Alden Global Capital LLC Buys 85,112 Shares of Citigroup Inc. $C

Key Points

• Alden Global Capital LLC increased its stake in Citigroup Inc. by 120.3% during Q1, now holding about 155,842 shares, which comprise 11.8% of its investment portfolio.
• Citigroup's stock has an average analyst rating of Moderate Buy with an average price target of $96.54, reflecting positive sentiment from multiple investment firms.
• The company recently raised its quarterly dividend to $0.60 per share, representing a 2.5% dividend yield and indicating strong financial performance.

Alden Global Capital LLC grew its position in Citigroup Inc. (NYSE:C - Free Report) by 120.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,842 shares of the company's stock after acquiring an additional 85,112 shares during the period. Citigroup comprises about 11.8% of Alden Global Capital LLC's portfolio, making the stock its 2nd largest holding. Alden Global Capital LLC's holdings in Citigroup were worth $11,063,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Orion Capital Management LLC bought a new stake in shares of Citigroup during the 4th quarter worth about $28,000. MorganRosel Wealth Management LLC bought a new stake in shares of Citigroup during the 1st quarter worth about $28,000. Accent Capital Management LLC boosted its holdings in shares of Citigroup by 106.0% during the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company's stock worth $29,000 after buying an additional 212 shares during the period. American National Bank & Trust bought a new stake in shares of Citigroup during the 1st quarter worth about $29,000. Finally, Truvestments Capital LLC raised its stake in Citigroup by 131.6% in the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company's stock worth $31,000 after purchasing an additional 246 shares in the last quarter. Institutional investors own 71.72% of the company's stock.

Citigroup Price Performance

Shares of Citigroup stock traded down $1.64 during midday trading on Friday, hitting $95.44. 17,018,341 shares of the company traded hands, compared to its average volume of 12,488,161. The stock has a market cap of $175.69 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 0.84 and a beta of 1.41. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. The firm's fifty day moving average price is $92.56 and its 200-day moving average price is $79.26. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $97.98.

Citigroup (NYSE:C - Get Free Report) last posted its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share 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 firm had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same period in the previous year, the firm posted $1.52 EPS. The company'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. As a group, sell-side analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

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

Insider Activity

In related news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction on 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 owned 2,140 shares in the company, valued at $193,456. The trade was a 58.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods restated a "buy" rating on shares of Citigroup in a research report on Wednesday, July 16th. UBS Group restated a "neutral" rating and issued a $89.00 target price on shares of Citigroup in a research report on Tuesday, July 15th. The Goldman Sachs Group boosted their target price on shares of Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Wall Street Zen upgraded shares of Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Finally, Cowen assumed coverage on shares of Citigroup in a research report on Wednesday, May 14th. They issued a "hold" rating for the company. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $96.96.

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.