Azimuth Capital Investment Management LLC Acquires 46,740 Shares of Citigroup Inc. $C

Key Points

• Azimuth Capital Investment Management LLC has increased its stake in Citigroup Inc. by 49.5%, acquiring an additional 46,740 shares, bringing its total holdings to 141,113 shares valued at approximately $10 million.
• Citigroup announced a quarterly dividend increase from $0.56 to $0.60 per share, representing a 2.5% yield based on an annualized payout of $2.40.
• Citigroup's earnings per share (EPS) for the last quarter were $1.96, exceeding analysts' expectations of $1.61, alongside a revenue of $21.67 billion which surpassed the forecast of $20.75 billion.

Azimuth Capital Investment Management LLC lifted its holdings in Citigroup Inc. (NYSE:C - Free Report) by 49.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,113 shares of the company's stock after purchasing an additional 46,740 shares during the period. Azimuth Capital Investment Management LLC's holdings in Citigroup were worth $10,018,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Brighton Jones LLC increased its position in shares of Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after acquiring an additional 12,499 shares in the last quarter. CreativeOne Wealth LLC increased its position in shares of Citigroup by 32.5% in the fourth quarter. CreativeOne Wealth LLC now owns 15,882 shares of the company's stock worth $1,118,000 after acquiring an additional 3,896 shares in the last quarter. United Capital Financial Advisors LLC grew its position in Citigroup by 3.0% during the fourth quarter. United Capital Financial Advisors LLC now owns 33,040 shares of the company's stock valued at $2,326,000 after purchasing an additional 966 shares in the last quarter. NewEdge Advisors LLC grew its position in Citigroup by 4.7% during the fourth quarter. NewEdge Advisors LLC now owns 124,336 shares of the company's stock valued at $8,752,000 after purchasing an additional 5,559 shares in the last quarter. Finally, MSH Capital Advisors LLC purchased a new position in Citigroup during the fourth quarter valued at approximately $412,000. Institutional investors and hedge funds own 71.72% of the company's stock.

Citigroup Stock Performance

Shares of Citigroup stock traded down $0.5720 on Tuesday, reaching $93.6480. The stock had a trading volume of 10,823,599 shares, compared to its average volume of 15,753,777. The stock has a market cap of $172.40 billion, a P/E ratio of 13.83, a price-to-earnings-growth ratio of 0.81 and a beta of 1.38. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $96.90. The business's 50-day moving average price is $88.15 and its two-hundred day moving average price is $77.90. 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 (NYSE:C - Get Free Report) last released its earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.61 by $0.35. The firm had revenue of $21.67 billion during 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 quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be given a $0.60 dividend. 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. The ex-dividend date of this dividend is Monday, August 4th. Citigroup's dividend payout ratio (DPR) is currently 35.45%.

Analyst Ratings Changes

A number of brokerages recently commented on C. Wells Fargo & Company boosted their price objective on shares of Citigroup from $110.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. TD Cowen boosted their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a research report on Wednesday, July 16th. Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Bank of America boosted their price objective on shares of Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Finally, Dbs Bank raised shares of Citigroup from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Citigroup currently has an average rating of "Moderate Buy" and an average target price of $96.54.

Insider Transactions at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the completion of the transaction, the director owned 2,140 shares of the company's stock, valued at $193,456. This represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.08% of the stock is owned by company insiders.

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.