USA Financial Formulas Invests $1.24 Million in Citigroup Inc. (NYSE:C)

USA Financial Formulas bought a new position in shares of Citigroup Inc. (NYSE:C - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,471 shares of the company's stock, valued at approximately $1,240,000.

Other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in Citigroup by 3.4% during the 4th quarter. American Century Companies Inc. now owns 352,948 shares of the company's stock worth $24,844,000 after acquiring an additional 11,674 shares during the period. Invesco Ltd. boosted its holdings 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 purchasing an additional 1,970,300 shares during the period. Candriam S.C.A. grew its position in Citigroup by 12.7% during the fourth quarter. Candriam S.C.A. now owns 200,860 shares of the company's stock valued at $14,139,000 after purchasing an additional 22,657 shares in the last quarter. Brighton Jones LLC grew its position in 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, Unified Investment Management acquired a new position in Citigroup in the 4th quarter valued at approximately $658,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Performance

Citigroup stock traded down $1.93 during trading hours on Friday, reaching $76.30. 11,986,532 shares of the company were exchanged, compared to its average volume of 14,509,913. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock has a 50-day moving average of $70.65 and a 200 day moving average of $72.96. The firm has a market cap of $142.51 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.64 and a beta of 1.33.

Citigroup (NYSE:C - Get Free Report) last released its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. As a group, research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 2.94%. Citigroup's payout ratio is 35.39%.

Insider Buying and Selling at Citigroup

In related news, Director John Cunningham Dugan sold 4,417 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the transaction, the director now directly owns 13,048 shares in the company, valued at $890,656.48. This represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on C shares. Cowen started coverage on shares of Citigroup in a research note on Wednesday, May 14th. They set a "hold" rating for the company. Oppenheimer reiterated an "outperform" rating on shares of Citigroup in a report on Tuesday, May 20th. Wall Street Zen upgraded Citigroup from a "sell" rating to a "hold" rating in a research note on Sunday, June 1st. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $92.00 target price (down from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. Finally, Evercore ISI reduced their price target on Citigroup from $79.00 to $76.00 and set an "in-line" rating for the company in a report on Tuesday, April 1st. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Citigroup presently has a consensus rating of "Moderate Buy" and a consensus target price of $84.30.

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.