Aberdeen Group plc Sells 583,311 Shares of Citigroup Inc. $C

Key Points

• Aberdeen Group plc reduced its position in Citigroup Inc. by 28.4% in Q1, now owning approximately $102.77 million in shares after selling over 583,000 shares.
• Citigroup's recent earnings report revealed an EPS of $1.96, exceeding expectations and indicating 8.2% revenue growth year-over-year.
• The company announced a quarterly dividend increase to $0.60 per share, scheduled to be paid on August 22, reflecting a 2.5% dividend yield.

Aberdeen Group plc lessened its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 28.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,470,697 shares of the company's stock after selling 583,311 shares during the period. Aberdeen Group plc owned 0.08% of Citigroup worth $102,772,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of C. Price T Rowe Associates Inc. MD boosted its holdings in Citigroup by 2.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company's stock worth $2,714,359,000 after purchasing an additional 815,003 shares during the last quarter. Capital World Investors boosted its holdings in Citigroup by 455.2% in the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company's stock worth $2,206,908,000 after buying an additional 25,705,141 shares during the period. Northern Trust Corp boosted its holdings in Citigroup by 13.9% in the 4th quarter. Northern Trust Corp now owns 20,232,550 shares of the company's stock worth $1,424,169,000 after buying an additional 2,467,958 shares during the period. Invesco Ltd. boosted its holdings in Citigroup by 3.6% in the 1st quarter. Invesco Ltd. now owns 16,839,915 shares of the company's stock worth $1,195,466,000 after buying an additional 592,820 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Citigroup by 179.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock worth $1,031,790,000 after buying an additional 9,334,038 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Trading Down 0.6%

NYSE C traded down $0.5720 during trading on Tuesday, hitting $93.6480. The company had a trading volume of 10,829,194 shares, compared to its average volume of 15,753,777. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61. Citigroup Inc. has a one year low of $55.51 and a one year high of $96.90. The company has a market cap of $172.40 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 0.81 and a beta of 1.38. The company's fifty day moving average is $88.15 and its 200-day moving average is $77.90.

Citigroup (NYSE:C - Get Free Report) last released 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 business had revenue of $21.67 billion during 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%. Citigroup's revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business earned $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 4th. This is a boost from Citigroup's previous quarterly dividend of $0.56. Citigroup's payout ratio is 35.45%.

Insider Activity

In related news, Director Peter B. Henry sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the transaction, the director owned 2,140 shares of the company's stock, 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 SEC, which can be accessed through this link. 0.08% of the stock is currently owned by insiders.

Analysts Set New Price Targets

C has been the topic of a number of analyst reports. Morgan Stanley upped their target price on shares of Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Oppenheimer upped their target price on shares of Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Evercore ISI set a $77.00 price target on shares of Citigroup in a research note on Monday, July 7th. Truist Financial boosted their price target on shares of Citigroup from $93.00 to $99.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Finally, Cowen started coverage on shares of Citigroup in a research note on Wednesday, May 14th. They issued a "hold" rating for the company. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $96.54.

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.