Wellington Management Group LLP Reduces Stock Position in Citigroup Inc. $C

Key Points

• Wellington Management Group LLP significantly reduced its stake in Citigroup by 66.9%, selling nearly 30,000 shares and holding 14,718 shares valued at approximately $1,045,000.
• Insider transactions reported a sale of 3,000 shares by Director Peter B. Henry, representing a 58.37% decrease in his ownership.
• Citigroup recently announced an increased quarterly dividend of $0.60 per share, up from $0.56, reflecting a 2.5% yield with a payout ratio of 35.45%.

Wellington Management Group LLP lowered its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 66.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,718 shares of the company's stock after selling 29,764 shares during the period. Wellington Management Group LLP's holdings in Citigroup were worth $1,045,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of C. Orion Capital Management LLC purchased a new position in shares of Citigroup during the fourth quarter worth $28,000. MorganRosel Wealth Management LLC purchased a new position in Citigroup during the 1st quarter worth approximately $28,000. Accent Capital Management LLC raised its position in Citigroup by 106.0% in the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company's stock valued at $29,000 after purchasing an additional 212 shares during the last quarter. American National Bank & Trust purchased a new position in shares of Citigroup during the first quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of Citigroup during the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 71.72% of the company's stock.

Analysts Set New Price Targets

C has been the subject of several recent research reports. Piper Sandler raised their target price on shares of Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Bank of America upped their price target on shares of Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Keefe, Bruyette & Woods reaffirmed a "buy" rating on shares of Citigroup in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company lifted their target price on Citigroup from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Citigroup currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.96.

Insider Transactions at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the completion of the sale, the director owned 2,140 shares of the company's stock, valued at $193,456. The trade was a 58.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.08% of the stock is owned by company insiders.

Citigroup Price Performance

C stock traded up $1.81 during trading on Thursday, hitting $96.84. The company had a trading volume of 7,131,031 shares, compared to its average volume of 15,558,345. 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 cap of $178.27 billion, a P/E ratio of 14.30, a P/E/G ratio of 0.83 and a beta of 1.41. The company has a fifty day moving average price of $92.09 and a two-hundred day moving average price of $79.10. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $97.49.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results 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 company had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company's revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. Equities research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

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