2,951 Shares in Citigroup Inc. $C Bought by Mill Creek Capital Advisors LLC

Key Points

• Mill Creek Capital Advisors LLC invested approximately $210,000 in Citigroup by acquiring 2,951 shares during the 1st quarter.
• Citigroup's quarterly dividend was increased to $0.60 per share, resulting in a 2.6% yield, and will be paid on August 22nd, 2023.
• Analysts have set a consensus target price of $96.54 for Citigroup, with ratings indicating a shift towards a "Moderate Buy" status.

Mill Creek Capital Advisors LLC purchased a new stake in Citigroup Inc. (NYSE:C - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund purchased 2,951 shares of the company's stock, valued at approximately $210,000.

Other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of 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 valued at $2,714,359,000 after purchasing an additional 815,003 shares during the last quarter. Northern Trust Corp increased its position in Citigroup by 13.9% in the fourth quarter. Northern Trust Corp now owns 20,232,550 shares of the company's stock worth $1,424,169,000 after buying an additional 2,467,958 shares during the period. Invesco Ltd. increased its position in Citigroup by 3.6% in the first quarter. Invesco Ltd. now owns 16,839,915 shares of the company's stock worth $1,195,466,000 after buying an additional 592,820 shares during the period. Goldman Sachs Group Inc. lifted its stake in 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 buying an additional 9,334,038 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Citigroup by 0.3% during the fourth quarter. Nuveen Asset Management LLC now owns 13,454,775 shares of the company's stock valued at $947,082,000 after acquiring an additional 46,646 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Citigroup Trading Down 0.7%

C stock traded down $0.6350 during mid-day trading on Thursday, reaching $92.5350. 17,633,063 shares of the stock traded hands, compared to its average volume of 15,728,550. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $96.90. The company has a market cap of $170.35 billion, a P/E ratio of 13.67, a P/E/G ratio of 0.81 and a beta of 1.38. The stock's fifty day moving average is $88.75 and its 200-day moving average is $78.11.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.61 by $0.35. The business had revenue of $21.67 billion during the quarter, compared to analysts' expectations of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.Citigroup's revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. This is a positive change from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Monday, August 4th. Citigroup's payout ratio is currently 35.45%.

Insider Activity at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the business's 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 transaction, the director directly owned 2,140 shares of the company's stock, valued at approximately $193,456. The trade was a 58.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

C has been the subject of several recent research reports. Bank of America upped their price target on shares of Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. The Goldman Sachs Group upped their price objective on shares of Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Morgan Stanley boosted their price target on shares of Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, TD Cowen raised their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a research note on Wednesday, July 16th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $96.54.

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.