Citigroup Inc. $C Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly reduced its holdings in Citigroup by 86.9%, selling 149,941 shares and now owning 22,572 shares worth $1,602,000.
• Research analysts have a consensus rating of "Moderate Buy" for Citigroup, with an average price target of $96.54, following several recent upgrades in target prices.
• Citigroup declared an increased quarterly dividend of $0.60 per share, up from the previous $0.56, reflecting a positive change in its shareholder returns.

Connor Clark & Lunn Investment Management Ltd. reduced its stake in Citigroup Inc. (NYSE:C - Free Report) by 86.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 22,572 shares of the company's stock after selling 149,941 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Citigroup were worth $1,602,000 at the end of the most recent reporting period.

Other large investors have also recently 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 valued at $84,000 after purchasing an additional 119 shares during the period. Continuum Advisory LLC raised its position in Citigroup by 1.9% during the fourth 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 last quarter. Solitude Financial Services raised its position in Citigroup by 0.9% during the first quarter. Solitude Financial Services now owns 16,496 shares of the company's stock worth $1,171,000 after acquiring an additional 140 shares during the last quarter. Insight Inv LLC raised its position in Citigroup by 0.5% during the first quarter. Insight Inv LLC now owns 27,268 shares of the company's stock worth $1,936,000 after acquiring an additional 146 shares during the last quarter. Finally, Trust Co. of Vermont raised its position in Citigroup by 14.3% during the first quarter. Trust Co. of Vermont now owns 1,196 shares of the company's stock worth $85,000 after acquiring an additional 150 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Trading Down 0.7%

Citigroup stock traded down $0.6350 during trading on Thursday, reaching $92.5350. The company had a trading volume of 17,633,063 shares, compared to its average volume of 14,261,821. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $96.90. The stock's 50 day moving average price is $89.04 and its two-hundred day moving average price is $78.20. The firm has a market capitalization of $170.35 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 0.80 and a beta of 1.38. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99.

Citigroup (NYSE:C - Get Free Report) last released its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $20.75 billion. During the same period in the previous year, the firm earned $1.52 earnings per share. Citigroup's revenue was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be issued a $0.60 dividend. The ex-dividend date is Monday, August 4th. This is a positive change from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a yield of 2.6%. Citigroup's payout ratio is presently 35.45%.

Insider Transactions at Citigroup

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. TD Cowen lifted their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday, July 16th. Oppenheimer lifted their target price on shares of Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Piper Sandler lifted their target price on shares of Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Bank of America lifted their target price 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. Finally, Morgan Stanley lifted their target price on shares of Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. 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 has an average rating of "Moderate Buy" and an average price target of $96.54.

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.