Strs Ohio Invests $85.34 Million in Citigroup Inc. $C

Key Points

• Strs Ohio invests $85.34 million in Citigroup by acquiring 1,202,094 shares, representing about 0.06% of the company's stock, according to a recent SEC filing.
• Several institutional investors have increased their stakes in Citigroup, with Goldman Sachs Group Inc. boosting its position by 179.5% in the first quarter.
• Citigroup recently declared a quarterly dividend of $0.60, up from the previous $0.56, which represents a yearly yield of 2.5% based on an annualized basis.

Strs Ohio bought a new position in shares of Citigroup Inc. (NYSE:C - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,202,094 shares of the company's stock, valued at approximately $85,337,000. Strs Ohio owned approximately 0.06% of Citigroup at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Orion Capital Management LLC bought a new stake in shares of Citigroup in the 4th quarter valued at approximately $28,000. MorganRosel Wealth Management LLC bought a new stake in shares of Citigroup in the 1st quarter valued at approximately $28,000. American National Bank & Trust bought a new stake in shares of Citigroup in the 1st quarter valued at approximately $29,000. Accent Capital Management LLC lifted its stake in shares of Citigroup by 106.0% in the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company's stock valued at $29,000 after purchasing an additional 212 shares during the last quarter. Finally, Truvestments Capital LLC lifted its stake in shares of Citigroup by 131.6% in the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company's stock valued at $31,000 after purchasing an additional 246 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the transaction, the director directly 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 hyperlink. Corporate insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

C has been the subject of several analyst reports. Evercore ISI set a $77.00 price objective on Citigroup in a research note on Monday, July 7th. Truist Financial increased their price target on Citigroup from $99.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Barclays increased their price target on Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. 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 report on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods reiterated a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $96.96.

Citigroup Trading Up 0.7%

C traded up $0.69 during trading on Friday, hitting $99.51. 9,502,253 shares of the stock were exchanged, compared to its average volume of 12,405,087. The firm has a 50 day simple moving average of $93.63 and a 200 day simple moving average of $79.87. The firm has a market cap of $183.19 billion, a price-to-earnings ratio of 14.70, a P/E/G ratio of 0.85 and a beta of 1.41. Citigroup Inc. has a 1 year low of $55.51 and a 1 year high of $99.70. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.61 by $0.35. The company had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.Citigroup's quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the business posted $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were issued a $0.60 dividend. 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%. This is a boost from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio (DPR) is 35.45%.

Citigroup 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.