Miller Howard Investments Inc. NY Grows Stock Holdings in Citigroup Inc. $C

Key Points

• Miller Howard Investments Inc. increased its stake in Citigroup by 27.4% in the second quarter, owning 592,964 shares valued at approximately $50.5 million.
• Citigroup reported earnings per share of $1.96 for the last quarter, surpassing estimates and showing an 8.2% year-over-year revenue growth.
• The company recently announced a quarterly dividend increase from $0.56 to $0.60, resulting in an annualized yield of 2.3% and a payout ratio of 35.45%.

Miller Howard Investments Inc. NY lifted its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 27.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 592,964 shares of the company's stock after purchasing an additional 127,447 shares during the period. Citigroup accounts for 1.6% of Miller Howard Investments Inc. NY's investment portfolio, making the stock its 26th biggest holding. Miller Howard Investments Inc. NY's holdings in Citigroup were worth $50,473,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Citigroup by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company's stock worth $2,917,794,000 after purchasing an additional 2,539,769 shares during the last quarter. Northern Trust Corp increased its stake in shares of Citigroup by 1.0% during the 1st quarter. Northern Trust Corp now owns 20,427,563 shares of the company's stock worth $1,450,153,000 after purchasing an additional 195,013 shares during the last quarter. Invesco Ltd. increased its stake in shares of Citigroup by 3.6% during the 1st quarter. Invesco Ltd. now owns 16,839,915 shares of the company's stock worth $1,195,466,000 after purchasing an additional 592,820 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Citigroup by 179.5% in the 1st 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 during the period. Finally, Amundi boosted its holdings in Citigroup by 78.4% in the 1st quarter. Amundi now owns 13,713,517 shares of the company's stock worth $973,523,000 after buying an additional 6,026,268 shares during the period. Hedge funds and other institutional investors own 71.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on C. Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Morgan Stanley raised their price objective on shares of Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. UBS Group reaffirmed a "neutral" rating and issued a $89.00 price objective on shares of Citigroup in a report on Tuesday, July 15th. Truist Financial raised their price objective on shares of Citigroup from $99.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Finally, Keefe, Bruyette & Woods reaffirmed a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, Citigroup presently has an average rating of "Moderate Buy" and an average price target of $97.68.

Insider Buying and Selling at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction on Wednesday, July 16th. The shares were 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 in the company, valued at $193,456. This trade represents a 58.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.08% of the company's stock.

Citigroup Price Performance

Shares of Citigroup stock traded up $0.88 on Monday, hitting $103.56. 11,380,687 shares of the company traded hands, compared to its average volume of 15,465,943. The firm's 50-day simple moving average is $95.12 and its 200 day simple moving average is $80.82. 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 company has a market cap of $190.64 billion, a P/E ratio of 15.30, a P/E/G ratio of 0.88 and a beta of 1.41. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $103.81.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.35. The firm had revenue of $21.67 billion for the quarter, compared to analysts' expectations of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The business's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company posted $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. Analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were given a dividend of $0.60 per share. This is an increase from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date was Monday, August 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.3%. Citigroup's dividend payout ratio is 35.45%.

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.