Swedbank AB Has $928.35 Million Holdings in Citigroup Inc. $C

Key Points

• Swedbank AB increased its stake in Citigroup Inc. by 14.8% in the second quarter, owning over 10.9 million shares valued at approximately $928 million.
• Institutional investors hold around 71.72% of Citigroup's stock, with notable increases in positions from firms like Goldman Sachs and Amundi.
• Citigroup raised its quarterly dividend from $0.56 to $0.60, representing a dividend yield of 2.4% and a payout ratio of 35.45%.

Swedbank AB increased its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 14.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,906,386 shares of the company's stock after acquiring an additional 1,406,624 shares during the period. Citigroup comprises approximately 1.0% of Swedbank AB's holdings, making the stock its 13th largest holding. Swedbank AB owned approximately 0.58% of Citigroup worth $928,352,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Orion Capital Management LLC acquired a new position in Citigroup during the 4th quarter worth $28,000. MorganRosel Wealth Management LLC acquired a new position in Citigroup during the 1st quarter worth $28,000. American National Bank & Trust acquired a new position in Citigroup during the 1st quarter worth $29,000. Accent Capital Management LLC lifted its holdings in Citigroup by 106.0% during the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company's stock worth $29,000 after buying an additional 212 shares in the last quarter. Finally, Truvestments Capital LLC lifted its holdings in Citigroup by 131.6% during the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company's stock worth $31,000 after buying an additional 246 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.

Citigroup Stock Up 0.9%

Shares of C traded up $0.88 during midday trading on Monday, hitting $103.56. The stock had a trading volume of 11,434,353 shares, compared to its average volume of 12,393,878. The company has a 50 day simple moving average of $95.45 and a two-hundred day simple moving average of $81.05. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $103.81. The firm has a market cap of $190.64 billion, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 0.88 and a beta of 1.41. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99.

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

Citigroup Increases Dividend

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

Insider Buying and Selling at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of Citigroup 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 completion of the transaction, the director owned 2,140 shares in the company, valued at approximately $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Truist Financial increased their price target on Citigroup from $99.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Keefe, Bruyette & Woods reissued a "buy" rating on shares of Citigroup in a research note on Wednesday, July 16th. Bank of America increased their price target on Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Finally, Morgan Stanley raised their price objective on Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $97.68.

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.