Citigroup Inc. $C is Brandywine Global Investment Management LLC's 7th Largest Position

Key Points

• Brandywine Global Investment Management LLC reduced its stake in Citigroup by 20%, owning approximately 3.27 million shares post-sale, which makes up 1.7% of their total holdings.
• Citigroup reported $1.96 earnings per share for the last quarter, exceeding estimates significantly, alongside a revenue of $21.67 billion, indicating an 8.2% increase compared to the previous year.
• The company announced an increase in its quarterly dividend from $0.56 to $0.60, reflecting a 2.5% annual yield and a 35.45% payout ratio.

Brandywine Global Investment Management LLC cut its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 20.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,270,690 shares of the company's stock after selling 818,554 shares during the quarter. Citigroup comprises 1.7% of Brandywine Global Investment Management LLC's portfolio, making the stock its 7th biggest holding. Brandywine Global Investment Management LLC owned 0.17% of Citigroup worth $232,186,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. True Wealth Design LLC lifted its stake in shares of Citigroup by 11.1% in the fourth quarter. True Wealth Design LLC now owns 1,195 shares of the company's stock worth $84,000 after buying an additional 119 shares during the last quarter. Continuum Advisory LLC raised its holdings in Citigroup by 1.9% in the 4th quarter. Continuum Advisory LLC now owns 6,519 shares of the company's stock worth $459,000 after acquiring an additional 120 shares during the period. Solitude Financial Services boosted its holdings in Citigroup by 0.9% during the first quarter. Solitude Financial Services now owns 16,496 shares of the company's stock valued at $1,171,000 after acquiring an additional 140 shares during the period. Insight Inv LLC grew its position in shares of Citigroup by 0.5% in the first quarter. Insight Inv LLC now owns 27,268 shares of the company's stock valued at $1,936,000 after purchasing an additional 146 shares during the last quarter. Finally, Trust Co. of Vermont grew its position in shares of Citigroup by 14.3% in the first quarter. Trust Co. of Vermont now owns 1,196 shares of the company's stock valued at $85,000 after purchasing an additional 150 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on C shares. Oppenheimer increased their price target on shares of Citigroup from $123.00 to $124.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Evercore ISI set a $77.00 price objective on shares of Citigroup in a research report on Monday, July 7th. TD Cowen lifted their target price on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday, July 16th. Bank of America boosted their price target on Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Finally, Cowen initiated coverage on Citigroup in a research report on Wednesday, May 14th. They issued a "hold" rating for the company. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $96.54.

Insider Activity

In other 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 value of $271,200.00. Following the sale, the director directly owned 2,140 shares of the company's stock, valued at approximately $193,456. This represents a 58.37% decrease in their ownership of the stock. 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.

Citigroup Price Performance

Shares of NYSE C traded down $0.5720 during mid-day trading on Tuesday, hitting $93.6480. 10,829,194 shares of the stock traded hands, compared to its average volume of 15,753,777. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $96.90. The firm has a 50 day simple moving average of $88.15 and a two-hundred day simple moving average of $77.90. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $172.40 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 0.81 and a beta of 1.38.

Citigroup (NYSE:C - Get Free Report) last announced its 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 the consensus estimate 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 period in the previous year, the business earned $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from Citigroup's previous quarterly dividend of $0.56. Citigroup's payout ratio 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.