Ethic Inc. Lowers Holdings in Citigroup Inc. $C

Key Points

• Ethic Inc. reduced its holdings in Citigroup Inc. by 2.8% during Q1, owning 120,865 shares worth approximately $8.53 million after selling 3,480 shares.
• Citigroup's recent quarterly report showed earnings per share of $1.96, exceeding analysts' expectations, with a year-over-year revenue increase of 8.2%.
• The company announced a quarterly dividend increase to $0.60 per share, providing a yield of 2.6% with a payout ratio of 35.45%.

Ethic Inc. decreased its position in Citigroup Inc. (NYSE:C - Free Report) by 2.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 120,865 shares of the company's stock after selling 3,480 shares during the quarter. Ethic Inc.'s holdings in Citigroup were worth $8,526,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Orion Capital Management LLC bought a new position in shares of Citigroup in the fourth quarter worth about $28,000. MorganRosel Wealth Management LLC bought a new position in shares of Citigroup in the first quarter worth about $28,000. American National Bank & Trust bought a new position in shares of Citigroup in the first quarter worth about $29,000. Accent Capital Management LLC raised its stake in shares of Citigroup by 106.0% in the first quarter. Accent Capital Management LLC now owns 412 shares of the company's stock worth $29,000 after buying an additional 212 shares during the period. Finally, Mascagni Wealth Management Inc. bought a new position in shares of Citigroup in the fourth quarter worth about $34,000. Institutional investors own 71.72% of the company's stock.

Citigroup Stock Down 0.6%

Shares of C traded down $0.5720 during trading hours on Tuesday, hitting $93.6480. The company had a trading volume of 11,502,259 shares, compared to its average volume of 15,775,267. The company has a market capitalization 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. 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 one year low of $55.51 and a one year high of $96.90. The company's fifty day moving average price is $88.15 and its two-hundred day moving average price is $77.90.

Citigroup (NYSE:C - Get Free Report) last released its quarterly 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. 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 analyst estimates of $20.75 billion. During the same period in the previous year, the company posted $1.52 EPS. The business's revenue for the quarter 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 forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors 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 annualized dividend and a yield of 2.6%. This is an increase from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio is currently 35.45%.

Analyst Ratings Changes

Several research analysts have recently commented on C shares. Dbs Bank raised Citigroup from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Morgan Stanley raised their price objective on Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods reiterated a "buy" rating on shares of Citigroup in a research report on Wednesday, July 16th. Truist Financial increased their target price on Citigroup from $93.00 to $99.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, TD Cowen increased 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. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $96.54.

Insider Transactions at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the company's stock in a transaction dated Wednesday, July 16th. The stock was 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 of the company's stock, valued at $193,456. This represents a 58.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.08% of the stock is owned by corporate insiders.

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.