Norinchukin Bank The Grows Stake in Citigroup Inc. $C

Key Points

• Norinchukin Bank increased its stake in Citigroup by 14.8% in the first quarter, now owning 98,746 shares worth $7,010,000.
• Citigroup's recent quarterly earnings showed EPS of $1.96, surpassing estimates, with revenue of $21.67 billion, indicating a year-over-year growth of 8.2%.
• The company announced a quarterly dividend increase to $0.60 per share, up from $0.56, representing a 2.6% dividend yield.

Norinchukin Bank The lifted its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 14.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,746 shares of the company's stock after purchasing an additional 12,738 shares during the period. Norinchukin Bank The's holdings in Citigroup were worth $7,010,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Private Advisory Group LLC increased its stake in shares of Citigroup by 20.8% during the first quarter. Private Advisory Group LLC now owns 69,581 shares of the company's stock worth $4,940,000 after purchasing an additional 11,978 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of Citigroup by 109.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company's stock worth $88,458,000 after purchasing an additional 649,807 shares in the last quarter. Brighton Jones LLC increased its stake in shares of Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after purchasing an additional 12,499 shares in the last quarter. Onyx Bridge Wealth Group LLC purchased a new stake in shares of Citigroup during the first quarter worth about $214,000. Finally, Pinnacle Financial Partners Inc increased its stake in shares of Citigroup by 495.1% during the first quarter. Pinnacle Financial Partners Inc now owns 18,554 shares of the company's stock worth $1,317,000 after purchasing an additional 15,436 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insider Activity at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the 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 transaction, the director directly owned 2,140 shares of the company's stock, valued at $193,456. This trade represents a 58.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.08% of the stock is owned by company insiders.

Citigroup Trading Down 0.7%

Shares of NYSE:C opened at $92.5350 on Friday. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $96.90. The company's 50 day moving average is $89.04 and its two-hundred day moving average is $78.20. 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 cap of $170.35 billion, a PE ratio of 13.67, a P/E/G ratio of 0.80 and a beta of 1.38.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. During the same period in the prior year, the firm posted $1.52 EPS. The company's quarterly revenue was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. Equities analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be given a $0.60 dividend. 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. Citigroup's payout ratio is 35.45%.

Analyst Upgrades and Downgrades

C has been the subject of a number of research reports. UBS Group reissued a "neutral" rating and set a $89.00 target price on shares of Citigroup in a research note on Tuesday, July 15th. Bank of America upped their price objective on shares of Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Wells Fargo & Company upped their price objective on shares of Citigroup from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Dbs Bank raised shares of Citigroup from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Finally, Truist Financial upped their price objective on shares of Citigroup from $93.00 to $99.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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