Citigroup Inc. $C Shares Sold by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio reduced its holdings in Citigroup Inc. by 6.3% in the second quarter, resulting in ownership of 803,989 shares worth approximately $68 million.
• Analysts have mixed ratings for Citigroup, with Morgan Stanley raising its price target from $103.00 to $107.00, while Zacks downgraded it from a "strong-buy" to a "hold" rating.
• Citigroup announced an increase in its quarterly dividend to $0.60 per share, up from $0.56, resulting in an annualized rate of $2.40 and a yield of 2.3%.

Public Employees Retirement System of Ohio cut its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 6.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 803,989 shares of the company's stock after selling 54,414 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Citigroup were worth $68,436,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after buying an additional 12,499 shares during the last quarter. State of Wyoming acquired a new position in Citigroup during the 4th quarter worth $145,000. GF Fund Management CO. LTD. acquired a new position in Citigroup during the 4th quarter worth $66,000. Heck Capital Advisors LLC bought a new stake in shares of Citigroup in the 4th quarter worth $97,000. Finally, Carolinas Wealth Consulting LLC raised its stake in shares of Citigroup by 43.9% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 1,128 shares of the company's stock worth $79,000 after buying an additional 344 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.

Insider Buying and Selling

In related news, Director Peter B. Henry sold 3,000 shares of Citigroup 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 transaction, the director 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 SEC, which is accessible through this hyperlink. Insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Morgan Stanley boosted their price objective on Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods reaffirmed a "buy" rating on shares of Citigroup in a research report on Wednesday, July 16th. Dbs Bank upgraded Citigroup from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Zacks Research downgraded Citigroup from a "strong-buy" rating to a "hold" rating in a report on Monday, September 15th. Finally, Barclays boosted their target price on Citigroup from $95.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Citigroup has an average rating of "Moderate Buy" and an average target price of $97.61.

Citigroup Stock Performance

C stock opened at $103.01 on Wednesday. The business's fifty day moving average is $95.69 and its 200-day moving average is $81.20. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. The company has a market cap of $189.63 billion, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 0.89 and a beta of 1.41. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $105.59.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The business had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. During the same quarter last year, the business posted $1.52 EPS. The firm's revenue was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. Equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors 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 an increase from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a yield of 2.3%. Citigroup's dividend payout ratio is 35.45%.

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.

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