Citigroup Inc. $C Stake Lifted by Federation des caisses Desjardins du Quebec

Key Points

• The Federation des caisses Desjardins du Quebec increased its stake in Citigroup Inc. by 44.3%, acquiring an additional 264,470 shares, bringing its total to 861,944 shares valued at approximately $61.2 million.
• Citigroup announced a quarterly dividend increase to $0.60 per share, representing a 2.5% yield and up from the previous $0.56 dividend.
• Multiple large investors, including Goldman Sachs and Morgan Stanley, have recently increased their holdings in Citigroup, with analysts setting new price targets ranging from $100 to $107 per share.

Federation des caisses Desjardins du Quebec boosted its position in Citigroup Inc. (NYSE:C - Free Report) by 44.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 861,944 shares of the company's stock after buying an additional 264,470 shares during the period. Federation des caisses Desjardins du Quebec's holdings in Citigroup were worth $61,213,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Private Advisory Group LLC grew its position in Citigroup by 20.8% in the 1st quarter. Private Advisory Group LLC now owns 69,581 shares of the company's stock worth $4,940,000 after purchasing an additional 11,978 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Citigroup by 109.0% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company's stock worth $88,458,000 after purchasing an additional 649,807 shares in the last quarter. Brighton Jones LLC increased its holdings in shares of Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after buying an additional 12,499 shares during the last quarter. Onyx Bridge Wealth Group LLC bought a new position in shares of Citigroup during the 1st quarter valued at $214,000. Finally, Pinnacle Financial Partners Inc grew its holdings in shares of Citigroup by 495.1% during the 1st quarter. Pinnacle Financial Partners Inc now owns 18,554 shares of the company's stock valued at $1,317,000 after purchasing an additional 15,436 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.

Citigroup Price Performance

NYSE C traded down $1.64 on Friday, hitting $95.44. The company had a trading volume of 17,018,341 shares, compared to its average volume of 12,488,161. The company has a market capitalization of $175.69 billion, a PE ratio of 14.10, a PEG ratio of 0.84 and a beta of 1.41. The company's fifty day moving average price is $92.56 and its 200-day moving average price is $79.26. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $97.98.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.35. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The firm had revenue of $21.67 billion for the quarter, compared to analysts' expectations of $20.75 billion. During the same quarter in the previous year, the company posted $1.52 EPS. The company's revenue was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. As a group, analysts predict 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. Shareholders of record on Monday, August 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.5%. This is an increase from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Monday, August 4th. Citigroup's dividend payout ratio is 35.45%.

Insider Buying and Selling

In other news, Director Peter B. Henry sold 3,000 shares of the firm's stock in a transaction 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 completion of the transaction, the director owned 2,140 shares in the company, valued at $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

C has been the topic of a number of research reports. 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 reaffirmed a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. Dbs Bank upgraded shares of Citigroup from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Wells Fargo & Company increased their price objective on shares of Citigroup from $110.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Finally, Piper Sandler increased their target price on shares of Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.96.

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.