Wealth Alliance LLC Grows Position in Citigroup Inc. (NYSE:C)

Wealth Alliance LLC boosted its holdings in Citigroup Inc. (NYSE:C - Free Report) by 56.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,546 shares of the company's stock after acquiring an additional 3,427 shares during the quarter. Wealth Alliance LLC's holdings in Citigroup were worth $678,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in shares of Citigroup during the fourth quarter valued at $28,000. MorganRosel Wealth Management LLC acquired a new position in shares of Citigroup in the 1st quarter valued at about $28,000. American National Bank & Trust acquired a new position in shares of Citigroup in the 1st quarter valued at about $29,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Citigroup during the 4th quarter valued at about $34,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Citigroup during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 71.72% of the company's stock.

Citigroup Price Performance

Shares of NYSE C opened at $93.44 on Monday. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $93.80. The business has a fifty day moving average price of $80.43 and a two-hundred day moving average price of $75.52. 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 capitalization of $174.52 billion, a PE ratio of 13.80, a P/E/G ratio of 0.67 and a beta of 1.34.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The business had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same quarter in the previous year, the company posted $1.52 EPS. Citigroup's quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be issued a dividend of $0.60 per share. This is an increase from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Monday, August 4th. This represents a $2.40 annualized dividend and a yield of 2.57%. Citigroup's dividend payout ratio is presently 33.09%.

Insider Activity at Citigroup

In related 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 transaction, the director owned 2,140 shares of the company's stock, valued at $193,456. The trade was a 58.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were 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 $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. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on C shares. JPMorgan Chase & Co. reduced their target price on Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Barclays boosted their price objective on Citigroup from $95.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Cowen started coverage on Citigroup in a research report on Wednesday, May 14th. They set a "hold" rating for the company. Bank of America upped their price objective on Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Finally, Dbs Bank upgraded Citigroup from a "hold" rating to a "moderate buy" rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $96.46.

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.

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