USA Financial Formulas Purchases New Position in Citigroup Inc. (NYSE:C)

USA Financial Formulas purchased a new stake in Citigroup Inc. (NYSE:C) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 17,471 shares of the company’s stock, valued at approximately $1,240,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Core Alternative Capital grew its stake in Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after buying an additional 171 shares during the last quarter. Orion Capital Management LLC acquired a new position in Citigroup in the 4th quarter valued at about $28,000. American National Bank & Trust acquired a new position in Citigroup in the 1st quarter valued at about $29,000. Mascagni Wealth Management Inc. acquired a new position in Citigroup in the 4th quarter valued at about $34,000. Finally, Creative Capital Management Investments LLC acquired a new position in Citigroup in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on C shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $92.00 price target (down previously from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. Oppenheimer reissued an “outperform” rating on shares of Citigroup in a report on Tuesday, May 20th. Cowen began coverage on shares of Citigroup in a report on Wednesday, May 14th. They issued a “hold” rating for the company. Royal Bank of Canada cut their price objective on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a report on Wednesday, April 16th. Finally, Wall Street Zen raised shares of Citigroup from a “sell” rating to a “hold” rating in a report on Sunday, June 1st. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.30.

Citigroup Stock Performance

Shares of Citigroup stock opened at $78.07 on Wednesday. The company has a 50 day moving average of $69.85 and a 200-day moving average of $72.87. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The company has a market cap of $145.81 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 0.64 and a beta of 1.33.

Citigroup (NYSE:C) last issued its quarterly 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. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. As a group, equities research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date was Monday, May 5th. Citigroup’s dividend payout ratio (DPR) is presently 35.39%.

Insider Transactions at Citigroup

In related news, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the transaction, the director now owns 13,048 shares of the company’s stock, valued at $890,656.48. This represents a 25.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.08% of the stock is currently owned by insiders.

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.