Citigroup Inc. $C Shares Purchased by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. increased its holdings in Citigroup Inc. by 1,808.5% in the first quarter, owning a total of 542,084 shares valued at $38,483,000.
• Several other hedge funds also raised their positions in Citigroup during the same period, indicating strong institutional interest, with 71.72% of the stock currently owned by hedge funds and institutional investors.
• Citigroup recently declared a quarterly dividend of $0.60, up from the previous dividend of $0.56, reflecting the company's commitment to returning value to shareholders.

1832 Asset Management L.P. boosted its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 1,808.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 542,084 shares of the company's stock after purchasing an additional 513,680 shares during the period. 1832 Asset Management L.P.'s holdings in Citigroup were worth $38,483,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of C. Orion Capital Management LLC purchased a new position in shares of Citigroup in the fourth quarter valued at about $28,000. MorganRosel Wealth Management LLC purchased a new position in shares of Citigroup in the first quarter valued at about $28,000. American National Bank & Trust purchased a new position in shares of Citigroup in the first quarter valued at about $29,000. Accent Capital Management LLC lifted its position in shares of Citigroup by 106.0% in the first quarter. Accent Capital Management LLC now owns 412 shares of the company's stock valued at $29,000 after acquiring an additional 212 shares in the last quarter. Finally, Mascagni Wealth Management Inc. purchased a new position in shares of Citigroup in the fourth quarter valued at about $34,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the sale, the director owned 2,140 shares in the company, valued at $193,456. This represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Trading Up 1.3%

Shares of C traded up $1.26 during mid-day trading on Wednesday, reaching $96.98. 11,139,493 shares of the company's stock traded hands, compared to its average volume of 15,686,078. The stock has a market cap of $178.52 billion, a P/E ratio of 14.32, a P/E/G ratio of 0.82 and a beta of 1.38. The stock's 50-day moving average is $90.12 and its two-hundred day moving average is $78.49. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $97.45. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. The firm had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.Citigroup's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. Research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were issued a dividend of $0.60 per share. This is an increase from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Monday, August 4th. Citigroup's dividend payout ratio (DPR) is currently 35.45%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on C. Morgan Stanley boosted their price objective on Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Barclays lifted their target price on Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. UBS Group reaffirmed a "neutral" rating and issued a $89.00 target price on shares of Citigroup in a report on Tuesday, July 15th. Dbs Bank raised Citigroup from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Finally, Bank of America lifted their target price on Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $96.54.

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.