Sumitomo Mitsui DS Asset Management Company Ltd Purchases 9,644 Shares of Citigroup Inc. $C

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd has increased its stake in Citigroup Inc. by 3.9% during the 2nd quarter, now owning 257,930 shares valued at approximately $21.95 million.
• Several institutional investors have recently acquired positions in Citigroup, with 71.72% of the stock currently owned by institutional investors and hedge funds.
• Citigroup announced a quarterly dividend increase from $0.56 to $0.60, representing a two-year annualized yield of 2.4% and a dividend payout ratio of 35.45%.

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 3.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 257,930 shares of the company's stock after buying an additional 9,644 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Citigroup were worth $21,955,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in C. Brighton Jones LLC increased its position in Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after buying an additional 12,499 shares in the last quarter. State of Wyoming bought a new position in Citigroup during the 4th quarter valued at approximately $145,000. Zurich Insurance Group Ltd FI bought a new position in Citigroup during the 4th quarter valued at approximately $25,580,000. Woodline Partners LP purchased a new stake in Citigroup during the 4th quarter valued at $7,995,000. Finally, Waverly Advisors LLC boosted its stake in Citigroup by 65.7% during the 4th quarter. Waverly Advisors LLC now owns 30,600 shares of the company's stock valued at $2,154,000 after purchasing an additional 12,130 shares during the last quarter. Institutional investors own 71.72% of the company's stock.

Citigroup Stock Performance

NYSE C traded up $0.88 on Monday, hitting $103.56. 11,434,353 shares of the company traded hands, compared to its average volume of 12,393,878. The company has a market capitalization of $190.64 billion, a price-to-earnings ratio of 15.30, a P/E/G ratio of 0.88 and a beta of 1.41. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61. The business's 50 day moving average price is $95.45 and its 200-day moving average price is $81.05. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $103.81.

Citigroup (NYSE:C - Get Free Report) last released its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, beating 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% compared to the same quarter last year. During the same period in the previous year, the business earned $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. Equities analysts expect 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 issued a dividend of $0.60 per share. This is a boost from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Monday, August 4th. Citigroup's payout ratio is 35.45%.

Analyst Upgrades and Downgrades

Several analysts have commented on C shares. Keefe, Bruyette & Woods reiterated a "buy" rating on shares of Citigroup in a research note on Wednesday, July 16th. The Goldman Sachs Group increased their target price on Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Piper Sandler increased their target price on Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Wells Fargo & Company increased their target price on Citigroup from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Tuesday, September 16th. Finally, TD Cowen increased their target price on Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a research note on Wednesday, July 16th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Citigroup presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.68.

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 stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the sale, the director directly owned 2,140 shares of the company's stock, valued at $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is currently owned by corporate insiders.

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.