Hayek Kallen Investment Management Buys 8,630 Shares of Citigroup Inc. $C

Key Points

• Hayek Kallen Investment Management increased its stake in Citigroup Inc. by 125% in the first quarter, holding 15,534 shares worth approximately $1.1 million at the end of the reporting period.
• Multiple institutional investors significantly boosted their holdings in Citigroup, with Alden Global Capital LLC increasing its stake by 67.6%, now owning shares valued at $4.98 million.
• Citigroup recently raised its quarterly dividend to $0.60 per share, up from $0.56, indicating a positive trend in shareholder returns.

Hayek Kallen Investment Management lifted its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 125.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,534 shares of the company's stock after purchasing an additional 8,630 shares during the period. Hayek Kallen Investment Management's holdings in Citigroup were worth $1,103,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of C. Baird Financial Group Inc. lifted its holdings in Citigroup by 10.2% in the first quarter. Baird Financial Group Inc. now owns 399,529 shares of the company's stock valued at $28,363,000 after buying an additional 36,860 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its holdings in Citigroup by 8.3% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 5,530 shares of the company's stock valued at $393,000 after buying an additional 424 shares during the period. Panagora Asset Management Inc. lifted its holdings in Citigroup by 225.2% in the first quarter. Panagora Asset Management Inc. now owns 52,474 shares of the company's stock valued at $3,725,000 after buying an additional 36,339 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Citigroup by 8.8% in the first quarter. The Manufacturers Life Insurance Company now owns 2,669,719 shares of the company's stock valued at $189,523,000 after buying an additional 215,423 shares during the period. Finally, Clough Capital Partners L P acquired a new position in Citigroup in the first quarter valued at approximately $10,786,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Dbs Bank raised shares of Citigroup from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Morgan Stanley upped their target price on shares of Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Bank of America upped their target price on shares of Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Truist Financial upped their target price on shares of Citigroup from $93.00 to $99.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company upped their target price on shares of Citigroup from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Citigroup presently has an average rating of "Moderate Buy" and a consensus price target of $96.54.

Citigroup Stock Down 1.9%

NYSE C traded down $1.84 on Tuesday, hitting $94.73. 15,124,889 shares of the company were exchanged, compared to its average volume of 12,676,451. The company has a market cap of $174.39 billion, a PE ratio of 14.26, a PEG ratio of 0.83 and a beta of 1.41. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $97.49. The stock has a fifty day moving average of $91.57 and a 200-day moving average of $78.88. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $20.75 billion. During the same quarter in the prior year, the company posted $1.52 earnings per share. The business's revenue was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. As a group, analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were issued a $0.60 dividend. This is an increase 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 dividend payout ratio is currently 35.45%.

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 value of $271,200.00. Following the completion of the sale, the director owned 2,140 shares in the company, valued at $193,456. This represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.08% of the stock is currently owned by corporate insiders.

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.