Citigroup Inc. $C Shares Acquired by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD increased its stake in Citigroup Inc. by 6.6%, owning approximately 41 million shares valued at nearly $2.92 billion, following the purchase of over 2.5 million additional shares.
• Recent analyst ratings show a positive outlook for Citigroup, with ten analysts rating it as a Buy and a consensus price target of $96.54.
• Citigroup declared a quarterly dividend of $0.60, up from the previous $0.56, reflecting a 2.6% yield, with an upcoming payment date set for August 22nd.

Price T Rowe Associates Inc. MD grew its stake in Citigroup Inc. (NYSE:C - Free Report) by 6.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,101,459 shares of the company's stock after acquiring an additional 2,539,769 shares during the quarter. Price T Rowe Associates Inc. MD owned about 2.18% of Citigroup worth $2,917,794,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Orion Capital Management LLC acquired a new stake in shares of Citigroup during the 4th quarter worth about $28,000. MorganRosel Wealth Management LLC acquired a new stake in shares of Citigroup during the 1st quarter worth about $28,000. American National Bank & Trust acquired a new stake in shares of Citigroup during the 1st quarter worth about $29,000. Accent Capital Management LLC increased its position in shares of Citigroup by 106.0% during the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company's stock worth $29,000 after purchasing an additional 212 shares during the last quarter. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of Citigroup during the 4th quarter worth about $34,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Stock Up 2.8%

Shares of C traded up $2.6140 during midday trading on Friday, hitting $95.2040. The company had a trading volume of 20,110,841 shares, compared to its average volume of 14,361,365. The company's 50-day simple moving average is $89.42 and its 200-day simple moving average is $78.31. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $175.26 billion, a P/E ratio of 14.06, a P/E/G ratio of 0.82 and a beta of 1.38. Citigroup Inc. has a 1 year low of $55.51 and a 1 year high of $96.90.

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 during 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 business's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect 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. Stockholders of record on Monday, August 4th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, August 4th. This is a boost from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio (DPR) is 35.45%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Truist Financial raised their price objective on Citigroup from $93.00 to $99.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Piper Sandler raised their target price on Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Cowen began coverage on Citigroup in a report on Wednesday, May 14th. They set a "hold" rating for the company. Dbs Bank upgraded Citigroup from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Finally, Bank of America raised their target price on Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $96.54.

Insider Activity

In other 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 value of $271,200.00. Following the completion of the transaction, the director owned 2,140 shares in the company, valued at approximately $193,456. This trade represents a 58.37% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.08% of the company's stock.

About Citigroup

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.