BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Reduces Stake in Citigroup Inc. $C

Key Points

• British Columbia Investment Management Corp reduced its position in Citigroup Inc. by 1.0%, now owning approximately $25.68 million in the company's stock.
• Several analysts have raised their price targets for Citigroup, with Truist Financial setting a new target of $99.00 and Wells Fargo increasing theirs to $115.00, reflecting a generally positive outlook.
• Citigroup announced a quarterly dividend increase to $0.60 per share, marking a positive change from the previous $0.56, with a dividend yield of 2.5%.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 1.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 361,691 shares of the company's stock after selling 3,630 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Citigroup were worth $25,676,000 at the end of the most recent quarter.

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

Citigroup Stock Up 0.7%

Citigroup stock traded up $0.63 during midday trading on Tuesday, hitting $95.63. 11,030,318 shares of the stock were exchanged, compared to its average volume of 14,154,227. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $96.90. The stock has a market capitalization of $176.05 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 0.82 and a beta of 1.38. The business's 50-day moving average price is $90.12 and its 200-day moving average price is $78.49. 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 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.35. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. 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 company earned $1.52 earnings per share. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. On average, research analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

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

Analyst Ratings Changes

A number of research analysts have weighed in on C shares. UBS Group reaffirmed a "neutral" rating and issued a $89.00 price objective on shares of Citigroup in a research note on Tuesday, July 15th. Cowen started coverage on shares of Citigroup in a report on Wednesday, May 14th. They set a "hold" rating for the company. Truist Financial lifted their price objective on shares of Citigroup from $93.00 to $99.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Wall Street Zen upgraded shares of Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, The Goldman Sachs Group lifted their price objective on shares of Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $96.54.

Insiders Place Their Bets

In related news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the transaction, the director directly owned 2,140 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.08% of the company's stock.

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.