Citigroup Inc. $C Shares Acquired by Banco BTG Pactual S.A.

Key Points

• Banco BTG Pactual S.A. increased its stake in Citigroup Inc. by 167.1%, owning 80,126 shares valued at approximately $5.69 million.
• Citigroup recently announced a quarterly dividend increase to $0.60 per share, marking a positive change from the previous $0.56 and reflecting a dividend yield of 2.6%.
• Citigroup outperformed earnings expectations with $1.96 earnings per share reported for the quarter, above the consensus estimate of $1.61.

Banco BTG Pactual S.A. lifted its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 167.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 80,126 shares of the company's stock after buying an additional 50,126 shares during the quarter. Citigroup makes up approximately 1.4% of Banco BTG Pactual S.A.'s portfolio, making the stock its 22nd biggest position. Banco BTG Pactual S.A.'s holdings in Citigroup were worth $5,688,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its position in shares of 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 buying an additional 815,003 shares in the last quarter. Northern Trust Corp grew its position in shares of Citigroup by 1.0% during the first quarter. Northern Trust Corp now owns 20,427,563 shares of the company's stock worth $1,450,153,000 after buying an additional 195,013 shares in the last quarter. Invesco Ltd. grew its position in shares of Citigroup by 3.6% during the first 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 in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Citigroup by 179.5% during the first 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 in the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of Citigroup by 0.3% during the fourth quarter. Nuveen Asset Management LLC now owns 13,454,775 shares of the company's stock worth $947,082,000 after buying an additional 46,646 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on C shares. Cowen started coverage on Citigroup in a research note on Wednesday, May 14th. They set a "hold" rating for the company. Evercore ISI set a $77.00 target price on Citigroup in a research note on Monday, July 7th. TD Cowen boosted their target price on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research note on Wednesday, July 16th. UBS Group restated a "neutral" rating and set a $89.00 target price on shares of Citigroup in a research note on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods restated a "buy" rating on shares of Citigroup in a research note on Wednesday, July 16th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $96.54.

Citigroup Stock Performance

C traded up $2.6140 during trading on Friday, hitting $95.2040. 20,110,841 shares of the stock were exchanged, compared to its average volume of 14,361,365. The firm has a market capitalization of $175.26 billion, a P/E ratio of 14.06, a PEG ratio of 0.82 and a beta of 1.38. Citigroup Inc. has a 1-year low of $55.51 and a 1-year high of $96.90. The stock has a fifty day moving average price of $89.42 and a two-hundred day moving average price of $78.31. 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 released its quarterly 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 analyst estimates of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The firm's revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.5%. This is a positive change from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Monday, August 4th. Citigroup's dividend payout ratio is presently 35.45%.

Insider Buying and Selling

In other news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $193,456. The trade was a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.08% of the stock is currently owned by company insiders.

About Citigroup

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.