Corebridge Financial Inc. Sells 16,013 Shares of Citigroup Inc. $C

Key Points

• Corebridge Financial Inc. reduced its holdings in Citigroup by 3.7%, owning 418,659 shares worth approximately $29.72 million after selling 16,013 shares in the 1st quarter.
• Several major institutional investors, including Price T Rowe Associates Inc. and Goldman Sachs Group Inc., significantly increased their stakes in Citigroup during the same period, reflecting strong investor interest.
• Citigroup announced a quarterly dividend increase from $0.56 to $0.60, resulting in a 2.5% yield, paid to shareholders on August 22nd.

Corebridge Financial Inc. decreased its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 418,659 shares of the company's stock after selling 16,013 shares during the quarter. Corebridge Financial Inc.'s holdings in Citigroup were worth $29,721,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in C. True Wealth Design LLC increased its stake in shares of Citigroup by 11.1% in the 4th quarter. True Wealth Design LLC now owns 1,195 shares of the company's stock valued at $84,000 after acquiring an additional 119 shares in the last quarter. Continuum Advisory LLC boosted its holdings in Citigroup by 1.9% during 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 last quarter. Solitude Financial Services boosted its holdings in Citigroup by 0.9% during the 1st 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. Dorsey & Whitney Trust CO LLC boosted its holdings in Citigroup by 2.1% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 6,902 shares of the company's stock worth $490,000 after acquiring an additional 142 shares during the last quarter. Finally, Insight Inv LLC boosted its holdings in Citigroup by 0.5% during the 1st 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. Institutional investors own 71.72% of the company's stock.

Insider Buying and Selling

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

Citigroup Price Performance

Shares of C stock traded up $1.26 during trading on Wednesday, hitting $96.98. The company had a trading volume of 11,241,921 shares, compared to its average volume of 14,047,286. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. The stock's 50-day moving average is $90.50 and its two-hundred day moving average is $78.62. The stock has a market capitalization of $178.52 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 0.83 and a beta of 1.38. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $97.45.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.35. The company had revenue of $21.67 billion for the quarter, compared to analysts' expectations of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. Citigroup's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. As a group, analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 4th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.5%. This is a positive change from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date was Monday, August 4th. Citigroup's dividend payout ratio (DPR) is currently 35.45%.

Analysts Set New Price Targets

C has been the topic of a number of research analyst reports. Barclays boosted their price target on shares of Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Wells Fargo & Company upped their price objective on shares of Citigroup from $110.00 to $115.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Truist Financial increased their price target on shares of Citigroup from $93.00 to $99.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. TD Cowen increased their price target on shares of Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a report on Wednesday, July 16th. Finally, Oppenheimer increased their price target on shares of Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.