Citigroup Inc. (NYSE:C) Shares Sold by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. reduced its holdings in Citigroup by 9.8% in the first quarter, selling 44,260 shares and retaining 405,609 shares valued at approximately $28.8 million.
• Citigroup recently announced a quarterly dividend of $0.60 per share, indicating a positive change from the previous dividend and reflecting a 2.6% yield.
• After its latest earnings report, Citigroup reported $1.96 EPS, exceeding analyst expectations, and its stock received various target price increases, indicating overall positive sentiment among analysts.

Federated Hermes Inc. lessened its holdings in Citigroup Inc. (NYSE:C - Free Report) by 9.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 405,609 shares of the company's stock after selling 44,260 shares during the period. Federated Hermes Inc.'s holdings in Citigroup were worth $28,794,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its position in shares of Citigroup by 2.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company's stock valued at $2,714,359,000 after purchasing an additional 815,003 shares in the last quarter. FMR LLC boosted its stake in Citigroup by 29.7% during the fourth quarter. FMR LLC now owns 34,362,176 shares of the company's stock valued at $2,418,754,000 after buying an additional 7,863,718 shares during the last quarter. Capital World Investors grew its holdings in Citigroup by 455.2% during the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company's stock valued at $2,206,908,000 after buying an additional 25,705,141 shares in the last quarter. Northern Trust Corp increased its stake in Citigroup by 13.9% in the 4th quarter. Northern Trust Corp now owns 20,232,550 shares of the company's stock worth $1,424,169,000 after acquiring an additional 2,467,958 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Citigroup by 13.8% during the 4th quarter. Invesco Ltd. now owns 16,247,095 shares of the company's stock worth $1,143,633,000 after acquiring an additional 1,970,300 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on C shares. Piper Sandler boosted their price target on shares of Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods restated a "buy" rating on shares of Citigroup in a research report on Wednesday, July 16th. Evercore ISI set a $77.00 price target on Citigroup in a research report on Monday, July 7th. Finally, The Goldman Sachs Group raised their price objective on Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $96.54.

Citigroup Trading Down 2.0%

Shares of NYSE:C traded down $1.86 during trading on Friday, reaching $91.84. 17,720,586 shares of the company were exchanged, compared to its average volume of 15,836,717. The business's fifty day simple moving average is $84.36 and its 200-day simple moving average is $76.98. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $96.90. The firm has a market capitalization of $171.53 billion, a PE ratio of 13.57, a P/E/G ratio of 0.79 and a beta of 1.38.

Citigroup (NYSE:C - Get Free Report) last issued its 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. The business had revenue of $21.67 billion during the quarter, compared to analysts' expectations of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The business'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 EPS. On average, research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be given a dividend of $0.60 per share. This is a boost from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Monday, August 4th. This represents a $2.40 annualized dividend and a yield of 2.6%. Citigroup's payout ratio is 33.09%.

Insider Transactions at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the completion of the transaction, the director directly owned 2,140 shares in the company, valued at approximately $193,456. The trade was a 58.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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.