State of Alaska Department of Revenue Sells 9,900 Shares of Citigroup Inc. $C

Key Points

• The State of Alaska Department of Revenue sold 9,900 shares of Citigroup Inc., reducing its stake by 4.5% and owning a total of 210,114 shares valued at approximately $17.88 million at the end of the last quarter.
• Citigroup announced a quarterly dividend increase to $0.60 per share, up from $0.56, resulting in an annualized dividend of $2.40 and a yield of 2.3%.
• Citigroup's recent earnings report indicated an EPS of $1.96, surpassing analysts' expectations and showing a revenue growth of 8.2% year-over-year, with a total revenue of $21.67 billion.

State of Alaska Department of Revenue decreased its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 4.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 210,114 shares of the company's stock after selling 9,900 shares during the period. State of Alaska Department of Revenue's holdings in Citigroup were worth $17,884,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its position in Citigroup by 6.6% in the first 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 in the last quarter. Northern Trust Corp grew its position in Citigroup by 1.0% in the first 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 in the last quarter. Invesco Ltd. grew its position in 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 purchasing an additional 592,820 shares in the last quarter. Goldman Sachs Group Inc. grew its position in 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 purchasing an additional 9,334,038 shares in the last quarter. Finally, Amundi grew its position in Citigroup by 78.4% in the first 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 in the last quarter. Institutional investors own 71.72% of the company's stock.

Insider Activity

In other 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.08% of the company's stock.

Citigroup Stock Performance

NYSE C opened at $103.41 on Friday. The firm has a 50-day moving average of $96.30 and a 200-day moving average of $81.83. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $190.37 billion, a PE ratio of 15.27, a P/E/G ratio of 0.88 and a beta of 1.41. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $105.59.

Citigroup (NYSE:C - Get Free Report) last posted its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. The company 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%. Citigroup's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were paid a dividend of $0.60 per share. The ex-dividend date was Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.3%. This is a boost from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio is 35.45%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Dbs Bank downgraded shares of Citigroup from a "moderate buy" rating to a "hold" rating in a research report on Monday, September 22nd. Piper Sandler lifted their price objective on shares of Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Evercore ISI set a $77.00 price objective on shares of Citigroup in a research report on Monday, July 7th. Finally, Oppenheimer decreased their price objective on shares of Citigroup from $124.00 to $123.00 and set an "outperform" rating for the company in a research report on Tuesday. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, Citigroup currently has an average rating of "Moderate Buy" and an average price target of $98.11.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.