Allstate Corp Buys 18,689 Shares of Citigroup Inc. $C

Key Points

• Allstate Corp increased its stake in Citigroup Inc. by 33.2%, owning a total of 75,059 shares valued at $5.3 million after acquiring an additional 18,689 shares in the first quarter.
• Citigroup reported a quarterly EPS of $1.96, surpassing estimates by $0.35, with revenues of $21.67 billion—an 8.2% increase year-over-year.
• The company announced a quarterly dividend of $0.60 per share, reflecting a positive change from the previous dividend of $0.56 and a yield of 2.6%.

Allstate Corp lifted its stake in Citigroup Inc. (NYSE:C - Free Report) by 33.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 75,059 shares of the company's stock after acquiring an additional 18,689 shares during the quarter. Allstate Corp's holdings in Citigroup were worth $5,328,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Gitterman Wealth Management LLC acquired a new position in shares of Citigroup during the 1st quarter worth approximately $204,000. D.B. Root & Company LLC bought a new position in shares of Citigroup in the first quarter valued at $203,000. 1832 Asset Management L.P. increased its holdings in Citigroup by 1,808.5% during the first quarter. 1832 Asset Management L.P. now owns 542,084 shares of the company's stock worth $38,483,000 after buying an additional 513,680 shares during the last quarter. Compound Planning Inc. raised its position in Citigroup by 3.9% during the first quarter. Compound Planning Inc. now owns 30,440 shares of the company's stock worth $2,161,000 after acquiring an additional 1,135 shares in the last quarter. Finally, Hobbs Group Advisors LLC lifted its stake in Citigroup by 29.7% in the first quarter. Hobbs Group Advisors LLC now owns 12,828 shares of the company's stock valued at $911,000 after acquiring an additional 2,934 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Price Performance

Shares of Citigroup stock opened at $92.5350 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $170.35 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 0.80 and a beta of 1.38. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $96.90. The company has a 50-day simple moving average of $89.04 and a two-hundred day simple moving average of $78.20.

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

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be given 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 is Monday, August 4th. This is a positive change from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio is currently 35.45%.

Insider Activity

In related news, Director Peter B. Henry sold 3,000 shares of the firm's stock in a transaction on Wednesday, July 16th. The stock was 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 in the company, valued at approximately $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on C shares. Dbs Bank upgraded shares of Citigroup from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Piper Sandler lifted their target price on Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Truist Financial increased their price target on Citigroup from $93.00 to $99.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, UBS Group reaffirmed a "neutral" rating and set a $89.00 price objective on shares of Citigroup in a research report on Tuesday, July 15th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target 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.

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