Citigroup Inc. (NYSE:C) Holdings Raised by Carnegie Lake Advisors LLC

Carnegie Lake Advisors LLC increased its holdings in Citigroup Inc. (NYSE:C) by 14.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,173 shares of the company’s stock after acquiring an additional 1,396 shares during the period. Carnegie Lake Advisors LLC’s holdings in Citigroup were worth $793,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. True Wealth Design LLC boosted its stake in Citigroup by 11.1% in the 4th quarter. True Wealth Design LLC now owns 1,195 shares of the company’s stock valued at $84,000 after buying an additional 119 shares in the last quarter. Continuum Advisory LLC boosted its position in shares of Citigroup by 1.9% during the fourth quarter. Continuum Advisory LLC now owns 6,519 shares of the company’s stock worth $459,000 after buying an additional 120 shares during the period. Insight Inv LLC raised its holdings in Citigroup by 0.5% during the first quarter. Insight Inv LLC now owns 27,268 shares of the company’s stock worth $1,936,000 after acquiring an additional 146 shares in the last quarter. Trust Co. of Vermont raised its stake in Citigroup by 14.3% in the first quarter. Trust Co. of Vermont now owns 1,196 shares of the company’s stock valued at $85,000 after buying an additional 150 shares during the period. Finally, Mystic Asset Management Inc. increased its stake in shares of Citigroup by 0.5% during the first quarter. Mystic Asset Management Inc. now owns 29,100 shares of the company’s stock worth $2,066,000 after purchasing an additional 150 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Stock Performance

NYSE:C opened at $93.44 on Friday. The company’s 50-day moving average price is $80.43 and its 200-day moving average price is $75.45. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. The company has a market cap of $174.52 billion, a P/E ratio of 13.80, a P/E/G ratio of 0.68 and a beta of 1.34. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $93.80.

Citigroup (NYSE:C) last issued its 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. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. During the same period in the previous year, the firm earned $1.52 earnings per share. Citigroup’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, sell-side analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a yield of 2.57%. This is a boost from Citigroup’s previous quarterly dividend of $0.56. Citigroup’s dividend payout ratio is currently 33.09%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on C. Piper Sandler lifted their price target on Citigroup from $84.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday. Dbs Bank raised Citigroup from a “hold” rating to a “moderate buy” rating in a report on Thursday. Cowen assumed coverage on Citigroup in a research note on Wednesday, May 14th. They issued a “hold” rating on the stock. Barclays upped their price target on shares of Citigroup from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Morgan Stanley upped their price target on shares of Citigroup from $103.00 to $107.00 and gave the company an “overweight” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $96.46.

Insiders Place Their Bets

In related news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the director directly owned 13,048 shares in the company, valued at $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

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.