Townsquare Capital LLC Has $9.83 Million Holdings in Citigroup Inc. (NYSE:C)

Key Points

• Townsquare Capital LLC reduced its stake in Citigroup Inc. by 3.7%, owning 138,523 shares valued at approximately $9.83 million at the end of the most recent reporting period.
• Citigroup has raised its quarterly dividend from $0.56 to $0.60 per share, reflecting an annualized dividend of $2.40 and a yield of 2.6%.
• Analysts have upgraded their price targets for Citigroup, with several institutions setting objectives above $100, indicating a bullish outlook for the stock.

Townsquare Capital LLC reduced its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 138,523 shares of the company's stock after selling 5,271 shares during the period. Townsquare Capital LLC's holdings in Citigroup were worth $9,834,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of C. Orion Capital Management LLC purchased a new stake in shares of Citigroup in the fourth quarter valued at about $28,000. MorganRosel Wealth Management LLC acquired a new position in Citigroup during the first quarter worth approximately $28,000. American National Bank & Trust acquired a new position in shares of Citigroup during the 1st quarter valued at $29,000. Accent Capital Management LLC lifted its holdings in shares of Citigroup by 106.0% during the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company's stock valued at $29,000 after acquiring an additional 212 shares in the last quarter. Finally, Mascagni Wealth Management Inc. acquired a new position in Citigroup in the 4th quarter worth $34,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Performance

Citigroup stock traded up $1.56 during mid-day trading on Friday, reaching $92.79. The company had a trading volume of 10,764,944 shares, compared to its average volume of 17,127,052. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $96.90. The company has a 50 day moving average of $86.07 and a 200-day moving average of $77.34. The firm has a market cap of $170.82 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 0.80 and a beta of 1.38.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly 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 net margin of 8.44% and a return on equity of 7.29%. The firm had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. During the same period in the prior year, the firm earned $1.52 EPS. The business's revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 4th. This is a positive change from Citigroup's previous quarterly dividend of $0.56. Citigroup's payout ratio is 35.45%.

Insider Activity at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the sale, the director owned 2,140 shares in the company, valued at $193,456. This trade represents a 58.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

C has been the subject of a number of research analyst reports. Truist Financial upped their price target on shares of Citigroup from $93.00 to $99.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Bank of America upped their price target on shares of Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Piper Sandler upped their price target on shares of Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. The Goldman Sachs Group raised their target price on shares of Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Evercore ISI set a $77.00 target price on shares of Citigroup in a report on Monday, July 7th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock 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.