Russell Investments Group Ltd. Has $338.29 Million Position in Citigroup Inc. (NYSE:C)

Key Points

• Russell Investments Group Ltd. reduced its stake in Citigroup Inc. by 5.2%, selling 261,229 shares and owning about 0.25% of the company, valued at approximately $338 million.
• Citigroup's quarterly earnings surpassed estimates, reporting $1.96 EPS and $21.67 billion in revenue, which reflects an 8.2% increase from the previous year.
• The company announced an increase in its quarterly dividend from $0.56 to $0.60 per share, with a yield of 2.6% and a payout ratio of 35.45%.

Russell Investments Group Ltd. reduced its stake in Citigroup Inc. (NYSE:C - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,770,562 shares of the company's stock after selling 261,229 shares during the quarter. Citigroup makes up 0.5% of Russell Investments Group Ltd.'s investment portfolio, making the stock its 26th largest holding. Russell Investments Group Ltd. owned approximately 0.25% of Citigroup worth $338,288,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in Citigroup by 2.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company's stock worth $2,714,359,000 after purchasing an additional 815,003 shares during the last quarter. Capital World Investors lifted its holdings in shares of Citigroup by 455.2% during the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company's stock worth $2,206,908,000 after buying an additional 25,705,141 shares during the last quarter. Northern Trust Corp boosted its position in shares of Citigroup by 13.9% in the fourth quarter. Northern Trust Corp now owns 20,232,550 shares of the company's stock valued at $1,424,169,000 after acquiring an additional 2,467,958 shares during the period. Invesco Ltd. boosted its position in shares of Citigroup by 3.6% in the first quarter. Invesco Ltd. now owns 16,839,915 shares of the company's stock valued at $1,195,466,000 after acquiring an additional 592,820 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Citigroup by 179.5% in the first quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock valued at $1,031,790,000 after acquiring an additional 9,334,038 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Performance

Shares of NYSE C traded up $0.78 during trading hours on Thursday, reaching $95.43. The stock had a trading volume of 13,285,484 shares, compared to its average volume of 15,872,954. The business's fifty day moving average is $87.15 and its two-hundred day moving average is $77.67. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $175.68 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 0.82 and a beta of 1.38. 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 issued its earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. The business had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. Citigroup's revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.52 earnings per share. As a group, research analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

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

Insider Transactions at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction 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 completion of the transaction, the director directly owned 2,140 shares in the company, valued at $193,456. This represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

C has been the subject of several research reports. Keefe, Bruyette & Woods reissued a "buy" rating on shares of Citigroup in a research report on Wednesday, July 16th. Cowen initiated coverage on Citigroup in a research report on Wednesday, May 14th. They issued a "hold" rating for the company. Truist Financial increased their price objective on Citigroup from $93.00 to $99.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Evercore ISI set a $77.00 price objective on Citigroup in a research report on Monday, July 7th. Finally, Wells Fargo & Company increased their price objective on Citigroup from $110.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, Citigroup currently has a consensus rating of "Moderate Buy" and an average price target of $96.54.

Citigroup Company 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.