Philadelphia Financial Management of San Francisco LLC Makes New Investment in Citigroup Inc. $C

Key Points

• Philadelphia Financial Management of San Francisco LLC purchased a new stake in Citigroup Inc. worth approximately $10.44 million, acquiring 147,010 shares during the first quarter.
• Citigroup reported earnings of $1.96 per share for the latest quarter, exceeding analyst expectations of $1.61 per share, with a revenue of $21.67 billion.
• The company announced a quarterly dividend increase to $0.60 per share, reflecting a 2.5% yield and boosting from the previous $0.56.

Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of Citigroup Inc. (NYSE:C - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 147,010 shares of the company's stock, valued at approximately $10,436,000. Citigroup makes up approximately 2.0% of Philadelphia Financial Management of San Francisco LLC's holdings, making the stock its 23rd largest holding.

Other institutional investors also recently bought and sold shares of the company. Private Advisory Group LLC raised its holdings in Citigroup by 20.8% during the first quarter. Private Advisory Group LLC now owns 69,581 shares of the company's stock valued at $4,940,000 after buying an additional 11,978 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Citigroup by 109.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company's stock valued at $88,458,000 after purchasing an additional 649,807 shares during the last quarter. Brighton Jones LLC grew its position in shares of Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after purchasing an additional 12,499 shares during the last quarter. Onyx Bridge Wealth Group LLC acquired a new stake in shares of Citigroup in the first quarter valued at about $214,000. Finally, Pinnacle Financial Partners Inc grew its position in shares of Citigroup by 495.1% in the first quarter. Pinnacle Financial Partners Inc now owns 18,554 shares of the company's stock valued at $1,317,000 after purchasing an additional 15,436 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on C. Wells Fargo & Company raised their price target on Citigroup from $110.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Cowen began coverage on Citigroup in a research report on Wednesday, May 14th. They issued a "hold" rating on the stock. Bank of America raised their price target on Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Evercore ISI set a $77.00 price target on Citigroup in a research report on Monday, July 7th. Finally, Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $96.96.

Citigroup Stock Performance

C stock traded up $0.48 during trading on Monday, reaching $95.88. 11,394,371 shares of the stock were exchanged, compared to its average volume of 12,800,570. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $97.98. The company has a market capitalization of $176.50 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 0.82 and a beta of 1.41. The stock has a 50 day simple moving average of $92.78 and a 200-day simple moving average of $79.33. 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 (NYSE:C - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 8.44% and a return on equity of 7.29%. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were paid 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 yield of 2.5%. The ex-dividend date was Monday, August 4th. Citigroup's dividend payout ratio is 35.45%.

Insider Buying and Selling

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

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.