Channing Capital Management LLC Has $10.28 Million Stock Position in Citigroup Inc. $C

Key Points

• Channing Capital Management LLC has reduced its stake in Citigroup Inc. by 3.9%, now holding 144,820 shares valued at approximately $10.28 million.
• In the latest quarterly earnings, Citigroup reported $1.96 earnings per share, surpassing the estimated $1.61, with total revenue reaching $21.67 billion.
• The firm announced an increase in its quarterly dividend to $0.60 per share, reflecting a 2.6% yield for shareholders.

Channing Capital Management LLC lowered its position in Citigroup Inc. (NYSE:C - Free Report) by 3.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,820 shares of the company's stock after selling 5,809 shares during the period. Channing Capital Management LLC's holdings in Citigroup were worth $10,281,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. CW Advisors LLC increased its position in shares of Citigroup by 9.1% in the 1st quarter. CW Advisors LLC now owns 105,762 shares of the company's stock valued at $7,523,000 after buying an additional 8,790 shares in the last quarter. Summit Financial LLC increased its position in shares of Citigroup by 44.9% in the 1st quarter. Summit Financial LLC now owns 21,627 shares of the company's stock valued at $1,535,000 after buying an additional 6,701 shares in the last quarter. United Asset Strategies Inc. bought a new stake in shares of Citigroup in the 1st quarter valued at $9,276,000. Kaufman Rossin Wealth LLC bought a new stake in shares of Citigroup in the 1st quarter valued at $505,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Citigroup by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company's stock valued at $2,917,794,000 after buying an additional 2,539,769 shares in the last quarter. Institutional investors own 71.72% of the company's stock.

Insider Activity at Citigroup

In other 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 transaction of $271,200.00. Following the completion of the transaction, the director directly owned 2,140 shares in the company, valued at $193,456. This represents a 58.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Stock Up 2.8%

Shares of Citigroup stock traded up $2.6140 during trading hours on Friday, reaching $95.2040. 20,110,841 shares of the company's stock were exchanged, compared to its average volume of 14,361,365. The company has a 50 day moving average of $89.42 and a two-hundred day moving average of $78.31. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $96.90. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61. The stock has a market cap of $175.26 billion, a P/E ratio of 14.06, a P/E/G ratio of 0.82 and a beta of 1.38.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. During the same period in the prior year, the business posted $1.52 EPS. The company's quarterly revenue was up 8.2% on a year-over-year basis. 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 fiscal year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were paid a dividend of $0.60 per share. The ex-dividend date was Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. This is a positive change from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio (DPR) is currently 35.45%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on C. Oppenheimer upped their price objective on shares of Citigroup from $123.00 to $124.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. UBS Group reiterated a "neutral" rating and set a $89.00 target price on shares of Citigroup in a report on Tuesday, July 15th. Evercore ISI set a $77.00 target price on Citigroup in a report on Monday, July 7th. Wall Street Zen upgraded Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, Wells Fargo & Company increased their target price on Citigroup from $110.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus 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.