Northwestern Mutual Wealth Management Co. Has $10.32 Million Stock Position in Citigroup Inc. $C

Key Points

• Northwestern Mutual Wealth Management Co. increased its holdings in Citigroup Inc. by 8.3%, acquiring an additional 11,093 shares in the first quarter, bringing its total to 145,312 shares valued at approximately $10.32 million.
• CitiGroup recently declared a quarterly dividend of $0.60 per share, reflecting an increase from the previous dividend of $0.56, with an annualized yield of 2.5%.
• The stock received multiple price target increases from analysts, with Morgan Stanley raising its target to $107.00 and Wells Fargo increasing it to $115.00, indicating strong investor confidence.

Northwestern Mutual Wealth Management Co. raised its position in Citigroup Inc. (NYSE:C - Free Report) by 8.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,312 shares of the company's stock after purchasing an additional 11,093 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Citigroup were worth $10,316,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Haverford Trust Co raised its stake in shares of Citigroup by 1.2% in the 1st quarter. Haverford Trust Co now owns 12,792 shares of the company's stock valued at $908,000 after acquiring an additional 148 shares in the last quarter. Allstate Corp grew its holdings in Citigroup by 33.2% during the first quarter. Allstate Corp now owns 75,059 shares of the company's stock valued at $5,328,000 after purchasing an additional 18,689 shares during the last quarter. Gitterman Wealth Management LLC bought a new position in shares of Citigroup in the first quarter valued at approximately $204,000. D.B. Root & Company LLC acquired a new stake in shares of Citigroup in the first quarter worth $203,000. Finally, 1832 Asset Management L.P. lifted its stake in shares of Citigroup by 1,808.5% in the first quarter. 1832 Asset Management L.P. now owns 542,084 shares of the company's stock worth $38,483,000 after buying an additional 513,680 shares during the last quarter. Institutional investors own 71.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on C. Wall Street Zen upgraded shares of Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Evercore ISI set a $77.00 price target on Citigroup in a research report on Monday, July 7th. Cowen initiated coverage on Citigroup in a research report on Wednesday, May 14th. They set a "hold" rating for the company. TD Cowen boosted their price objective on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday, July 16th. Finally, Bank of America boosted their price objective on Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Citigroup has a consensus rating of "Moderate Buy" and a consensus target price of $96.54.

Citigroup Stock Performance

Citigroup stock traded down $0.28 during trading hours on Monday, hitting $96.54. The stock had a trading volume of 8,361,286 shares, compared to its average volume of 13,257,021. The company has a 50-day moving average of $91.23 and a two-hundred day moving average of $78.80. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. The company has a market cap of $177.72 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 0.83 and a beta of 1.41. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $97.49.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 EPS 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 revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were paid a $0.60 dividend. The ex-dividend date was Monday, August 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.5%. This is an increase from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio is currently 35.45%.

Insider Buying and Selling at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the sale, the director directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.08% of the company's stock.

Citigroup 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.