Acadian Asset Management LLC Sells 112,594 Shares of Citigroup Inc. $C

Key Points

• Acadian Asset Management LLC reduced its holdings in Citigroup by 1.9%, owning approximately 5.78 million shares, making it the 20th largest holding in their portfolio.
• Citigroup's recent earnings report showed an EPS of $1.96, exceeding analysts' expectations, with a revenue of $21.67 billion, marking an 8.2% increase year-over-year.
• The company declared a quarterly dividend of $0.60 per share, boosting its annualized dividend yield to 2.5%, up from the previous $0.56 per share.

Acadian Asset Management LLC reduced its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 1.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,784,909 shares of the company's stock after selling 112,594 shares during the quarter. Citigroup accounts for approximately 1.2% of Acadian Asset Management LLC's portfolio, making the stock its 20th largest holding. Acadian Asset Management LLC owned about 0.31% of Citigroup worth $410,652,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC grew its stake in shares of Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after purchasing an additional 12,499 shares during the last quarter. Gotham Asset Management LLC grew its stake in shares of Citigroup by 0.7% in the fourth quarter. Gotham Asset Management LLC now owns 47,770 shares of the company's stock worth $3,363,000 after purchasing an additional 344 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Citigroup by 6.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,233 shares of the company's stock worth $18,881,000 after purchasing an additional 16,000 shares during the last quarter. Mubadala Investment Co PJSC bought a new stake in shares of Citigroup in the fourth quarter worth about $4,241,000. Finally, OMERS ADMINISTRATION Corp grew its stake in shares of Citigroup by 50.9% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 99,377 shares of the company's stock worth $6,995,000 after purchasing an additional 33,532 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction that occurred 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 completion of the transaction, the director directly owned 2,140 shares in the company, valued at approximately $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Bank of America raised their target price on Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Evercore ISI set a $77.00 target price on Citigroup in a research note on Monday, July 7th. UBS Group reissued a "neutral" rating and issued a $89.00 target price on shares of Citigroup in a research note on Tuesday, July 15th. Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Piper Sandler raised their target price on Citigroup from $84.00 to $104.00 and gave the stock 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 given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $96.96.

Citigroup Stock Up 0.7%

Shares of C stock traded up $0.69 during trading hours on Friday, hitting $99.51. 9,502,253 shares of the company's stock traded hands, compared to its average volume of 12,405,087. The stock's fifty day simple moving average is $93.63 and its two-hundred day simple moving average is $79.86. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $99.70. The stock has a market cap of $183.19 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 0.85 and a beta of 1.41. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61.

Citigroup (NYSE:C - Get Free Report) last released its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $20.75 billion. During the same period last year, the business earned $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. On average, analysts expect that Citigroup Inc. will post 7.53 EPS for the current 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 issued a dividend of $0.60 per share. The ex-dividend date was Monday, August 4th. This is a positive change from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a dividend yield of 2.4%. Citigroup's dividend payout ratio (DPR) 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.