Citigroup Inc. $C Shares Sold by The Manufacturers Life Insurance Company

Key Points

• Manulife reduced its Citigroup stake by 7.3% in the second quarter, selling 137,410 shares and retaining 1.74 million shares valued at approximately $242.8 million. Institutional investors collectively own 71.72% of Citigroup.
• Wall Street maintains a generally positive view, with Citigroup receiving a consensus “Moderate Buy” rating and an average price target of $145.22, despite one recent downgrade to “Hold.”
• Citigroup beat quarterly earnings and revenue expectations, reporting $3.15 in EPS and $24.77 billion in revenue, while increasing its quarterly dividend to $0.67 per share, equivalent to a 1.9% annual yield.

The Manufacturers Life Insurance Company lessened its holdings in Citigroup Inc. (NYSE:C - Free Report) by 7.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,735,115 shares of the company's stock after selling 137,410 shares during the period. The Manufacturers Life Insurance Company owned 0.10% of Citigroup worth $242,847,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Compass Financial Management LLC acquired a new stake in shares of Citigroup in the second quarter worth approximately $898,000. UniSuper Management Pty Ltd boosted its holdings in shares of Citigroup by 38.8% in the 4th quarter. UniSuper Management Pty Ltd now owns 1,306,851 shares of the company's stock valued at $152,496,000 after purchasing an additional 365,041 shares during the last quarter. Brighton Jones LLC grew its stake in shares of Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after buying an additional 12,499 shares during the period. Allstate Corp grew its stake in shares of Citigroup by 110.4% during the 4th quarter. Allstate Corp now owns 140,596 shares of the company's stock valued at $16,406,000 after buying an additional 73,758 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Citigroup by 6.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 444,002 shares of the company's stock worth $51,811,000 after buying an additional 27,130 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on C. Zacks Research upgraded Citigroup from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 16th. Evercore set a $143.00 price target on shares of Citigroup in a research report on Monday, July 6th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $150.00 price target on shares of Citigroup in a report on Wednesday, July 15th. Wall Street Zen lowered Citigroup from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Argus set a $150.00 price objective on Citigroup in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $145.22.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Japan tokenized-deposit expansion: Citi plans to offer blockchain-based tokenized deposit remittance services to Japanese corporate clients by the end of 2026. The initiative would make Citi the first foreign financial institution to provide this type of service in Japan and supports its strategy to grow 24/7 cross-border payments and institutional transaction banking. C Pushes Tokenized Deposits Deeper Into Asia With Japan Expansion
• Positive Sentiment: Turnaround and valuation support: Investor commentary characterizes Citigroup’s restructuring as progressing and argues that the stock’s valuation has not fully reflected the improvement. Separate analyst-focused coverage lists C among large investment banks that have rallied strongly while still appearing attractively valued. Citigroup Gains on Turnaround Momentum
• Neutral Sentiment: Private-bank hiring: Citi Private Bank hired Teresa Radzinski from Bank of America to strengthen relationships with ultra-high-net-worth clients. The move may support long-term wealth-management growth but is unlikely to materially affect near-term earnings. Citi Private Bank hires Radzinski from Bank of America
• Negative Sentiment: Macroeconomic and fiscal uncertainty: President Trump’s proposed $5,000 dividend could cost more than $1 trillion and faces legal and funding obstacles. Concerns about additional government borrowing and bond-market volatility could pressure interest rates and create a less favorable backdrop for banks, although the proposal is not specific to Citi. Trump promises $5,000 dividend to U.S. citizens

Citigroup Stock Performance

Shares of C stock opened at $138.42 on Friday. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.99 and a quick ratio of 0.99. The company's fifty day moving average price is $135.02 and its two-hundred day moving average price is $128.18. The firm has a market capitalization of $236.08 billion, a P/E ratio of 14.95, a P/E/G ratio of 0.62 and a beta of 1.12. Citigroup Inc. has a 12 month low of $93.66 and a 12 month high of $147.96.

Citigroup (NYSE:C - Get Free Report) last announced its earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, beating the consensus estimate of $2.74 by $0.41. The company had revenue of $24.77 billion during the quarter, compared to the consensus estimate of $23.74 billion. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The company's revenue was up 14.5% on a year-over-year basis. During the same period last year, the firm earned $1.96 earnings per share. On average, research analysts anticipate that Citigroup Inc. will post 11.2 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 3rd were paid a dividend of $0.67 per share. This is a positive change from Citigroup's previous quarterly dividend of $0.60. The ex-dividend date was Monday, August 3rd. This represents a $2.68 dividend on an annualized basis and a yield of 1.9%. Citigroup's payout ratio is currently 28.94%.

About Citigroup

Citigroup Inc NYSE: C is a global financial services company headquartered in New York City. Through its businesses, Citi provides banking, lending, credit card, wealth management, investment banking, securities, markets and treasury services to individuals, businesses, financial institutions and governments.

The company's operations include U.S. Personal Banking, which offers consumer banking, credit cards and lending products; Wealth Management, which serves affluent and high-net-worth clients; and its Institutional Clients Group, which provides investment banking, corporate banking, markets, securities services and transaction banking.

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