Asio Capital LLC Buys New Stake in Citigroup Inc. (NYSE:C)

Asio Capital LLC purchased a new position in Citigroup Inc. (NYSE:C) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 64,110 shares of the company’s stock, valued at approximately $4,551,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Orion Capital Management LLC acquired a new stake in shares of Citigroup during the fourth quarter worth about $28,000. American National Bank & Trust acquired a new stake in shares of Citigroup during the first quarter worth about $29,000. Mascagni Wealth Management Inc. acquired a new stake in Citigroup in the fourth quarter valued at approximately $34,000. Creative Capital Management Investments LLC acquired a new stake in Citigroup in the fourth quarter valued at approximately $35,000. Finally, Sierra Ocean LLC acquired a new stake in Citigroup in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 2.5%

Citigroup stock opened at $76.30 on Friday. The company’s 50 day simple moving average is $71.01 and its 200 day simple moving average is $73.03. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The firm has a market capitalization of $142.51 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.64 and a beta of 1.33. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. The firm had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. As a group, sell-side analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $2.24 annualized dividend and a dividend yield of 2.94%. Citigroup’s dividend payout ratio (DPR) is presently 35.39%.

Insider Activity at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the transaction, the director now owns 13,048 shares of the company’s stock, valued at approximately $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

C has been the topic of several recent analyst reports. Royal Bank of Canada dropped their price target on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 16th. The Goldman Sachs Group increased their price target on shares of Citigroup from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Cowen initiated coverage on shares of Citigroup in a research note on Wednesday, May 14th. They issued a “hold” rating on the stock. Bank of America dropped their price target on shares of Citigroup from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Finally, Morgan Stanley dropped their price target on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and an average price target of $84.30.

Citigroup Company 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.