Northwest & Ethical Investments L.P. Sells 18,700 Shares of Citigroup Inc. $C

Key Points

• Northwest & Ethical Investments L.P. reduced its stake in Citigroup Inc. by 29.3%, selling 18,700 shares, leaving it with 45,020 shares valued at approximately $3.2 million.
• Citigroup reported a quarterly EPS of $1.96, exceeding analysts' expectations, and had revenues of $21.67 billion, marking an 8.2% year-over-year increase.
• The company announced an increase in its quarterly dividend to $0.60, representing an annualized yield of 2.6%, up from the previous $0.56 dividend.

Northwest & Ethical Investments L.P. lowered its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 29.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,020 shares of the company's stock after selling 18,700 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Citigroup were worth $3,196,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Round Hill Asset Management boosted its stake in Citigroup by 17.5% during the first quarter. Round Hill Asset Management now owns 33,725 shares of the company's stock worth $2,394,000 after buying an additional 5,026 shares in the last quarter. Tyler Stone Wealth Management bought a new position in shares of Citigroup during the 1st quarter worth about $321,000. Raymond James Financial Inc. lifted its holdings in shares of Citigroup by 16.0% during the 1st quarter. Raymond James Financial Inc. now owns 3,266,085 shares of the company's stock worth $231,859,000 after acquiring an additional 449,909 shares during the period. Cowa LLC boosted its position in shares of Citigroup by 14.4% during the 1st quarter. Cowa LLC now owns 6,875 shares of the company's stock valued at $488,000 after acquiring an additional 865 shares in the last quarter. Finally, Roanoke Asset Management Corp NY increased its stake in Citigroup by 32.3% in the first quarter. Roanoke Asset Management Corp NY now owns 73,871 shares of the company's stock valued at $5,244,000 after acquiring an additional 18,049 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

C has been the topic of a number of recent research reports. Morgan Stanley lifted their price objective on Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Evercore ISI set a $77.00 price target on Citigroup in a research note on Monday, July 7th. Piper Sandler increased their target price on shares of Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Keefe, Bruyette & Woods reaffirmed a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. Finally, TD Cowen lifted their price objective on Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a research report on Wednesday, July 16th. Ten equities research 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 company presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.54.

Citigroup Stock Down 0.7%

Citigroup stock traded down $0.6350 during midday trading on Thursday, reaching $92.5350. The stock had a trading volume of 17,633,063 shares, compared to its average volume of 15,728,550. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $96.90. The company has a fifty day moving average price of $88.75 and a two-hundred day moving average price of $78.11. 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 capitalization of $170.35 billion, a P/E ratio of 13.67, a PEG ratio of 0.81 and a beta of 1.38.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly 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 business 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 firm's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, August 4th. This is a positive change from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio is currently 35.45%.

Insiders Place Their Bets

In other news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction 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 $193,456. The trade was a 58.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.08% of the company's stock.

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.