Griffin Asset Management Inc. Acquires 13,606 Shares of Citigroup Inc. (NYSE:C)

Griffin Asset Management Inc. lifted its position in shares of Citigroup Inc. (NYSE:C) by 76.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,338 shares of the company’s stock after purchasing an additional 13,606 shares during the period. Griffin Asset Management Inc.’s holdings in Citigroup were worth $2,225,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Citigroup by 166.9% in 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 last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Citigroup in the 4th quarter worth about $10,400,000. Salzhauer Michael raised its position in shares of Citigroup by 50.2% in the 4th quarter. Salzhauer Michael now owns 393,650 shares of the company’s stock worth $27,709,000 after acquiring an additional 131,505 shares in the last quarter. Leavell Investment Management Inc. bought a new stake in Citigroup in the 4th quarter valued at about $256,000. Finally, Avidian Wealth Enterprises LLC increased its holdings in Citigroup by 7.1% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 6,585 shares of the company’s stock worth $464,000 after purchasing an additional 436 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. TD Cowen assumed coverage on Citigroup in a research note on Thursday, May 15th. They issued a “hold” rating and a $83.00 target price on the stock. Evercore ISI dropped their target price on Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 1st. Keefe, Bruyette & Woods restated an “outperform” rating and set a $92.00 target price (down previously from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. Morgan Stanley decreased their price target on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, The Goldman Sachs Group increased their target price on Citigroup from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and a consensus price target of $84.30.

Citigroup Stock Performance

NYSE C opened at $76.30 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The company has a 50-day simple moving average of $71.01 and a two-hundred day simple moving average of $73.01. The firm has a market cap of $142.51 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.64 and a beta of 1.33. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share 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 analyst estimates of $21.34 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. On average, equities analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a $0.56 dividend. The ex-dividend date was Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 2.94%. Citigroup’s dividend payout ratio (DPR) is presently 35.39%.

Insiders Place Their Bets

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the firm’s stock in a transaction that occurred on Wednesday, April 30th. The shares were 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 owns 13,048 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 0.08% of the stock is currently owned by company insiders.

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.