Greenhaven Associates Inc. Has $1.38 Billion Stock Position in Citigroup Inc. $C

Key Points

• Greenhaven Associates Inc. owns a $1.38 billion position in Citigroup Inc., representing approximately 20.5% of its total holdings.
• Citigroup reported $1.96 EPS for the quarter, exceeding estimates, with a revenue of $21.67 billion up by 8.2% from the previous year.
• The firm recently announced an increased quarterly dividend of $0.60 per share, marking a positive change from its previous dividend and reflecting a 2.4% yield.

Greenhaven Associates Inc. decreased its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 2.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,175,563 shares of the company's stock after selling 490,280 shares during the period. Citigroup comprises approximately 20.5% of Greenhaven Associates Inc.'s holdings, making the stock its largest position. Greenhaven Associates Inc. owned about 0.87% of Citigroup worth $1,376,864,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Private Advisory Group LLC grew its position in shares of Citigroup by 20.8% during the 1st quarter. Private Advisory Group LLC now owns 69,581 shares of the company's stock valued at $4,940,000 after acquiring an additional 11,978 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings 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 buying an additional 649,807 shares during the period. Brighton Jones LLC boosted its holdings in 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 period. Onyx Bridge Wealth Group LLC bought a new position in Citigroup in the 1st quarter worth $214,000. Finally, Pinnacle Financial Partners Inc boosted its holdings in Citigroup by 495.1% in the 1st quarter. Pinnacle Financial Partners Inc now owns 18,554 shares of the company's stock worth $1,317,000 after buying an additional 15,436 shares during the period. Institutional investors own 71.72% of the company's stock.

Citigroup Stock Up 0.7%

Shares of NYSE C opened at $99.51 on Monday. The firm's 50-day moving average price is $93.63 and its 200-day moving average price is $79.88. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $183.19 billion, a price-to-earnings ratio of 14.70, a P/E/G ratio of 0.85 and a beta of 1.41. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $99.70.

Citigroup (NYSE:C - Get Free Report) last announced 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. The firm had revenue of $21.67 billion for the quarter, compared to analysts' expectations of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The business's revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm 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 was Monday, August 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.4%. This is a positive change from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio is currently 35.45%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on C shares. Oppenheimer upped their target price on shares of Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Morgan Stanley upped their target price on shares of Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. The Goldman Sachs Group upped their target price on shares of Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. TD Cowen upped their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a report on Wednesday, July 16th. Finally, Bank of America increased their price objective on shares of Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Citigroup presently has an average rating of "Moderate Buy" and a consensus price target of $96.96.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the sale, the director directly owned 2,140 shares in the company, valued at approximately $193,456. This represents a 58.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.08% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.