Cetera Investment Advisers Acquires 53,321 Shares of Citigroup Inc. (NYSE:C)

Cetera Investment Advisers grew its holdings in Citigroup Inc. (NYSE:C) by 14.1% during the 1st quarter, Holdings Channel reports. The fund owned 430,965 shares of the company’s stock after buying an additional 53,321 shares during the period. Cetera Investment Advisers’ holdings in Citigroup were worth $30,594,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in C. American Century Companies Inc. raised its position in shares of Citigroup by 3.4% during the 4th quarter. American Century Companies Inc. now owns 352,948 shares of the company’s stock valued at $24,844,000 after purchasing an additional 11,674 shares during the period. Invesco Ltd. raised its position in shares of Citigroup by 13.8% during the 4th quarter. Invesco Ltd. now owns 16,247,095 shares of the company’s stock valued at $1,143,633,000 after purchasing an additional 1,970,300 shares during the period. Brighton Jones LLC raised its position in shares of Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after purchasing an additional 12,499 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its stake in Citigroup by 109.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company’s stock valued at $88,458,000 after acquiring an additional 649,807 shares in the last quarter. Finally, Onyx Bridge Wealth Group LLC purchased a new position in Citigroup during the first quarter valued at $214,000. 71.72% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director John Cunningham Dugan sold 4,417 shares of the firm’s 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 sale, the director owned 13,048 shares in the company, valued at approximately $890,656.48. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter B. Henry sold 3,000 shares of the firm’s stock in a transaction dated 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 sale, the director owned 2,140 shares of the company’s stock, valued at $193,456. This trade represents a 58.37% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on C shares. JPMorgan Chase & Co. cut their target price on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Royal Bank Of Canada cut their target price on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a research note on Wednesday, April 16th. Wall Street Zen raised shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. The Goldman Sachs Group raised their target price on shares of Citigroup from $85.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Finally, Oppenheimer raised their target price on shares of Citigroup from $107.00 to $123.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.46.

Citigroup Stock Performance

Shares of NYSE:C opened at $96.04 on Friday. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $96.90. The stock has a market capitalization of $179.37 billion, a P/E ratio of 14.19, a PEG ratio of 0.83 and a beta of 1.34. The firm has a fifty day simple moving average of $82.36 and a two-hundred day simple moving average of $76.27. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.61.

Citigroup (NYSE:C) last released its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.35. The firm had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business earned $1.52 EPS. On average, analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Monday, August 4th. This is a positive change from Citigroup’s previous quarterly dividend of $0.56. Citigroup’s dividend payout ratio (DPR) is 33.09%.

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.