Citigroup Inc. $C Shares Acquired by First Trust Advisors LP

First Trust Advisors LP increased its position in shares of Citigroup Inc. (NYSE:C) by 10.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,202,559 shares of the company’s stock after buying an additional 115,099 shares during the period. First Trust Advisors LP’s holdings in Citigroup were worth $136,382,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Citigroup by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company’s stock worth $19,048,467,000 after acquiring an additional 4,938,923 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Citigroup by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 43,252,372 shares of the company’s stock valued at $5,036,712,000 after purchasing an additional 189,548 shares during the last quarter. Franklin Resources Inc. grew its stake in Citigroup by 4.0% during the 4th quarter. Franklin Resources Inc. now owns 34,196,783 shares of the company’s stock valued at $3,990,422,000 after purchasing an additional 1,326,224 shares in the last quarter. Fisher Asset Management LLC grew its stake in Citigroup by 2.6% during the 4th quarter. Fisher Asset Management LLC now owns 33,887,285 shares of the company’s stock valued at $3,954,307,000 after purchasing an additional 846,772 shares in the last quarter. Finally, Norges Bank purchased a new stake in Citigroup during the 4th quarter worth approximately $2,800,944,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $125.30, for a total transaction of $265,260.10. Following the completion of the transaction, the director owned 12,194 shares in the company, valued at approximately $1,527,908.20. This represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.11% of the company’s stock.

Citigroup Stock Down 0.2%

NYSE:C opened at $131.94 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71. The stock has a 50 day moving average of $134.84 and a 200-day moving average of $123.76. The firm has a market capitalization of $225.03 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 0.59 and a beta of 1.11. Citigroup Inc. has a 52 week low of $87.94 and a 52 week high of $147.96.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.41. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The business had revenue of $24.75 billion for the quarter, compared to the consensus estimate of $23.74 billion. During the same quarter last year, the business posted $1.96 EPS. The business’s revenue was up 14.5% on a year-over-year basis. Analysts predict that Citigroup Inc. will post 11.22 EPS for the current year.

Citigroup declared that its board has approved a stock repurchase program on Thursday, May 7th that permits the company to repurchase $30.00 billion in shares. This repurchase authorization permits the company to reacquire up to 13.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 3rd will be paid a $0.67 dividend. The ex-dividend date is Monday, August 3rd. This is a positive change from Citigroup’s previous quarterly dividend of $0.60. This represents a $2.68 dividend on an annualized basis and a yield of 2.0%. Citigroup’s dividend payout ratio (DPR) is 25.92%.

Analyst Ratings Changes

A number of brokerages have issued reports on C. Morgan Stanley upped their target price on Citigroup from $154.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Royal Bank Of Canada restated an “outperform” rating and issued a $150.00 price target on shares of Citigroup in a research note on Wednesday, July 15th. Wells Fargo & Company upped their price target on shares of Citigroup from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, June 18th. Wall Street Zen upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Argus set a $150.00 price objective on shares of Citigroup in a report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and a consensus price target of $145.67.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup priced an $817 million multifamily CMBS deal, its largest post-GFC multifamily-only securitization, underscoring continued strength in Citi’s commercial real estate capital markets franchise and demand for apartment-backed debt. Citigroup (C) Sets Post GFC Record With $817 Million Multifamily CMBS Deal
• Positive Sentiment: Several brokerages remain constructive on Citigroup after its strong second quarter, with analysts pointing to solid earnings, improving outlooks and rising estimates for the bank. Buy 3 Top-Ranked Big Investment Banks Amid Solid Q2 Earnings & Outlook
• Positive Sentiment: Citigroup raised its quarterly dividend to $0.67 per share from $0.60, signaling confidence in capital strength and offering a more attractive income profile for shareholders. Dividend announcement
• Neutral Sentiment: Citigroup was also in the news for hiring five U.S. tech investment banking executives, a move that could support franchise growth over time but is unlikely to move the stock immediately. Citigroup hires five US tech investment banking executives from rivals
• Negative Sentiment: Citi’s downgrade of agilon health to Sell shows the bank is still making cautious calls on certain sectors, but this is more relevant to agilon than to Citigroup’s own earnings outlook. Why agilon health (AGL) Shares Are Falling Today

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.