First Citizens Bank & Trust Co. Acquires 1,036 Shares of Citigroup Inc. (NYSE:C)

First Citizens Bank & Trust Co. raised its holdings in shares of Citigroup Inc. (NYSE:C) by 20.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,189 shares of the company’s stock after acquiring an additional 1,036 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Citigroup were worth $439,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Core Alternative Capital increased its holdings in shares of Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after purchasing an additional 171 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of Citigroup in the fourth quarter worth about $28,000. American National Bank & Trust bought a new stake in shares of Citigroup in the first quarter worth about $29,000. Mascagni Wealth Management Inc. bought a new stake in shares of Citigroup in the fourth quarter worth about $34,000. Finally, Creative Capital Management Investments LLC bought a new stake in shares of Citigroup in the fourth quarter worth about $35,000. 71.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. JPMorgan Chase & Co. dropped their price target on Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Royal Bank of Canada dropped their price target on Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. Morgan Stanley dropped their price target on Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Keefe, Bruyette & Woods reiterated 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. Finally, Evercore ISI dropped their price target on Citigroup from $79.00 to $76.00 and set an “in-line” rating for the company in a research report on Tuesday, April 1st. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $84.30.

Citigroup Price Performance

Shares of C stock opened at $78.07 on Wednesday. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The stock has a market capitalization of $145.81 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 0.64 and a beta of 1.33. The stock has a fifty day simple moving average of $69.85 and a two-hundred day simple moving average of $72.87. 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) last issued its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate 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, analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a yield of 2.87%. Citigroup’s dividend payout ratio is currently 35.39%.

Insiders Place Their Bets

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the company’s stock in a transaction on 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 sale, the director now owns 13,048 shares in the company, valued at $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is owned by company insiders.

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.