Amundi Grows Stock Position in Citigroup Inc. $C

Key Points

• Amundi has significantly increased its stake in Citigroup Inc., growing its holdings by 78.4% during the first quarter, now owning approximately 0.73% of the company valued at $973 million.
• Several other institutional investors, including Aprio Wealth Management and Dark Forest Capital Management, have also increased their positions, indicating strong institutional interest in Citigroup.
• Citigroup has announced a quarterly dividend increase to $0.60 per share, reflecting a healthy 2.5% dividend yield and a payout ratio of 35.45%.

Amundi increased its holdings in Citigroup Inc. (NYSE:C - Free Report) by 78.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,713,517 shares of the company's stock after buying an additional 6,026,268 shares during the period. Amundi owned 0.73% of Citigroup worth $973,523,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Aprio Wealth Management LLC increased its position in shares of Citigroup by 50.1% in the first quarter. Aprio Wealth Management LLC now owns 7,411 shares of the company's stock worth $526,000 after purchasing an additional 2,475 shares during the last quarter. Federation des caisses Desjardins du Quebec grew its position in Citigroup by 44.3% in the first quarter. Federation des caisses Desjardins du Quebec now owns 861,944 shares of the company's stock worth $61,213,000 after acquiring an additional 264,470 shares in the last quarter. Dark Forest Capital Management LP increased its stake in Citigroup by 239.5% in the first quarter. Dark Forest Capital Management LP now owns 76,709 shares of the company's stock valued at $5,446,000 after acquiring an additional 54,114 shares during the last quarter. EP Wealth Advisors LLC increased its stake in Citigroup by 67.1% in the first quarter. EP Wealth Advisors LLC now owns 60,091 shares of the company's stock valued at $4,266,000 after acquiring an additional 24,123 shares during the last quarter. Finally, LGL Partners LLC bought a new position in Citigroup in the first quarter valued at $219,000. 71.72% of the stock is currently owned by institutional investors.

Citigroup Trading Down 1.7%

Shares of NYSE C 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. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $97.98. 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 stock has a 50-day moving average price of $92.56 and a 200 day moving average price of $79.23. The firm has a market cap of $175.69 billion, a P/E ratio of 14.10, a P/E/G ratio of 0.82 and a beta of 1.41.

Citigroup (NYSE:C - Get Free Report) last released 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. The firm had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company's revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. As a group, analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently disclosed 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 is a positive change from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Monday, August 4th. This represents a $2.40 annualized dividend and a yield of 2.5%. Citigroup's payout ratio is currently 35.45%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Piper Sandler increased their target price on Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. 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. Bank of America raised their price objective on Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Finally, Cowen assumed coverage on Citigroup in a research note on Wednesday, May 14th. They set a "hold" rating for the company. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $96.96.

Insider Buying and Selling

In related 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 sale, the director directly owned 2,140 shares of the company's stock, valued at approximately $193,456. This represents a 58.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.08% of the company's stock.

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.