Citigroup Inc. $C Shares Sold by Quantitative Investment Management LLC

Key Points

• Quantitative Investment Management LLC reduced its stake in Citigroup by 35.8% during the first quarter, leaving it with 16,744 shares worth approximately $1.19 million.
• Citigroup recently increased its quarterly dividend to $0.60 per share, up from $0.56, resulting in an annualized dividend yield of 2.5%.
• Analysts have set a consensus price target of $96.54 for Citigroup, with ten analysts rating it a Buy and five rating it a Hold.

Quantitative Investment Management LLC lessened its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 35.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,744 shares of the company's stock after selling 9,344 shares during the quarter. Quantitative Investment Management LLC's holdings in Citigroup were worth $1,188,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Bahl & Gaynor Inc. lifted its position in shares of Citigroup by 11.9% during the 1st quarter. Bahl & Gaynor Inc. now owns 3,990 shares of the company's stock worth $283,000 after buying an additional 425 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Citigroup by 8.3% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 145,312 shares of the company's stock worth $10,316,000 after buying an additional 11,093 shares during the last quarter. Haverford Trust Co lifted its position in shares of Citigroup by 1.2% during the 1st quarter. Haverford Trust Co now owns 12,792 shares of the company's stock worth $908,000 after buying an additional 148 shares during the last quarter. Allstate Corp raised its position in Citigroup by 33.2% in the 1st quarter. Allstate Corp now owns 75,059 shares of the company's stock valued at $5,328,000 after purchasing an additional 18,689 shares during the last quarter. Finally, Gitterman Wealth Management LLC purchased a new stake in Citigroup in the 1st quarter valued at $204,000. Hedge funds and other institutional investors own 71.72% of the company's stock.

Citigroup Price Performance

Citigroup stock opened at $95.2040 on Monday. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $96.90. The firm has a fifty day moving average of $89.42 and a 200-day moving average of $78.28. The firm has a market capitalization of $175.26 billion, a P/E ratio of 14.06, a PEG ratio of 0.82 and a beta of 1.38. 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 quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) 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 company had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. During the same quarter in the prior year, the business earned $1.52 earnings per share. The business's quarterly revenue was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. As a group, analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

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

Analysts Set New Price Targets

C has been the topic of several analyst reports. Cowen began coverage on shares of Citigroup in a report on Wednesday, May 14th. They issued a "hold" rating on the stock. Truist Financial increased their price objective 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. Wells Fargo & Company increased their price objective 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. Piper Sandler raised their price target on shares of Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Finally, Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.54.

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 sale, the director 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.08% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.