WFA Asset Management Corp Raises Stake in Citigroup Inc. (NYSE:C)

WFA Asset Management Corp grew its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 14.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,244 shares of the company's stock after acquiring an additional 5,075 shares during the quarter. Citigroup accounts for approximately 1.7% of WFA Asset Management Corp's holdings, making the stock its 12th biggest holding. WFA Asset Management Corp's holdings in Citigroup were worth $2,928,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Citigroup in the 4th quarter worth approximately $1,935,599,000. Capital World Investors boosted its holdings 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 acquiring an additional 25,705,141 shares in the last quarter. FMR LLC increased its position in Citigroup by 29.7% during the 4th 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. Raymond James Financial Inc. bought a new position in Citigroup in the 4th quarter worth $198,231,000. Finally, Franklin Resources Inc. lifted its position in shares of Citigroup by 9.3% in the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock worth $2,311,048,000 after purchasing an additional 2,804,850 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on C shares. Evercore ISI lowered their target price on Citigroup from $79.00 to $76.00 and set an "in-line" rating for the company in a research note on Tuesday, April 1st. The Goldman Sachs Group decreased their target price on shares of Citigroup from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th. TD Cowen started coverage on Citigroup in a research note on Thursday, May 15th. They issued a "hold" rating and a $83.00 price target on the stock. Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a report on Sunday, June 1st. Finally, Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $92.00 price target (down previously from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.97.

Insider Buying and Selling

In other news, Director John Cunningham Dugan sold 4,417 shares of the firm's stock in a transaction dated Wednesday, April 30th. The stock was 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 owns 13,048 shares in the company, valued at $890,656.48. This trade represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.08% of the stock is currently owned by insiders.

Citigroup Stock Up 2.2%

Shares of C stock opened at $78.32 on Monday. The company has a 50 day simple moving average of $69.43 and a two-hundred day simple moving average of $72.78. The stock has a market cap of $146.28 billion, a P/E ratio of 13.16, a P/E/G ratio of 0.64 and a beta of 1.33. 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.

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

Citigroup Announces Dividend

The company 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. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date was Monday, May 5th. Citigroup's dividend payout ratio (DPR) is 35.39%.

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.

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