TD Asset Management Inc Acquires 51,896 Shares of Citigroup Inc. (NYSE:C)

Key Points

• TD Asset Management Inc has increased its stake in Citigroup by 4.9%, owning 1,121,600 shares valued at approximately $79.62 million.
• Citigroup recently announced a quarterly dividend of $0.60, marking an increase from the previous $0.56, with a current yield of 2.50%.
• The company's latest earnings report showed an EPS of $1.96, exceeding estimates, and revenue of $21.67 billion, reflecting an 8.2% year-over-year increase.

TD Asset Management Inc lifted its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 4.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,121,600 shares of the company's stock after purchasing an additional 51,896 shares during the quarter. TD Asset Management Inc owned about 0.06% of Citigroup worth $79,622,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC raised its position in Citigroup by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company's stock valued at $2,853,484,000 after purchasing an additional 667,357 shares during the period. Price T Rowe Associates Inc. MD raised its position in Citigroup by 2.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company's stock valued at $2,714,359,000 after purchasing an additional 815,003 shares during the period. FMR LLC raised its position in Citigroup by 29.7% in the fourth quarter. FMR LLC now owns 34,362,176 shares of the company's stock valued at $2,418,754,000 after purchasing an additional 7,863,718 shares during the period. Franklin Resources Inc. raised its position in Citigroup by 9.3% in the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock valued at $2,311,048,000 after purchasing an additional 2,804,850 shares during the period. Finally, Capital World Investors raised its position in Citigroup by 455.2% in the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company's stock valued at $2,206,908,000 after purchasing an additional 25,705,141 shares during the period. Institutional investors and hedge funds own 71.72% of the company's stock.

Insider Activity at Citigroup

In other news, 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 transaction of $271,200.00. Following the sale, the director directly owned 2,140 shares of the company's stock, valued at $193,456. This represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. TD Cowen raised their price objective on Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a research report on Wednesday, July 16th. Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. UBS Group reaffirmed a "neutral" rating and set a $89.00 target price on shares of Citigroup in a research report on Tuesday, July 15th. The Goldman Sachs Group lifted their target price on Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, Barclays lifted their target price on Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $96.54.

Citigroup Price Performance

NYSE:C traded down $1.06 during mid-day trading on Thursday, hitting $94.75. The company's stock had a trading volume of 4,796,338 shares, compared to its average volume of 15,868,938. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $96.90. 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 company has a market capitalization of $176.97 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 0.81 and a beta of 1.34. The stock has a fifty day moving average of $83.58 and a 200-day moving average of $76.72.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.52 earnings per share. As a group, equities analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently declared 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 a boost from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Monday, August 4th. Citigroup's dividend payout ratio is 33.09%.

Citigroup 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.