SlateStone Wealth LLC Grows Stock Holdings in Citigroup Inc. (NYSE:C)

Key Points

• SlateStone Wealth LLC increased its stake in Citigroup by 85.4%, acquiring 3,930 shares, bringing its total to 8,532 shares valued at $606,000.
• Citigroup announced a quarterly dividend increase to $0.60 per share, yielding 2.50%, effective for investors of record on August 4th.
• Recent earnings show Citigroup surpassed expectations, reporting $1.96 EPS for the quarter, exceeding analysts' forecasts of $1.61.

SlateStone Wealth LLC grew its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 85.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,532 shares of the company's stock after buying an additional 3,930 shares during the quarter. SlateStone Wealth LLC's holdings in Citigroup were worth $606,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Invesco Ltd. increased its position in shares of Citigroup by 13.8% during the fourth quarter. Invesco Ltd. now owns 16,247,095 shares of the company's stock worth $1,143,633,000 after acquiring an additional 1,970,300 shares during the period. Brighton Jones LLC boosted its stake in Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after acquiring an additional 12,499 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in Citigroup by 109.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company's stock valued at $88,458,000 after acquiring an additional 649,807 shares in the last quarter. Onyx Bridge Wealth Group LLC purchased a new position in shares of Citigroup in the first quarter worth $214,000. Finally, Pinnacle Financial Partners Inc raised its holdings in shares of Citigroup by 495.1% in the first quarter. Pinnacle Financial Partners Inc now owns 18,554 shares of the company's stock worth $1,317,000 after buying an additional 15,436 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Trading Down 2.0%

Shares of C stock traded down $1.86 during trading hours on Friday, hitting $91.84. The company had a trading volume of 17,720,586 shares, compared to its average volume of 15,836,717. The company's fifty day moving average is $84.36 and its 200 day moving average is $76.98. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $96.90. The stock has a market capitalization of $171.53 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 0.81 and a beta of 1.38.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.61 by $0.35. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The firm had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same period in the prior year, the business posted $1.52 EPS. The business's revenue for the quarter was up 8.2% compared to the same quarter last year. Research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently announced 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 is Monday, August 4th. This is an increase from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. Citigroup's payout ratio is presently 33.09%.

Insider Activity at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the transaction, the director owned 2,140 shares of the company's stock, valued at approximately $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

C has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Royal Bank Of Canada lowered their price objective on Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. UBS Group reiterated a "neutral" rating and issued a $89.00 price objective on shares of Citigroup in a report on Tuesday, July 15th. Finally, Dbs Bank upgraded shares of Citigroup from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus 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.