OMERS ADMINISTRATION Corp Acquires 26,547 Shares of Citigroup Inc. $C

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Citigroup by 26.7% during the first quarter, acquiring an additional 26,547 shares, bringing their total holdings to 125,924 shares valued at approximately $8.94 million.
• Several large investors, including Pinnacle Financial Partners and OVERSEA CHINESE BANKING Corp Ltd, significantly expanded their holdings in Citigroup, with the latter increasing its stake by 109%.
• Wall Street analysts have shown a positive outlook on Citigroup, with a consensus price target of $96.54 and multiple analysts upgrading their ratings following the company's strong earnings report.

OMERS ADMINISTRATION Corp grew its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 26.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 125,924 shares of the company's stock after acquiring an additional 26,547 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Citigroup were worth $8,939,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Orion Capital Management LLC purchased a new position in shares of Citigroup during the fourth quarter worth approximately $28,000. MorganRosel Wealth Management LLC purchased a new position in shares of Citigroup during the first quarter worth approximately $28,000. American National Bank & Trust purchased a new position in shares of Citigroup during the first quarter worth approximately $29,000. Accent Capital Management LLC raised its stake in shares of Citigroup by 106.0% during the first quarter. Accent Capital Management LLC now owns 412 shares of the company's stock worth $29,000 after acquiring an additional 212 shares in the last quarter. Finally, Truvestments Capital LLC raised its stake in shares of Citigroup by 131.6% during the first quarter. Truvestments Capital LLC now owns 433 shares of the company's stock worth $31,000 after acquiring an additional 246 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Citigroup

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

Analyst Ratings Changes

Several research analysts recently commented on the stock. Piper Sandler lifted their target price on shares of Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Bank of America lifted their target price on shares of Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Barclays lifted their target price on shares of Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Morgan Stanley lifted their target price on shares of Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Finally, Evercore ISI set a $77.00 target price on shares of Citigroup in a research note on Monday, July 7th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $96.54.

Citigroup Trading Down 0.3%

NYSE:C traded down $0.28 during trading hours on Monday, hitting $96.54. The company had a trading volume of 8,361,286 shares, compared to its average volume of 13,257,021. The company has a market capitalization 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. The stock has a 50-day moving average price of $91.23 and a 200 day moving average price of $78.80. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $97.49. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results 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 business had revenue of $21.67 billion for the quarter, compared to analysts' expectations of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were issued a dividend of $0.60 per share. This is a boost from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date was Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. Citigroup's dividend payout ratio (DPR) is presently 35.45%.

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.