Ilmarinen Mutual Pension Insurance Co Reduces Stock Position in Citigroup Inc. $C

Key Points

• Ilmarinen Mutual Pension Insurance Co reduced its stake in Citigroup Inc. by 23.3%, now owning 181,000 shares valued at approximately $12.85 million.
• Citigroup reported earnings per share (EPS) of $1.96, exceeding analyst estimates, and its revenue was $21.67 billion, up 8.2% from the previous year.
• The company recently announced a quarterly dividend increase to $0.60, raising its annualized dividend yield to 2.5%.

Ilmarinen Mutual Pension Insurance Co lowered its stake in Citigroup Inc. (NYSE:C - Free Report) by 23.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 181,000 shares of the company's stock after selling 55,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Citigroup were worth $12,849,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Orion Capital Management LLC acquired a new position in Citigroup in the fourth quarter valued at about $28,000. MorganRosel Wealth Management LLC acquired a new position in Citigroup in the first quarter valued at about $28,000. Accent Capital Management LLC lifted its position in Citigroup by 106.0% in the first quarter. Accent Capital Management LLC now owns 412 shares of the company's stock valued at $29,000 after buying an additional 212 shares during the last quarter. American National Bank & Trust purchased a new stake in Citigroup during the first quarter worth about $29,000. Finally, Truvestments Capital LLC increased its stake in Citigroup by 131.6% during the first quarter. Truvestments Capital LLC now owns 433 shares of the company's stock worth $31,000 after purchasing an additional 246 shares during the period. Institutional investors and hedge funds own 71.72% of the company's stock.

Analyst Upgrades and Downgrades

C has been the topic of a number of recent research reports. Oppenheimer boosted their price target on shares of Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Dbs Bank upgraded shares of Citigroup from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Bank of America boosted their price target on shares of Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Truist Financial boosted their price target on shares of Citigroup from $99.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Finally, UBS Group reiterated a "neutral" rating and set a $89.00 price target on shares of Citigroup in a research note on Tuesday, July 15th. 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, the stock has a consensus rating of "Moderate Buy" and an average target price of $96.96.

Insider Buying and Selling at Citigroup

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. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Price Performance

Shares of C traded up $0.69 during trading hours on Friday, reaching $99.51. The company had a trading volume of 9,502,253 shares, compared to its average volume of 12,405,087. The firm has a 50 day simple moving average of $93.63 and a 200-day simple moving average of $79.86. 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 company has a market capitalization of $183.19 billion, a price-to-earnings ratio of 14.70, a PEG 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 quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, beating 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 business had revenue of $21.67 billion during the quarter, compared to analysts' expectations of $20.75 billion. During the same quarter last year, the business posted $1.52 earnings per share. The business's revenue for the quarter was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. Research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were given a $0.60 dividend. This is an increase from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, August 4th. Citigroup's dividend payout ratio (DPR) is 35.45%.

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.