of $20.75 billion. During the same period last year, the business posted $1.52 earnings per share. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from Citigroup's previous quarterly dividend of $0.56. Citigroup's payout ratio is currently 35.45%.

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.