The Manufacturers Life Insurance Company Has $189.52 Million Stake in Citigroup Inc. $C

Key Points

• The Manufacturers Life Insurance Company increased its stake in Citigroup by 8.8%, acquiring 215,423 shares in the first quarter, giving it ownership of approximately $189.5 million worth of stock.
• Several hedge funds also bolstered their positions in Citigroup, with Price T Rowe Associates increasing its stake by 6.6% and Goldman Sachs Group Inc. raising its stake by a remarkable 179.5%.
• Citigroup reported better-than-expected quarterly earnings with an EPS of $1.96, surpassing estimates, alongside declaring a quarterly dividend increase to $0.60 per share.

The Manufacturers Life Insurance Company raised its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 8.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,669,719 shares of the company's stock after purchasing an additional 215,423 shares during the period. The Manufacturers Life Insurance Company owned about 0.14% of Citigroup worth $189,523,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Orion Capital Management LLC purchased a new position in shares of Citigroup in the 4th quarter valued at $28,000. MorganRosel Wealth Management LLC purchased a new stake in Citigroup during the 1st quarter valued at about $28,000. American National Bank & Trust purchased a new stake in Citigroup during the 1st quarter valued at about $29,000. Accent Capital Management LLC boosted its stake in shares of Citigroup by 106.0% in the first quarter. Accent Capital Management LLC now owns 412 shares of the company's stock worth $29,000 after buying an additional 212 shares during the last quarter. Finally, Truvestments Capital LLC boosted its stake in shares of Citigroup by 131.6% in the first quarter. Truvestments Capital LLC now owns 433 shares of the company's stock worth $31,000 after buying an additional 246 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Barclays upped 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. Morgan Stanley increased their price target on Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Truist Financial increased their price target on Citigroup from $93.00 to $99.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. UBS Group restated a "neutral" rating and set a $89.00 price target on shares of Citigroup in a research report on Tuesday, July 15th. Finally, Wells Fargo & Company lifted their target price on Citigroup from $110.00 to $115.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Citigroup has a consensus rating of "Moderate Buy" and a consensus price target of $96.54.

Insider Activity

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction on 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 of the company's stock, valued at $193,456. This trade represents a 58.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.08% of the stock is owned by company insiders.

Citigroup Price Performance

Citigroup stock traded down $1.84 during mid-day trading on Tuesday, hitting $94.73. The company's stock had a trading volume of 15,124,889 shares, compared to its average volume of 15,622,223. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $97.49. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $174.39 billion, a P/E ratio of 13.99, a P/E/G ratio of 0.83 and a beta of 1.41. The stock's fifty day moving average price is $91.57 and its two-hundred day moving average price is $78.88.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data 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. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The firm had revenue of $21.67 billion for the quarter, compared to analysts' expectations of $20.75 billion. During the same period in the previous year, the company posted $1.52 EPS. The company's quarterly revenue was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. Research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.5%. 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 presently 35.45%.

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.