DnB Asset Management AS Grows Stock Position in Citigroup Inc. $C

Key Points

• DnB Asset Management AS raised its holdings in Citigroup Inc. by 145.3% in Q1, acquiring an additional 866,097 shares and holding a total of 1,462,160 shares valued at approximately $103.80 million.
• Citigroup reported $1.96 earnings per share for the last quarter, exceeding analysts' expectations of $1.61, and its quarterly revenue increased by 8.2% year-over-year.
• The company declared a quarterly dividend of $0.60 per share, up from $0.56, reflecting a yield of 2.5% and a dividend payout ratio of 35.45%.

DnB Asset Management AS raised its holdings in Citigroup Inc. (NYSE:C - Free Report) by 145.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,462,160 shares of the company's stock after buying an additional 866,097 shares during the quarter. DnB Asset Management AS owned about 0.08% of Citigroup worth $103,799,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of C. Orion Capital Management LLC acquired a new position in shares of Citigroup in the fourth quarter valued at about $28,000. MorganRosel Wealth Management LLC acquired a new position in shares of Citigroup in the first quarter valued at about $28,000. American National Bank & Trust acquired a new position in shares of Citigroup in the first quarter valued at about $29,000. Accent Capital Management LLC increased its holdings in shares of Citigroup by 106.0% in the first quarter. Accent Capital Management LLC now owns 412 shares of the company's stock valued at $29,000 after purchasing an additional 212 shares during the period. Finally, Truvestments Capital LLC increased its holdings in shares of Citigroup by 131.6% in the first quarter. Truvestments Capital LLC now owns 433 shares of the company's stock valued at $31,000 after purchasing an additional 246 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

C has been the topic of a number of research reports. Piper Sandler increased their price objective on Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Bank of America raised their target price on Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Truist Financial raised 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. UBS Group reaffirmed a "neutral" rating and set a $89.00 target price on shares of Citigroup in a report on Tuesday, July 15th. Finally, The Goldman Sachs Group raised 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. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Citigroup has a consensus rating of "Moderate Buy" and an average target price of $96.96.

Insider Buying and Selling

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the firm'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 sale, the director directly owned 2,140 shares of the company's stock, valued at approximately $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.08% of the company's stock.

Citigroup Price Performance

C traded up $0.48 during trading on Monday, hitting $95.88. The company's stock had a trading volume of 11,394,371 shares, compared to its average volume of 15,580,999. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $97.98. The business's fifty day simple moving average is $92.56 and its 200 day simple moving average is $79.22. The firm has a market capitalization of $176.50 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 0.82 and a beta of 1.41.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating 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 company had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same period last year, the company earned $1.52 earnings per share. Citigroup's quarterly revenue was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. On average, equities research analysts forecast 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 was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, August 4th. This is an increase from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a yield of 2.5%. Citigroup's dividend payout ratio is 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.