Financiere des Professionnels Fonds d investissement inc. Acquires New Shares in Citigroup Inc. $C

Key Points

• Financiere des Professionnels Fonds d investissement inc. has acquired a new stake in Citigroup Inc., purchasing 22,629 shares valued at approximately $1.93 million.
• Citigroup reported earnings of $1.96 per share for the last quarter, exceeding analyst expectations of $1.61, with revenue hitting $21.67 billion.
• The company recently increased its quarterly dividend to $0.60, reflecting a positive change from the previous $0.56, and has set an annual dividend yield of 2.4%.

Financiere des Professionnels Fonds d investissement inc. purchased a new position in Citigroup Inc. (NYSE:C - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,629 shares of the company's stock, valued at approximately $1,926,000.

A number of other hedge funds have also modified their holdings of the company. Continuum Advisory LLC increased its stake in Citigroup by 1.9% during the fourth quarter. Continuum Advisory LLC now owns 6,519 shares of the company's stock worth $459,000 after purchasing an additional 120 shares during the period. RDA Financial Network increased its stake in shares of Citigroup by 3.4% during the second quarter. RDA Financial Network now owns 3,940 shares of the company's stock worth $335,000 after buying an additional 130 shares during the period. Solitude Financial Services increased its stake in shares of Citigroup by 0.9% during the first quarter. Solitude Financial Services now owns 16,496 shares of the company's stock worth $1,171,000 after buying an additional 140 shares during the period. Dorsey & Whitney Trust CO LLC increased its stake in shares of Citigroup by 2.1% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 6,902 shares of the company's stock worth $490,000 after buying an additional 142 shares during the period. Finally, Insight Inv LLC boosted its holdings in Citigroup by 0.5% in the first quarter. Insight Inv LLC now owns 27,268 shares of the company's stock valued at $1,936,000 after purchasing an additional 146 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Price Performance

Citigroup stock traded up $0.23 during midday trading on Friday, reaching $102.64. 24,743,060 shares of the company were exchanged, compared to its average volume of 12,162,818. The company has a market capitalization of $188.95 billion, a price-to-earnings ratio of 15.16, a P/E/G ratio of 0.88 and a beta of 1.41. The firm's 50-day simple moving average is $95.12 and its 200-day simple moving average is $80.75. Citigroup Inc. has a 1 year low of $55.51 and a 1 year high of $103.13. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (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 firm 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 EPS. The firm's quarterly revenue was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. On average, analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 4th were 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 was Monday, August 4th. This represents a $2.40 annualized dividend and a yield of 2.3%. Citigroup's dividend payout ratio is presently 35.45%.

Insider Buying and Selling

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 transaction, the director directly owned 2,140 shares of the company's stock, valued at approximately $193,456. The trade was a 58.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. 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. Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Wells Fargo & Company increased their price target on Citigroup from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. The Goldman Sachs Group increased their price target on Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Citigroup has an average rating of "Moderate Buy" and an average target price of $97.68.

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.