Skandinaviska Enskilda Banken AB publ Acquires 536,260 Shares of Citigroup Inc. (NYSE:C)

Key Points

• Skandinaviska Enskilda Banken AB publ raised its stake in Citigroup by 91% in the first quarter, acquiring an additional 536,260 shares, bringing its total holdings to approximately 1.125 million shares valued at nearly $80 million.
• Citigroup announced an increase in its quarterly dividend from $0.56 to $0.60 per share, representing an annual yield of 2.52% and a payout ratio of 33.09%.
• Analysts have provided mixed ratings on Citigroup, with 10 buy ratings and 6 hold ratings, indicating a consensus rating of "Moderate Buy" and an average price target of $96.46.

Skandinaviska Enskilda Banken AB publ grew its stake in Citigroup Inc. (NYSE:C - Free Report) by 91.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,125,279 shares of the company's stock after acquiring an additional 536,260 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.06% of Citigroup worth $79,974,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in C. Orion Capital Management LLC bought a new stake in shares of Citigroup in the fourth quarter valued at approximately $28,000. MorganRosel Wealth Management LLC acquired a new position in Citigroup in the 1st quarter valued at $28,000. American National Bank & Trust acquired a new stake in shares of Citigroup during the 1st quarter worth $29,000. Mascagni Wealth Management Inc. bought a new position in shares of Citigroup in the fourth quarter worth $34,000. Finally, Whipplewood Advisors LLC increased its position in shares of Citigroup by 79.2% in the first quarter. Whipplewood Advisors LLC now owns 570 shares of the company's stock worth $40,000 after purchasing an additional 252 shares during the period. Institutional investors and hedge funds own 71.72% of the company's stock.

Citigroup Stock Up 0.7%

Shares of NYSE C traded up $0.65 during trading on Friday, hitting $96.04. 13,537,763 shares of the company traded hands, compared to its average volume of 16,283,003. 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. The business's fifty day moving average is $82.36 and its 200 day moving average is $76.27. 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 Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $96.90.

Citigroup (NYSE:C - Get Free Report) last posted its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, beating 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 company had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same quarter last year, the company earned $1.52 earnings per share. The company's revenue for the quarter was up 8.2% on a year-over-year basis. Equities research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently declared 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. This is a positive change from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Monday, August 4th. Citigroup's dividend payout ratio (DPR) is presently 33.09%.

Insider Activity

In other news, Director John Cunningham Dugan sold 4,417 shares of the business's stock in a transaction that occurred on 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 $890,656.48. The trade was a 25.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter B. Henry sold 3,000 shares of the stock in a transaction that occurred 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 sale, the director directly 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 disclosure for this sale can be found here. Company insiders own 0.08% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on C shares. UBS Group restated a "neutral" rating and issued a $89.00 target price on shares of Citigroup in a research report on Tuesday, July 15th. Cowen started coverage on Citigroup in a research note on Wednesday, May 14th. They set a "hold" rating for the company. Royal Bank Of Canada decreased their price target on Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Oppenheimer upped their price objective on Citigroup from $107.00 to $123.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Finally, Barclays raised their price objective on Citigroup from $95.00 to $100.00 and gave the company an "overweight" rating in a research note 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.46.

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.