Graham Capital Management L.P. Purchases 217,454 Shares of Citigroup Inc. $C

Key Points

• Graham Capital Management L.P. increased its stake in Citigroup by 341.9%, owning 281,047 shares worth nearly $20 million, making Citigroup its 19th largest holding.
• Citigroup reported Q2 earnings of $1.96 per share, surpassing expectations and showing an 8.2% revenue growth year-over-year.
• The company has announced an increase in its quarterly dividend to $0.60 per share, which presents an annual yield of 2.5% and reflects a 35.45% dividend payout ratio.

Graham Capital Management L.P. boosted its holdings in Citigroup Inc. (NYSE:C - Free Report) by 341.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 281,047 shares of the company's stock after purchasing an additional 217,454 shares during the quarter. Citigroup makes up approximately 0.3% of Graham Capital Management L.P.'s holdings, making the stock its 19th biggest position. Graham Capital Management L.P.'s holdings in Citigroup were worth $19,952,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its position in Citigroup by 179.5% in the first quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock worth $1,031,790,000 after buying an additional 9,334,038 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Citigroup in the first quarter valued at approximately $578,100,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Citigroup by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company's stock worth $2,917,794,000 after acquiring an additional 2,539,769 shares during the last quarter. B. Metzler seel. Sohn & Co. AG boosted its stake in Citigroup by 2,230.8% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 2,630,308 shares of the company's stock worth $186,726,000 after buying an additional 2,517,459 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Citigroup by 7,899.8% in the 1st quarter. GAMMA Investing LLC now owns 2,430,414 shares of the company's stock valued at $172,535,000 after purchasing an additional 2,400,033 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the transaction, the director directly owned 2,140 shares of the company's stock, valued at $193,456. This represents a 58.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is owned by corporate insiders.

Citigroup Price Performance

Shares of C traded up $0.19 during mid-day trading on Wednesday, reaching $94.97. The company had a trading volume of 14,155,625 shares, compared to its average volume of 12,676,451. The company's 50 day simple moving average is $91.84 and its 200 day simple moving average is $78.99. The company has a market capitalization of $174.84 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 0.83 and a beta of 1.41. Citigroup Inc. has a 1-year low of $55.51 and a 1-year high of $97.49. 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 released its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) 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 business had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same quarter in the previous year, the business earned $1.52 earnings per share. 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. Analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from Citigroup's previous quarterly dividend of $0.56. Citigroup's payout ratio is currently 35.45%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Barclays upped their target price on Citigroup from $95.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Morgan Stanley increased their price objective on Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Truist Financial boosted their target price on shares of Citigroup from $99.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday. 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. Finally, Evercore ISI set a $77.00 target price on Citigroup in a report on Monday, July 7th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $96.96.

Citigroup Company 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.