Citigroup Inc. (NYSE:C) Shares Acquired by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Citigroup Inc. by 3.6%, owning approximately 16.8 million shares worth $1.2 billion at the end of the most recent quarter.
• Citigroup's recent quarterly earnings revealed an earnings per share of $1.96, exceeding analysts' estimates of $1.61, with a revenue of $21.67 billion.
• The company declared a quarterly dividend of $0.60 per share, marking a positive change from the previous dividend of $0.56, with a yield of 2.6%.

Invesco Ltd. grew its position in Citigroup Inc. (NYSE:C - Free Report) by 3.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,839,915 shares of the company's stock after acquiring an additional 592,820 shares during the quarter. Invesco Ltd. owned about 0.89% of Citigroup worth $1,195,466,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Private Advisory Group LLC boosted its holdings in shares of Citigroup by 20.8% in the first quarter. Private Advisory Group LLC now owns 69,581 shares of the company's stock valued at $4,940,000 after acquiring an additional 11,978 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Citigroup by 109.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company's stock worth $88,458,000 after purchasing an additional 649,807 shares during the period. Brighton Jones LLC lifted its holdings in shares of Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after purchasing an additional 12,499 shares during the period. Onyx Bridge Wealth Group LLC acquired a new stake in shares of Citigroup during the first quarter worth $214,000. Finally, Pinnacle Financial Partners Inc lifted its holdings in shares of Citigroup by 495.1% during the first quarter. Pinnacle Financial Partners Inc now owns 18,554 shares of the company's stock worth $1,317,000 after purchasing an additional 15,436 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction that occurred on 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 sale, the director directly owned 2,140 shares in the company, valued at approximately $193,456. The trade was a 58.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.08% of the stock is owned by corporate insiders.

Citigroup Stock Up 0.2%

Citigroup stock traded up $0.15 during midday trading on Wednesday, hitting $95.89. 1,615,364 shares of the company were exchanged, compared to its average volume of 15,790,749. The company's fifty day moving average price is $86.78 and its 200-day moving average price is $77.55. The company has a market cap of $176.52 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 0.79 and a beta of 1.38. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $96.90.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.61 by $0.35. The firm had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. Citigroup's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 EPS. On average, research analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be issued a dividend of $0.60 per share. The ex-dividend date is 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 presently 35.45%.

Analyst Ratings Changes

A number of research firms recently commented on C. Wells Fargo & Company lifted their price objective on Citigroup from $110.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Truist Financial lifted 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 lifted their price objective on Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Keefe, Bruyette & Woods reiterated a "buy" rating on shares of Citigroup in a research report on Wednesday, July 16th. Finally, Cowen assumed coverage on Citigroup in a research note on Wednesday, May 14th. They issued a "hold" rating on the stock. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $96.54.

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.