Korea Investment CORP Has $172.74 Million Holdings in Citigroup Inc. $C

Key Points

• Korea Investment CORP has reduced its holdings in Citigroup Inc. by 1.0%, selling 25,539 shares, and now owns approximately 2.43 million shares valued at $172.7 million.
• Citigroup recently reported an earnings per share (EPS) of $1.96 for the quarter, exceeding estimates, and its revenue increased 8.2% year-over-year, totaling $21.67 billion.
• The company announced an increase in its quarterly dividend to $0.60 per share, reflecting a yield of 2.6%, with the upcoming payment scheduled for August 22nd.

Korea Investment CORP lessened its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,433,266 shares of the company's stock after selling 25,539 shares during the quarter. Korea Investment CORP owned approximately 0.13% of Citigroup worth $172,738,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its position in Citigroup by 2.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company's stock worth $2,714,359,000 after buying an additional 815,003 shares during the last quarter. Northern Trust Corp grew its position in shares of Citigroup by 1.0% in the first quarter. Northern Trust Corp now owns 20,427,563 shares of the company's stock valued at $1,450,153,000 after purchasing an additional 195,013 shares during the last quarter. Invesco Ltd. grew its position in shares of Citigroup by 3.6% in the first quarter. Invesco Ltd. now owns 16,839,915 shares of the company's stock valued at $1,195,466,000 after purchasing an additional 592,820 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Citigroup by 179.5% in the first quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock valued at $1,031,790,000 after purchasing an additional 9,334,038 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of Citigroup by 0.3% in the fourth quarter. Nuveen Asset Management LLC now owns 13,454,775 shares of the company's stock valued at $947,082,000 after purchasing an additional 46,646 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.

Insider Transactions at Citigroup

In other Citigroup 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 value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Price Performance

NYSE:C traded down $0.6350 during mid-day trading on Thursday, reaching $92.5350. The stock had a trading volume of 17,633,063 shares, compared to its average volume of 15,728,550. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $96.90. The stock has a market capitalization of $170.35 billion, a PE ratio of 13.67, a P/E/G ratio of 0.81 and a beta of 1.38. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a 50-day simple moving average of $88.75 and a two-hundred day simple moving average of $78.11.

Citigroup (NYSE:C - Get Free Report) last issued its 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 firm had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. During the same quarter last year, the business posted $1.52 EPS. The company's revenue was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be given a $0.60 dividend. This is a boost from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, August 4th. Citigroup's dividend payout ratio (DPR) is presently 35.45%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on C. UBS Group reaffirmed a "neutral" rating and issued a $89.00 target price on shares of Citigroup in a research report on Tuesday, July 15th. Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. The Goldman Sachs Group upped their target price on Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Wells Fargo & Company upped their target price on Citigroup from $110.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Finally, Bank of America upped their target price on Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $96.54.

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.