Adage Capital Partners GP L.L.C. Sells 307,500 Shares of Citigroup Inc. $C

Key Points

• Adage Capital Partners GP L.L.C. reduced its holdings in Citigroup by 15.2%, owning approximately $121.88 million worth of shares after selling 307,500 shares in the first quarter.
• Citigroup recently announced an increase in its quarterly dividend from $0.56 to $0.60 per share, marking a dividend yield of 2.5%.
• Analysts remain optimistic about Citigroup, with ten rating the stock as a Buy and an average price target of $96.54.

Adage Capital Partners GP L.L.C. reduced its stake in Citigroup Inc. (NYSE:C - Free Report) by 15.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,716,786 shares of the company's stock after selling 307,500 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.09% of Citigroup worth $121,875,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in C. True Wealth Design LLC boosted its position in Citigroup by 11.1% during the 4th quarter. True Wealth Design LLC now owns 1,195 shares of the company's stock worth $84,000 after buying an additional 119 shares during the period. Continuum Advisory LLC boosted its position in Citigroup by 1.9% during the 4th quarter. Continuum Advisory LLC now owns 6,519 shares of the company's stock worth $459,000 after buying an additional 120 shares during the period. Solitude Financial Services boosted its position in Citigroup by 0.9% during the 1st quarter. Solitude Financial Services now owns 16,496 shares of the company's stock worth $1,171,000 after buying an additional 140 shares during the period. Dorsey & Whitney Trust CO LLC boosted its position in Citigroup by 2.1% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 6,902 shares of the company's stock worth $490,000 after buying an additional 142 shares during the period. Finally, Insight Inv LLC boosted its position in Citigroup by 0.5% during the 1st quarter. Insight Inv LLC now owns 27,268 shares of the company's stock worth $1,936,000 after buying an additional 146 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the sale, the director directly owned 2,140 shares in the company, valued at approximately $193,456. The trade was a 58.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on C. Cowen began coverage on shares of Citigroup in a report on Wednesday, May 14th. They set a "hold" rating for the company. UBS Group reiterated a "neutral" rating and issued a $89.00 price objective on shares of Citigroup in a research note on Tuesday, July 15th. Bank of America lifted their price objective on shares of Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Wall Street Zen upgraded shares of Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Evercore ISI set a $77.00 price target on shares of Citigroup in a research note on Monday, July 7th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $96.96.

Citigroup Stock Performance

Citigroup stock traded down $1.64 during midday trading on Friday, reaching $95.44. The stock had a trading volume of 17,018,341 shares, compared to its average volume of 12,488,161. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $97.98. The firm's 50-day moving average price is $92.56 and its 200 day moving average price is $79.26. The firm has a market capitalization of $175.69 billion, a PE ratio of 14.10, a P/E/G ratio of 0.84 and a beta of 1.41. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data 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. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The business had revenue of $21.67 billion for the quarter, compared to analysts' expectations of $20.75 billion. During the same period in the previous year, the business posted $1.52 EPS. The firm's quarterly revenue was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. As a group, research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

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

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.