Czech National Bank Purchases 25,399 Shares of Citigroup Inc. $C

Key Points

• The Czech National Bank increased its stake in Citigroup Inc. by 5.9%, purchasing an additional 25,399 shares in the second quarter, bringing its total holdings to 456,540 shares valued at approximately $38.86 million.
• Analysts have recently upgraded Citigroup's stock ratings, with Wells Fargo raising the target price from $110 to $115 and a consensus rating of Moderate Buy with a target price of $96.96.
• Citigroup has announced a recent increase in its quarterly dividend from $0.56 to $0.60 per share, reflecting a yield of 2.4% and a payout ratio of 35.45%.

Czech National Bank lifted its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 5.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 456,540 shares of the company's stock after purchasing an additional 25,399 shares during the quarter. Czech National Bank's holdings in Citigroup were worth $38,861,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in shares of Citigroup by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company's stock valued at $2,917,794,000 after purchasing an additional 2,539,769 shares in the last quarter. Northern Trust Corp boosted its position in shares of Citigroup by 1.0% during the first quarter. Northern Trust Corp now owns 20,427,563 shares of the company's stock valued at $1,450,153,000 after purchasing an additional 195,013 shares in the last quarter. Invesco Ltd. boosted its position in shares of Citigroup by 3.6% during the first quarter. Invesco Ltd. now owns 16,839,915 shares of the company's stock valued at $1,195,466,000 after purchasing an additional 592,820 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Citigroup by 179.5% during the first quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock valued at $1,031,790,000 after purchasing an additional 9,334,038 shares in the last quarter. Finally, Amundi boosted its position in shares of Citigroup by 78.4% during the first quarter. Amundi now owns 13,713,517 shares of the company's stock valued at $973,523,000 after purchasing an additional 6,026,268 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

C has been the topic of several analyst reports. Wells Fargo & Company boosted their target price on Citigroup from $110.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Barclays boosted their target price on Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. The Goldman Sachs Group boosted their target price on Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Truist Financial boosted their target price on Citigroup from $99.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Finally, Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Citigroup currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.96.

Citigroup Stock Up 0.5%

C stock opened at $99.89 on Tuesday. Citigroup Inc. has a 1-year low of $55.51 and a 1-year high of $100.17. The business has a fifty day moving average price of $93.88 and a 200-day moving average price of $80.02. 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 stock has a market capitalization of $183.89 billion, a P/E ratio of 14.75, a P/E/G ratio of 0.85 and a beta of 1.41.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings results 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. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The firm had revenue of $21.67 billion during the quarter, compared to analysts' expectations of $20.75 billion. During the same quarter in the previous year, the business earned $1.52 earnings per share. The company's revenue was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. Equities analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 4th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.4%. This is a boost 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%.

Insider Buying and Selling

In related news, Director Peter B. Henry sold 3,000 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the sale, the director owned 2,140 shares in the company, valued at approximately $193,456. This represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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.

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