Bank of Hawaii Makes New Investment in Citigroup Inc. $C

Key Points

• Bank of Hawaii has made a new investment in Citigroup by purchasing 8,358 shares valued at approximately $593,000, according to a recent SEC filing.
• Citigroup's stock performance has shown an increase in quarterly earnings, with an EPS of $1.96, surpassing analysts' expectations of $1.61.
• The company has raised its quarterly dividend from $0.56 to $0.60, resulting in an annualized dividend yield of 2.5%.

Bank of Hawaii purchased a new position in Citigroup Inc. (NYSE:C - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 8,358 shares of the company's stock, valued at approximately $593,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its stake in shares of Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after purchasing an additional 12,499 shares in the last quarter. Coldstream Capital Management Inc. lifted its stake in shares of Citigroup by 24.8% in the 4th quarter. Coldstream Capital Management Inc. now owns 26,488 shares of the company's stock valued at $1,864,000 after purchasing an additional 5,256 shares in the last quarter. Beacon Pointe Advisors LLC lifted its stake in shares of Citigroup by 10.9% in the 4th quarter. Beacon Pointe Advisors LLC now owns 72,466 shares of the company's stock valued at $5,101,000 after purchasing an additional 7,138 shares in the last quarter. Bellwether Advisors LLC acquired a new position in shares of Citigroup in the 4th quarter valued at about $72,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Citigroup by 16.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 2,454,296 shares of the company's stock valued at $172,758,000 after purchasing an additional 350,508 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the company'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 directly owned 2,140 shares of the company's stock, valued at $193,456. This represents a 58.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.08% of the stock is currently owned by insiders.

Citigroup Stock Performance

Shares of C opened at $95.00 on Tuesday. The business's 50 day moving average is $89.76 and its two-hundred day moving average is $78.37. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $96.90. The firm has a market cap of $174.89 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 0.82 and a beta of 1.38. 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 earnings results 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 company had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same period in the prior year, the company posted $1.52 EPS. Citigroup's quarterly revenue was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. Analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was 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%.

Wall Street Analysts Forecast Growth

C has been the topic of several research analyst reports. Morgan Stanley lifted their price objective on Citigroup from $103.00 to $107.00 and gave the company 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 research note on Friday, July 18th. Evercore ISI set a $77.00 price objective on Citigroup in a research note on Monday, July 7th. Keefe, Bruyette & Woods reaffirmed a "buy" rating on shares of Citigroup in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company lifted their price objective on Citigroup from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Citigroup presently 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.

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