Citigroup Inc. $C Shares Acquired by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board increased its stake in Citigroup Inc. by 18.1%, owning approximately 0.16% of the company worth $208.7 million by the end of the last quarter.
• Citigroup has received several positive analyst upgrades, with price targets raised by firms such as Goldman Sachs and Bank of America, reflecting a consensus rating of "Moderate Buy".
• The company recently increased its dividend to $0.60 per share, up from $0.56, resulting in an annualized yield of 2.5%.

Canada Pension Plan Investment Board boosted its stake in Citigroup Inc. (NYSE:C - Free Report) by 18.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,940,542 shares of the company's stock after buying an additional 451,561 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.16% of Citigroup worth $208,749,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in C. Goldman Sachs Group Inc. lifted its stake in shares of Citigroup by 179.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock worth $1,031,790,000 after purchasing an additional 9,334,038 shares during the period. Nuveen LLC purchased a new position in shares of Citigroup during the 1st quarter worth $578,100,000. Price T Rowe Associates Inc. MD raised 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 worth $2,917,794,000 after buying an additional 2,539,769 shares during the period. B. Metzler seel. Sohn & Co. AG raised its position in shares of Citigroup by 2,230.8% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 2,630,308 shares of the company's stock worth $186,726,000 after buying an additional 2,517,459 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Citigroup by 7,899.8% in the 1st quarter. GAMMA Investing LLC now owns 2,430,414 shares of the company's stock worth $172,535,000 after buying an additional 2,400,033 shares during the period. Hedge funds and other institutional investors own 71.72% of the company's stock.

Analyst Upgrades and Downgrades

C has been the topic of several research reports. Piper Sandler increased their target price on Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Morgan Stanley increased their target price on Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Evercore ISI set a $77.00 target price on Citigroup in a research report on Monday, July 7th. Cowen initiated coverage on Citigroup in a research report on Wednesday, May 14th. They issued a "hold" rating on the stock. Finally, Oppenheimer increased their target price on Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $96.54.

Insider Buying and Selling at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the sale, the director directly owned 2,140 shares in the company, valued at $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.08% of the stock is owned by corporate insiders.

Citigroup Stock Down 0.3%

NYSE C traded down $0.28 during trading hours on Monday, hitting $96.54. The company had a trading volume of 8,361,286 shares, compared to its average volume of 13,257,021. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $97.49. The company has a market capitalization of $177.72 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 0.83 and a beta of 1.41. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99. The firm's 50 day moving average is $91.23 and its 200 day moving average is $78.80.

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

Citigroup Increases Dividend

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

About Citigroup

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.