Independent Advisor Alliance Grows Stock Position in Citigroup Inc. (NYSE:C)

Independent Advisor Alliance grew its position in Citigroup Inc. (NYSE:C) by 5.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 85,660 shares of the company’s stock after acquiring an additional 4,704 shares during the quarter. Independent Advisor Alliance’s holdings in Citigroup were worth $6,081,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in shares of Citigroup by 2.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company’s stock valued at $2,714,359,000 after acquiring an additional 815,003 shares in the last quarter. Capital World Investors lifted its position in shares of 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. Northern Trust Corp lifted its position in shares of Citigroup by 13.9% in the fourth quarter. Northern Trust Corp now owns 20,232,550 shares of the company’s stock valued at $1,424,169,000 after acquiring an additional 2,467,958 shares in the last quarter. Invesco Ltd. lifted its position in shares of Citigroup by 3.6% in the first quarter. Invesco Ltd. now owns 16,839,915 shares of the company’s stock valued at $1,195,466,000 after acquiring an additional 592,820 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Citigroup by 179.5% in the first quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company’s stock valued at $1,031,790,000 after acquiring an additional 9,334,038 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Insider Buying and Selling at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the completion of the sale, the director directly owned 2,140 shares of the company’s stock, valued at approximately $193,456. The trade was a 58.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.08% of the company’s stock.

Citigroup Price Performance

NYSE:C opened at $92.79 on Monday. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $96.90. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $170.82 billion, a P/E ratio of 13.71, a P/E/G ratio of 0.80 and a beta of 1.38. The stock’s fifty day moving average is $86.07 and its two-hundred day moving average is $77.34.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating 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 company had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. During the same quarter in the previous year, the business earned $1.52 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Oppenheimer raised their target price on Citigroup from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Citigroup in a research report on Wednesday, July 16th. Cowen began coverage on Citigroup in a research report on Wednesday, May 14th. They set a “hold” rating on the stock. Dbs Bank upgraded Citigroup from a “hold” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Finally, The Goldman Sachs Group lifted their price objective on Citigroup from $85.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.54.

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.