Sumitomo Mitsui DS Asset Management Company Ltd Buys 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 increased 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 filing with the Securities and Exchange Commission (SEC). The institutional investor owned 257,930 shares of the company's stock after purchasing an additional 9,644 shares during the quarter. 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 have also added to or reduced their stakes in the stock. Brighton Jones LLC raised its holdings in Citigroup by 166.9% in 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 during the last quarter. State of Wyoming bought a new position in Citigroup in the 4th quarter valued at approximately $145,000. Zurich Insurance Group Ltd FI bought a new position in Citigroup in the 4th quarter valued at approximately $25,580,000. Woodline Partners LP bought a new position in Citigroup in the 4th quarter valued at approximately $7,995,000. Finally, Waverly Advisors LLC raised its holdings in Citigroup by 65.7% in the 4th quarter. Waverly Advisors LLC now owns 30,600 shares of the company's stock valued at $2,154,000 after buying an additional 12,130 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on C shares. UBS Group restated a "neutral" rating and set a $89.00 price target on shares of Citigroup in a report on Tuesday, July 15th. Keefe, Bruyette & Woods restated a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. Oppenheimer raised their price objective on shares of Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Finally, Dbs Bank raised shares of Citigroup from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Citigroup has an average rating of "Moderate Buy" and a consensus target price of $97.68.

Citigroup Price Performance

Shares of Citigroup stock traded up $0.23 during trading on Friday, hitting $102.64. The stock had a trading volume of 24,743,060 shares, compared to its average volume of 12,162,818. The firm has a market cap of $188.95 billion, a price-to-earnings ratio of 15.16, a P/E/G ratio of 0.88 and a beta of 1.41. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $103.13. The business's 50-day moving average is $95.12 and its 200 day moving average is $80.75. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.35. The firm had revenue of $21.67 billion for 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%. The business's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 4th were paid a $0.60 dividend. 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 currently 35.45%.

Insider Buying and Selling

In related 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 value of $271,200.00. Following the transaction, the director owned 2,140 shares of the company's stock, 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 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.