Citigroup Inc. (NYSE:C) Shares Bought by Sound Shore Management Inc. CT

Sound Shore Management Inc. CT boosted its holdings in Citigroup Inc. (NYSE:C - Free Report) by 10.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,357,898 shares of the company's stock after acquiring an additional 131,386 shares during the period. Citigroup accounts for about 3.4% of Sound Shore Management Inc. CT's investment portfolio, making the stock its 5th largest position. Sound Shore Management Inc. CT owned about 0.07% of Citigroup worth $96,397,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in C. True Wealth Design LLC lifted its holdings in Citigroup by 11.1% in the 4th quarter. True Wealth Design LLC now owns 1,195 shares of the company's stock valued at $84,000 after purchasing an additional 119 shares in the last quarter. Continuum Advisory LLC lifted its holdings in shares of Citigroup by 1.9% during 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. Insight Inv LLC lifted its holdings in shares of Citigroup by 0.5% during the 1st quarter. Insight Inv LLC now owns 27,268 shares of the company's stock worth $1,936,000 after acquiring an additional 146 shares during the period. Trust Co. of Vermont lifted its holdings in shares of Citigroup by 14.3% during the 1st quarter. Trust Co. of Vermont now owns 1,196 shares of the company's stock worth $85,000 after acquiring an additional 150 shares during the period. Finally, Mystic Asset Management Inc. lifted its holdings in shares of Citigroup by 0.5% during the 1st quarter. Mystic Asset Management Inc. now owns 29,100 shares of the company's stock worth $2,066,000 after acquiring an additional 150 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Price Performance

Shares of C stock traded up $0.65 during trading hours on Friday, hitting $96.04. 13,537,763 shares of the company's stock were exchanged, compared to its average volume of 16,283,003. The stock's 50-day moving average is $82.36 and its 200-day moving average is $76.25. 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 stock has a market cap of $179.37 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 0.82 and a beta of 1.34. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $96.90.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates 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%. Citigroup's revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.52 earnings per share. As a group, research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be paid a dividend of $0.60 per share. This is an increase from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Monday, August 4th. Citigroup's payout ratio is currently 33.09%.

Insider Activity at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the transaction, the director directly owned 2,140 shares in the company, valued at approximately $193,456. The trade was a 58.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Cunningham Dugan sold 4,417 shares of Citigroup 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 sale, the director directly owned 13,048 shares of the company's stock, valued at approximately $890,656.48. The trade was a 25.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

C has been the topic of several research reports. UBS Group restated a "neutral" rating and issued a $89.00 price target on shares of Citigroup in a report on Tuesday, July 15th. TD Cowen raised their price target on shares of Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods restated a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. JPMorgan Chase & Co. cut their price target on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Finally, Wall Street Zen upgraded shares of Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.