Robeco Institutional Asset Management B.V. Acquires 1,195,950 Shares of Citigroup Inc. $C

Key Points

• Robeco Institutional Asset Management B.V. increased its stake in Citigroup Inc. by 63.3%, acquiring an additional 1,195,950 shares in the second quarter, bringing its total to 3,085,496 shares valued at approximately $262.6 million.
• Despite recent institutional investment increases, Citigroup's stock is rated as a "Moderate Buy" with an average price target of $99.68, as per 10 Buy and 7 Hold ratings from analysts.
• Citigroup recently declared a quarterly dividend of $0.60 per share, an increase from the previous dividend of $0.56, representing an annualized yield of 2.4%.

Robeco Institutional Asset Management B.V. raised its holdings in Citigroup Inc. (NYSE:C - Free Report) by 63.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,085,496 shares of the company's stock after purchasing an additional 1,195,950 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.17% of Citigroup worth $262,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its stake in Citigroup by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company's stock valued at $2,917,794,000 after purchasing an additional 2,539,769 shares during the period. Northern Trust Corp grew its stake in Citigroup by 1.0% in the 1st quarter. Northern Trust Corp now owns 20,427,563 shares of the company's stock valued at $1,450,153,000 after purchasing an additional 195,013 shares during the period. Invesco Ltd. grew its stake in Citigroup by 3.6% in the 1st quarter. Invesco Ltd. now owns 16,839,915 shares of the company's stock valued at $1,195,466,000 after purchasing an additional 592,820 shares during the period. Goldman Sachs Group Inc. grew its stake in Citigroup by 179.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock valued at $1,031,790,000 after purchasing an additional 9,334,038 shares during the period. Finally, Amundi grew its stake in Citigroup by 78.4% in the 1st quarter. Amundi now owns 13,713,517 shares of the company's stock valued at $973,523,000 after purchasing an additional 6,026,268 shares during the period. Institutional investors own 71.72% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on C. Dbs Bank downgraded Citigroup from a "moderate buy" rating to a "hold" rating in a research note on Monday, September 22nd. Truist Financial increased their price target on Citigroup from $105.00 to $112.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. The Goldman Sachs Group increased their price target on Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. TD Cowen increased their price target on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research note on Wednesday, July 16th. Finally, Piper Sandler increased their price target on Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Ten research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $99.68.

Citigroup Stock Down 2.7%

Shares of NYSE C opened at $98.72 on Thursday. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $105.59. The business has a 50-day simple moving average of $96.72 and a two-hundred day simple moving average of $82.52. 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 $181.74 billion, a P/E ratio of 14.58, a P/E/G ratio of 0.87 and a beta of 1.37.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The business had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. During the same quarter last year, the company earned $1.52 EPS. The firm's revenue was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. Research 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 was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were given 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 2.4%. Citigroup's dividend payout ratio is 35.45%.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the sale, 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 0.08% of the company's stock.

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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