AIA Group Ltd Raises Holdings in Citigroup Inc. (NYSE:C)

AIA Group Ltd increased its position in Citigroup Inc. (NYSE:C) by 37.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 137,543 shares of the company’s stock after acquiring an additional 37,245 shares during the quarter. AIA Group Ltd’s holdings in Citigroup were worth $9,764,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Private Advisory Group LLC increased its holdings in shares of Citigroup by 20.8% in the 1st quarter. Private Advisory Group LLC now owns 69,581 shares of the company’s stock worth $4,940,000 after buying an additional 11,978 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in Citigroup by 109.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company’s stock worth $88,458,000 after acquiring an additional 649,807 shares in the last quarter. Brighton Jones LLC raised its position in Citigroup by 166.9% during the fourth 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 in the last quarter. Onyx Bridge Wealth Group LLC purchased a new stake in Citigroup during the first quarter valued at about $214,000. Finally, Pinnacle Financial Partners Inc lifted its stake in Citigroup by 495.1% during the first quarter. Pinnacle Financial Partners Inc now owns 18,554 shares of the company’s stock worth $1,317,000 after purchasing an additional 15,436 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Up 1.7%

NYSE:C opened at $92.79 on Monday. The company’s 50-day simple moving average is $86.07 and its 200-day simple moving average is $77.34. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $96.90. The stock has a market capitalization of $170.82 billion, a P/E ratio of 13.71, a P/E/G ratio of 0.80 and a beta of 1.38.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.35. The firm had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.52 earnings per share. On average, equities analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be given a $0.60 dividend. The ex-dividend date is Monday, August 4th. This represents a $2.40 annualized dividend and a yield of 2.6%. This is a boost from Citigroup’s previous quarterly dividend of $0.56. Citigroup’s payout ratio is currently 35.45%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on C. UBS Group reissued a “neutral” rating and set a $89.00 price objective on shares of Citigroup in a report on Tuesday, July 15th. Cowen began coverage on shares of Citigroup in a research note on Wednesday, May 14th. They set a “hold” rating on the stock. Oppenheimer boosted their price objective on shares of Citigroup from $123.00 to $124.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. 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 research note on Wednesday, April 16th. Finally, Morgan Stanley lifted their target price on shares of Citigroup from $103.00 to $107.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $96.54.

Insider Buying and Selling

In related news, Director Peter B. Henry sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the sale, the director owned 2,140 shares in the company, valued at approximately $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.08% of the company’s stock.

About Citigroup

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.