Evergreen Capital Management LLC Cuts Stock Position in Citigroup Inc. $C

Key Points

• Evergreen Capital Management LLC reduced its stake in Citigroup by 2.4%, selling 3,064 shares and now holding 122,921 shares valued at approximately $8.73 million.
• Citigroup's quarterly earnings report showed earnings per share of $1.96, surpassing estimates of $1.61, with revenues also exceeding expectations at $21.67 billion.
• Citigroup has increased its quarterly dividend from $0.56 to $0.60 per share, reflecting an annualized yield of 2.5%.

Evergreen Capital Management LLC lowered its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 2.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 122,921 shares of the company's stock after selling 3,064 shares during the period. Evergreen Capital Management LLC's holdings in Citigroup were worth $8,726,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of C. The Manufacturers Life Insurance Company boosted its holdings in shares of Citigroup by 8.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,669,719 shares of the company's stock valued at $189,523,000 after acquiring an additional 215,423 shares during the last quarter. Clough Capital Partners L P bought a new stake in shares of Citigroup during the first quarter valued at approximately $10,786,000. Canada Pension Plan Investment Board increased its position in Citigroup by 18.1% in the first quarter. Canada Pension Plan Investment Board now owns 2,940,542 shares of the company's stock worth $208,749,000 after purchasing an additional 451,561 shares during the last quarter. GKV Capital Management Co. Inc. increased its position in Citigroup by 1,807.0% during the first quarter. GKV Capital Management Co. Inc. now owns 19,070 shares of the company's stock valued at $1,354,000 after acquiring an additional 18,070 shares during the last quarter. Finally, WPG Advisers LLC bought a new position in Citigroup during the first quarter valued at $38,000. 71.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Peter B. Henry sold 3,000 shares of the business'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 transaction of $271,200.00. Following the completion of the sale, the director 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is currently owned by insiders.

Citigroup Trading Down 1.9%

NYSE:C traded down $1.84 on Tuesday, reaching $94.73. 15,122,896 shares of the company's stock were exchanged, compared to its average volume of 15,621,497. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $97.49. The firm has a market capitalization of $174.39 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 0.83 and a beta of 1.41. 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 business has a fifty day moving average of $91.57 and a 200-day moving average of $78.88.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The business 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 company posted $1.52 earnings per share. The business's revenue for the quarter was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. As a group, analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 4th were paid a dividend of $0.60 per share. The ex-dividend date was Monday, August 4th. This is a positive change 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 (DPR) is presently 35.45%.

Analyst Ratings Changes

A number of research firms recently weighed in on C. Piper Sandler upped their price objective on shares of Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Bank of America upped their price objective on shares of Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, June 26th. 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. UBS Group restated a "neutral" rating and issued a $89.00 price objective on shares of Citigroup in a research report on Tuesday, July 15th. Finally, Oppenheimer increased their target price on Citigroup from $123.00 to $124.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Citigroup presently has an average rating of "Moderate Buy" and an average target price of $96.54.

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.