Stevens Capital Management LP Purchases 11,960 Shares of Citigroup Inc. (NYSE:C)

Key Points

• Stevens Capital Management LP increased its stake in Citigroup by 142.0% during the 1st quarter, raising their holdings to 20,381 shares valued at approximately $1.45 million.
• Citigroup recently announced a quarterly dividend increase to $0.60 per share, up from $0.56, which gives an annualized dividend yield of 2.52%.
• Citigroup reported better-than-expected quarterly earnings, with $1.96 earnings per share compared to analysts' estimates of $1.61, and revenue of $21.67 billion significantly exceeding expectations.

Stevens Capital Management LP grew its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 142.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,381 shares of the company's stock after acquiring an additional 11,960 shares during the quarter. Stevens Capital Management LP's holdings in Citigroup were worth $1,447,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. American Century Companies Inc. boosted its holdings in Citigroup by 3.4% in the fourth quarter. American Century Companies Inc. now owns 352,948 shares of the company's stock valued at $24,844,000 after purchasing an additional 11,674 shares during the last quarter. Invesco Ltd. boosted its position in Citigroup by 13.8% during the 4th quarter. Invesco Ltd. now owns 16,247,095 shares of the company's stock valued at $1,143,633,000 after purchasing an additional 1,970,300 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in Citigroup by 109.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company's stock valued at $88,458,000 after purchasing an additional 649,807 shares during the period. Brighton Jones LLC raised its stake in shares of Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after purchasing an additional 12,499 shares in the last quarter. Finally, Onyx Bridge Wealth Group LLC bought a new position in shares of Citigroup in the first quarter valued at approximately $214,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was 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 in the company, valued at approximately $193,456. The trade was a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 completion of the sale, the director directly owned 13,048 shares in the company, valued at approximately $890,656.48. The trade was a 25.29% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

Citigroup Price Performance

Shares of C traded up $0.65 during trading hours on Friday, reaching $96.04. 13,537,763 shares of the company's stock traded hands, compared to its average volume of 16,283,003. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. The firm's 50 day simple moving average is $82.36 and its 200-day simple moving average is $76.27. The stock has a market cap of $179.37 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 0.83 and a beta of 1.34. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $96.90.

Citigroup (NYSE:C - Get Free Report) last released 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 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 the consensus estimate of $20.75 billion. During the same quarter in the previous year, the business earned $1.52 earnings per share. The company's quarterly revenue was up 8.2% on a year-over-year basis. Equities analysts expect 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. Shareholders of record on Monday, August 4th will be issued a $0.60 dividend. This is a positive change from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date is Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.50%. Citigroup's dividend payout ratio (DPR) is presently 33.09%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. 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 report on Wednesday, July 16th. Evercore ISI set a $77.00 price target on Citigroup in a research report on Monday, July 7th. Truist Financial increased their price objective on Citigroup from $93.00 to $99.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Keefe, Bruyette & Woods reiterated a "buy" rating on shares of Citigroup in a research note on Wednesday, July 16th. Finally, Royal Bank Of Canada cut their target price on Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock 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.