Citigroup Inc. $C Shares Purchased by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. ET AL increased its stake in Citigroup by 5.3%, owning 51,324 shares valued at approximately $3.64 million.
• Citigroup reported a quarterly earnings per share of $1.96, which exceeded analysts' expectations, alongside revenue growth of 8.2% year-over-year.
• The company announced a quarterly dividend increase from $0.56 to $0.60 per share, reflecting a 2.5% dividend yield.

Gamco Investors INC. ET AL raised its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 5.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,324 shares of the company's stock after acquiring an additional 2,602 shares during the period. Gamco Investors INC. ET AL's holdings in Citigroup were worth $3,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of C. Goldman Sachs Group Inc. boosted its stake 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 valued at $1,031,790,000 after purchasing an additional 9,334,038 shares during the period. Nuveen LLC acquired a new stake in Citigroup in the first quarter valued at approximately $578,100,000. Price T Rowe Associates Inc. MD grew its stake in shares of Citigroup by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company's stock worth $2,917,794,000 after acquiring an additional 2,539,769 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Citigroup by 7,899.8% during the first quarter. GAMMA Investing LLC now owns 2,430,414 shares of the company's stock worth $172,535,000 after buying an additional 2,400,033 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Citigroup by 16.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,497,812 shares of the company's stock valued at $879,721,000 after purchasing an additional 1,794,597 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on C shares. Keefe, Bruyette & Woods reissued a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Oppenheimer boosted their target price on shares of Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Evercore ISI set a $77.00 price target on shares of Citigroup in a research note on Monday, July 7th. Finally, Barclays lifted their price target on Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $96.54.

Insider Buying and Selling at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the transaction, the director directly owned 2,140 shares of the company's stock, valued at $193,456. This 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 link. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Trading Down 2.3%

Citigroup stock traded down $2.20 during midday trading on Tuesday, reaching $94.37. 10,121,339 shares of the stock traded hands, compared to its average volume of 15,590,123. 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 firm has a market cap of $173.72 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 0.83 and a beta of 1.41. The company has a 50-day simple moving average of $91.57 and a two-hundred day simple moving average of $78.88. Citigroup Inc. has a 12-month low of $55.51 and a 12-month 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 for the quarter, beating 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 firm had revenue of $21.67 billion for the quarter, compared to analysts' expectations of $20.75 billion. During the same quarter last year, the company earned $1.52 earnings per share. The firm's revenue was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. Research analysts expect that Citigroup Inc. will post 7.53 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 22nd. Shareholders of record on Monday, August 4th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $2.40 annualized dividend and a yield of 2.5%. This is a boost from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio (DPR) is currently 35.45%.

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.