Citigroup Inc. (NYSE:C) Shares Purchased by Independent Advisor Alliance

Independent Advisor Alliance increased its stake in shares of Citigroup Inc. (NYSE:C) by 5.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,660 shares of the company’s stock after purchasing an additional 4,704 shares during the quarter. Independent Advisor Alliance’s holdings in Citigroup were worth $6,081,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its stake in Citigroup by 2.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company’s stock worth $2,714,359,000 after purchasing an additional 815,003 shares in the last quarter. Capital World Investors boosted its position in shares of Citigroup by 455.2% during the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock worth $2,206,908,000 after acquiring an additional 25,705,141 shares in the last quarter. Northern Trust Corp boosted its position in shares of Citigroup by 13.9% during the 4th quarter. Northern Trust Corp now owns 20,232,550 shares of the company’s stock worth $1,424,169,000 after acquiring an additional 2,467,958 shares in the last quarter. Invesco Ltd. boosted its position in shares of Citigroup by 3.6% during the 1st quarter. Invesco Ltd. now owns 16,839,915 shares of the company’s stock worth $1,195,466,000 after acquiring an additional 592,820 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Citigroup by 179.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company’s stock worth $1,031,790,000 after acquiring an additional 9,334,038 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Stock Up 1.7%

C opened at $92.79 on Monday. The business has a 50 day moving average price of $86.07 and a two-hundred day moving average price of $77.34. 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 cap of $170.82 billion, a PE ratio of 13.71, a P/E/G ratio of 0.80 and a beta of 1.38. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $96.90.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.61 by $0.35. The firm had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.52 EPS. As a group, research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders 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 annualized dividend and a yield of 2.6%. This is a boost from Citigroup’s previous quarterly dividend of $0.56. Citigroup’s dividend payout ratio (DPR) is currently 35.45%.

Insider Buying and Selling

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the company’s stock in a transaction that occurred on 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 directly owned 2,140 shares of the company’s stock, valued at $193,456. This represents a 58.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on C shares. Wells Fargo & Company upped their price objective on Citigroup from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Barclays upped their price objective on Citigroup from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Truist Financial upped their price objective on Citigroup from $93.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Citigroup in a report on Wednesday, July 16th. Finally, Wall Street Zen raised Citigroup from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Citigroup has an average rating of “Moderate Buy” and an average price target of $96.54.

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.