ABN Amro Investment Solutions Grows Position in Citigroup Inc. $C

ABN Amro Investment Solutions grew its position in shares of Citigroup Inc. (NYSE:CFree Report) by 14.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,730 shares of the company’s stock after purchasing an additional 12,444 shares during the quarter. ABN Amro Investment Solutions’ holdings in Citigroup were worth $11,310,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in C. Whipplewood Advisors LLC purchased a new position in Citigroup in the 1st quarter valued at $25,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of Citigroup during the fourth quarter worth $25,000. Richards Merrill & Peterson Inc. purchased a new stake in shares of Citigroup during the fourth quarter worth $28,000. TD Capital Management LLC acquired a new stake in shares of Citigroup in the fourth quarter valued at about $28,000. Finally, Scarborough Advisors LLC purchased a new position in shares of Citigroup in the first quarter worth about $29,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Price Performance

Citigroup stock opened at $132.39 on Thursday. The company’s 50 day simple moving average is $134.70 and its 200-day simple moving average is $123.67. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup Inc. has a 1 year low of $87.94 and a 1 year high of $147.96. The company has a market capitalization of $225.80 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 0.60 and a beta of 1.11.

Citigroup (NYSE:CGet Free Report) last posted its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.41. The firm had revenue of $24.75 billion during the quarter, compared to analysts’ expectations of $23.74 billion. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the company posted $1.96 EPS. As a group, equities research analysts expect that Citigroup Inc. will post 11.22 earnings per share for the current year.

Citigroup declared that its Board of Directors has approved a stock buyback plan on Thursday, May 7th that allows the company to repurchase $30.00 billion in shares. This repurchase authorization allows the company to reacquire up to 13.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 3rd will be issued a $0.67 dividend. The ex-dividend date is Monday, August 3rd. This represents a $2.68 annualized dividend and a dividend yield of 2.0%. This is a boost from Citigroup’s previous quarterly dividend of $0.60. Citigroup’s dividend payout ratio (DPR) is presently 25.92%.

Insider Transactions at Citigroup

In related news, Director John Cunningham Dugan sold 2,117 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $125.30, for a total transaction of $265,260.10. Following the completion of the transaction, the director directly owned 12,194 shares in the company, valued at $1,527,908.20. This trade represents a 14.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on C shares. Bank of America upped their price objective on shares of Citigroup from $170.00 to $176.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Evercore set a $143.00 target price on shares of Citigroup in a research note on Monday, July 6th. Barclays boosted their target price on Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. JPMorgan Chase & Co. upped their price target on Citigroup from $135.50 to $149.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $145.00 price target (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $145.67.

View Our Latest Report on C

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Citigroup Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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