Northern Trust Corp Acquires 195,013 Shares of Citigroup Inc. $C

Key Points

• Northern Trust Corp has increased its holdings in Citigroup Inc. by 1.0%, owning approximately 20.4 million shares valued at $1.45 billion after purchasing an additional 195,013 shares.
• Several analysts have raised their price targets for Citigroup, with a consensus rating of "Moderate Buy" and an average price target of $96.54.
• Citigroup announced an increase in its quarterly dividend to $0.60 per share, reflecting a 2.6% yield, with the payout slated for August 22nd.

Northern Trust Corp grew its holdings in Citigroup Inc. (NYSE:C - Free Report) by 1.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,427,563 shares of the company's stock after buying an additional 195,013 shares during the period. Northern Trust Corp owned 1.09% of Citigroup worth $1,450,153,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in C. Orion Capital Management LLC acquired a new position in Citigroup in the 4th quarter valued at about $28,000. MorganRosel Wealth Management LLC acquired a new position in Citigroup in the 1st quarter valued at about $28,000. American National Bank & Trust acquired a new position in Citigroup in the 1st quarter valued at about $29,000. Accent Capital Management LLC lifted its holdings in Citigroup by 106.0% during the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company's stock worth $29,000 after purchasing an additional 212 shares during the last quarter. Finally, Mascagni Wealth Management Inc. acquired a new stake in Citigroup during the 4th quarter worth approximately $34,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of Citigroup 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 transaction, the director owned 2,140 shares in the company, valued at approximately $193,456. This trade represents a 58.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.08% of the company's stock.

Citigroup Price Performance

NYSE C traded down $0.6350 during midday trading on Thursday, hitting $92.5350. The company had a trading volume of 17,633,063 shares, compared to its average volume of 15,728,550. The company 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 current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61. The firm has a 50-day moving average price of $88.75 and a 200-day moving average price of $78.11. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $96.90.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.35. The firm 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%.The company's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on C shares. The Goldman Sachs Group lifted their price target on Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. UBS Group reissued a "neutral" rating and set a $89.00 price target on shares of Citigroup in a report on Tuesday, July 15th. Morgan Stanley lifted their price target on Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Oppenheimer lifted their price target on Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Finally, Piper Sandler lifted their price target on Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Citigroup presently has a consensus rating of "Moderate Buy" and an average 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.