Mirae Asset Global Investments Co. Ltd. Has $29.70 Million Stock Position in Citigroup Inc. $C

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Citigroup Inc. by 2.2%, bringing its total holdings to 348,948 shares valued at approximately $29.7 million.
• Several institutional investors, including Goldman Sachs and Amundi, significantly increased their stakes in Citigroup during the first quarter, reflecting a growing confidence in the stock.
• Citigroup recently declared a quarterly dividend of $0.60 per share, up from the previous $0.56, representing an annualized dividend yield of 2.5%.

Mirae Asset Global Investments Co. Ltd. raised its position in Citigroup Inc. (NYSE:C - Free Report) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 348,948 shares of the company's stock after buying an additional 7,618 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Citigroup were worth $29,702,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its holdings in Citigroup by 179.5% during the 1st 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 in the last quarter. Nuveen LLC bought a new stake in shares of Citigroup during the first quarter worth $578,100,000. Amundi increased its stake in shares of Citigroup by 78.4% in the first quarter. Amundi now owns 13,713,517 shares of the company's stock valued at $973,523,000 after buying an additional 6,026,268 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings 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 valued at $2,917,794,000 after buying an additional 2,539,769 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG lifted its position in Citigroup by 2,230.8% during the 1st 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 in the last quarter. 71.72% of the stock is owned by institutional investors.

Insider Activity

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

Citigroup Trading Up 0.2%

NYSE:C opened at $97.58 on Friday. 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 1-year low of $55.51 and a 1-year high of $105.59. The firm has a market capitalization of $179.64 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 0.83 and a beta of 1.37. The business's 50-day moving average price is $96.79 and its two-hundred day moving average price is $82.89.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. The company 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% on a year-over-year basis. During the same period in the prior year, the business posted $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. On average, equities 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 dividend of $0.60 per share. This is a positive change from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, August 4th. Citigroup's payout ratio is 35.45%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Morgan Stanley raised their price objective on shares of Citigroup from $107.00 to $129.00 and gave the company an "overweight" rating in a research report on Monday. Barclays raised their price target on shares of Citigroup from $95.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. UBS Group reaffirmed a "neutral" rating and set a $89.00 price objective on shares of Citigroup in a report on Tuesday, July 15th. Oppenheimer decreased their price objective on Citigroup from $124.00 to $123.00 and set an "outperform" rating on the stock in a research report on Tuesday, September 23rd. Finally, Wall Street Zen upgraded Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $99.68.

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.

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