WFA Asset Management Corp Grows Stake in Citigroup Inc. (NYSE:C)

WFA Asset Management Corp lifted its stake in Citigroup Inc. (NYSE:C) by 14.0% in the first quarter, Holdings Channel.com reports. The firm owned 41,244 shares of the company’s stock after buying an additional 5,075 shares during the period. Citigroup comprises about 1.7% of WFA Asset Management Corp’s holdings, making the stock its 12th biggest position. WFA Asset Management Corp’s holdings in Citigroup were worth $2,928,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC boosted its holdings in Citigroup by 28.8% during the 1st quarter. Farther Finance Advisors LLC now owns 27,914 shares of the company’s stock valued at $1,969,000 after acquiring an additional 6,242 shares during the period. Daymark Wealth Partners LLC boosted its stake in shares of Citigroup by 268.2% during the first quarter. Daymark Wealth Partners LLC now owns 10,778 shares of the company’s stock valued at $765,000 after purchasing an additional 7,851 shares during the period. CHICAGO TRUST Co NA grew its holdings in shares of Citigroup by 1.1% in the first quarter. CHICAGO TRUST Co NA now owns 29,367 shares of the company’s stock worth $2,085,000 after purchasing an additional 315 shares during the last quarter. Moss Adams Wealth Advisors LLC increased its stake in Citigroup by 14.5% in the 1st quarter. Moss Adams Wealth Advisors LLC now owns 12,113 shares of the company’s stock worth $860,000 after buying an additional 1,530 shares during the period. Finally, First Citizens Bank & Trust Co. lifted its holdings in Citigroup by 20.1% during the 1st quarter. First Citizens Bank & Trust Co. now owns 6,189 shares of the company’s stock valued at $439,000 after buying an additional 1,036 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

C has been the subject of a number of research analyst reports. Royal Bank of Canada decreased their target price on Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. Wall Street Zen raised shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Sunday, June 1st. Cowen started coverage on shares of Citigroup in a report on Wednesday, May 14th. They issued a “hold” rating for the company. Evercore ISI dropped their price objective on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 1st. Finally, Bank of America reduced their price objective on shares of Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.97.

Insider Buying and Selling

In related news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the transaction, the director now directly owns 13,048 shares in the company, valued at approximately $890,656.48. This trade represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.08% of the company’s stock.

Citigroup Trading Up 2.2%

Citigroup stock opened at $78.32 on Monday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $146.28 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 0.64 and a beta of 1.33. The stock has a 50-day moving average of $69.43 and a two-hundred day moving average of $72.78. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74.

Citigroup (NYSE:C) last released its earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. The company had revenue of $21.60 billion during the quarter, compared to analysts’ expectations of $21.34 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. On average, research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup’s payout ratio is 35.39%.

Citigroup 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.