Citigroup Inc. $C is Te Ahumairangi Investment Management Ltd's 10th Largest Position

Key Points

• Te Ahumairangi Investment Management Ltd reduced its position in Citigroup Inc. by 11.4%, now holding 132,960 shares valued at approximately $9.44 million.
• Citigroup reported $1.96 earnings per share in its recent quarter, surpassing estimates, with revenue of $21.67 billion, indicating an 8.2% increase compared to the previous year.
• The company recently increased its quarterly dividend from $0.56 to $0.60, representing an annualized dividend yield of 2.5%.

Te Ahumairangi Investment Management Ltd cut its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 11.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 132,960 shares of the company's stock after selling 17,102 shares during the period. Citigroup comprises approximately 2.0% of Te Ahumairangi Investment Management Ltd's investment portfolio, making the stock its 10th biggest position. Te Ahumairangi Investment Management Ltd's holdings in Citigroup were worth $9,439,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of C. Goldman Sachs Group Inc. lifted its position in shares of Citigroup by 179.5% during the first quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock worth $1,031,790,000 after purchasing an additional 9,334,038 shares in the last quarter. Nuveen LLC purchased a new stake in Citigroup in the 1st quarter worth about $578,100,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Citigroup by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company's stock worth $2,917,794,000 after purchasing an additional 2,539,769 shares in the last quarter. B. Metzler seel. Sohn & Co. AG increased its holdings in Citigroup by 2,230.8% in the first quarter. B. Metzler seel. Sohn & Co. AG now owns 2,630,308 shares of the company's stock valued at $186,726,000 after purchasing an additional 2,517,459 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Citigroup by 7,899.8% in the first quarter. GAMMA Investing LLC now owns 2,430,414 shares of the company's stock valued at $172,535,000 after buying an additional 2,400,033 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Citigroup Price Performance

NYSE C traded down $1.84 during trading on Tuesday, hitting $94.73. 15,002,555 shares of the stock traded hands, compared to its average volume of 15,604,771. The company has a market capitalization of $174.39 billion, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 0.83 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 Inc. has a 12-month low of $55.51 and a 12-month high of $97.49. The firm has a 50-day simple moving average of $91.57 and a 200-day simple moving average of $78.88.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $21.67 billion for the quarter, compared to analysts' expectations of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The company's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the firm earned $1.52 earnings per share. 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 business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 4th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Monday, August 4th. Citigroup's payout ratio is presently 35.45%.

Wall Street Analyst Weigh In

Several research firms recently commented on C. Wall Street Zen upgraded Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. The Goldman Sachs Group raised their price target on shares of Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Evercore ISI set a $77.00 target price on shares of Citigroup in a research note on Monday, July 7th. Piper Sandler upped their price target on shares of Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Finally, Bank of America increased their price objective on shares of Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $96.54.

Insider Transactions at Citigroup

In other Citigroup 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. 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 accessible through the SEC website. Insiders own 0.08% of the company's stock.

Citigroup 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.