Gabelli Funds LLC Has $22.57 Million Stock Position in Citigroup Inc. $C

Key Points

• Gabelli Funds LLC reduced its stake in Citigroup Inc. by 10.7%, selling 38,055 shares which brought their total holdings to 317,855 shares valued at approximately $22,565,000.
• Citigroup recently reported earnings of $1.96 per share for the last quarter, surpassing analyst expectations and showing an 8.2% increase in revenue year-over-year.
• The company declared an increased quarterly dividend of $0.60 per share, representing a 2.5% yield with a payout ratio of 35.45%.

Gabelli Funds LLC lowered its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 10.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 317,855 shares of the company's stock after selling 38,055 shares during the period. Gabelli Funds LLC's holdings in Citigroup were worth $22,565,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its holdings in Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after purchasing an additional 12,499 shares during the period. Beacon Pointe Advisors LLC lifted its holdings in Citigroup by 10.9% in the fourth quarter. Beacon Pointe Advisors LLC now owns 72,466 shares of the company's stock worth $5,101,000 after purchasing an additional 7,138 shares during the period. Bellwether Advisors LLC acquired a new stake in Citigroup in the fourth quarter worth about $72,000. The Manufacturers Life Insurance Company lifted its holdings in Citigroup by 16.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 2,454,296 shares of the company's stock worth $172,758,000 after purchasing an additional 350,508 shares during the period. Finally, Lido Advisors LLC lifted its holdings in Citigroup by 432.9% in the fourth quarter. Lido Advisors LLC now owns 137,801 shares of the company's stock worth $9,700,000 after purchasing an additional 111,943 shares during the period. Institutional investors own 71.72% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Cowen assumed coverage on shares of Citigroup in a report on Wednesday, May 14th. They issued a "hold" rating for the company. TD Cowen upped their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a report on Wednesday, July 16th. Truist Financial upped their price objective on shares of Citigroup from $93.00 to $99.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. The Goldman Sachs Group upped their price target on shares of Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, Barclays upped their price target on shares of Citigroup from $95.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Citigroup has an average rating of "Moderate Buy" and an average price target of $96.54.

Citigroup Trading Down 0.3%

C traded down $0.28 during midday trading on Friday, reaching $96.54. 8,361,286 shares of the company were exchanged, compared to its average volume of 13,725,170. 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 Inc. has a one year low of $55.51 and a one year high of $97.49. The stock has a market capitalization of $177.72 billion, a P/E ratio of 14.26, a PEG ratio of 0.83 and a beta of 1.38. The stock's 50-day simple moving average is $91.23 and its 200 day simple moving average is $78.82.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data 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 return on equity of 7.29% and a net margin of 8.44%.The business 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 business posted $1.52 EPS. Citigroup'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 forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were issued a dividend of $0.60 per share. This is a boost from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date was Monday, August 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.5%. Citigroup's dividend payout ratio (DPR) is presently 35.45%.

Insider Buying and Selling at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of Citigroup 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 owned 2,140 shares in the company, valued at $193,456. The trade was a 58.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.08% of the stock is owned by company insiders.

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.