LSV Asset Management Acquires 17,782 Shares of Citigroup Inc. (NYSE:C)

LSV Asset Management raised its holdings in Citigroup Inc. (NYSE:C) by 0.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,452,933 shares of the company’s stock after buying an additional 17,782 shares during the quarter. Citigroup comprises 1.1% of LSV Asset Management’s investment portfolio, making the stock its 14th largest position. LSV Asset Management’s holdings in Citigroup were worth $458,094,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. TIAA Trust National Association grew its position in shares of Citigroup by 11.0% in the 1st quarter. TIAA Trust National Association now owns 17,853 shares of the company’s stock worth $1,267,000 after buying an additional 1,775 shares during the last quarter. Asset Planning Inc bought a new stake in shares of Citigroup in the 1st quarter worth approximately $573,000. Baker Avenue Asset Management LP lifted its stake in shares of Citigroup by 16.5% in the 1st quarter. Baker Avenue Asset Management LP now owns 24,269 shares of the company’s stock valued at $1,723,000 after purchasing an additional 3,440 shares during the period. Blueshift Asset Management LLC purchased a new position in shares of Citigroup in the 1st quarter valued at approximately $777,000. Finally, ProVise Management Group LLC lifted its stake in shares of Citigroup by 1.9% in the 1st quarter. ProVise Management Group LLC now owns 193,261 shares of the company’s stock valued at $13,720,000 after purchasing an additional 3,582 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on C shares. Royal Bank Of Canada lowered their target price on Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a research note on Wednesday, April 16th. Cowen began coverage on Citigroup in a report on Wednesday, May 14th. They issued a “hold” rating on the stock. Dbs Bank raised Citigroup from a “hold” rating to a “moderate buy” rating in a report on Thursday, July 17th. The Goldman Sachs Group boosted their target price on Citigroup from $85.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Finally, Wall Street Zen raised Citigroup from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and an average price target of $96.54.

Insider Activity

In related news, Director Peter B. Henry sold 3,000 shares of the 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 completion of the transaction, the director directly owned 2,140 shares of the company’s stock, valued at approximately $193,456. This represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.08% of the company’s stock.

Citigroup Stock Down 2.0%

Citigroup stock opened at $91.84 on Friday. The stock has a market cap of $171.53 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 0.81 and a beta of 1.38. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.99. Citigroup Inc. has a one year low of $53.51 and a one year high of $96.90. The stock has a fifty day moving average of $84.36 and a 200 day moving average of $76.98.

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

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be given a dividend of $0.60 per share. This is an increase from Citigroup’s previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, August 4th. Citigroup’s dividend payout ratio (DPR) is 33.09%.

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.