Trexquant Investment LP Purchases New Position in Citigroup Inc. $C

Key Points

• Trexquant Investment LP has acquired a new position in Citigroup Inc. by purchasing 32,955 shares worth approximately $2.34 million during the first quarter.
• Major hedge funds have significantly increased their stakes in Citigroup, with Goldman Sachs raising its holdings by 179.5% and GAMMA Investing LLC boosting its position by an astonishing 7,899.8%.
• Citigroup announced a quarterly dividend of $0.60, up from $0.56, yielding an annualized dividend of $2.40 and a dividend payout ratio of 35.45%.

Trexquant Investment LP purchased a new stake in Citigroup Inc. (NYSE:C - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 32,955 shares of the company's stock, valued at approximately $2,339,000.

A number of other hedge funds have also modified their holdings of C. Goldman Sachs Group Inc. raised its holdings in Citigroup by 179.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock worth $1,031,790,000 after buying an additional 9,334,038 shares during the period. Nuveen LLC bought a new stake in shares of Citigroup during the first quarter worth $578,100,000. Price T Rowe Associates Inc. MD increased its position in shares of Citigroup by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company's stock worth $2,917,794,000 after acquiring an additional 2,539,769 shares in the last quarter. B. Metzler seel. Sohn & Co. AG increased its position in shares of Citigroup by 2,230.8% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 2,630,308 shares of the company's stock worth $186,726,000 after acquiring an additional 2,517,459 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Citigroup by 7,899.8% during the first quarter. GAMMA Investing LLC now owns 2,430,414 shares of the company's stock worth $172,535,000 after acquiring an additional 2,400,033 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the firm's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the completion of the transaction, the director directly owned 2,140 shares of the company's stock, valued at approximately $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.08% of the company's stock.

Citigroup Price Performance

NYSE:C opened at $94.97 on Thursday. Citigroup Inc. has a 1-year low of $55.51 and a 1-year high of $97.49. 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 firm has a fifty day simple moving average of $92.09 and a 200 day simple moving average of $79.10. The stock has a market capitalization of $174.84 billion, a PE ratio of 14.03, a P/E/G ratio of 0.83 and a beta of 1.41.

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. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The business had revenue of $21.67 billion during the quarter, compared to analysts' expectations of $20.75 billion. During the same period last year, the business earned $1.52 earnings per share. The firm's revenue was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. On average, research analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal 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 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, August 4th. Citigroup's dividend payout ratio (DPR) is 35.45%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on C shares. Barclays increased their price objective on shares of Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. TD Cowen increased their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday, July 16th. Dbs Bank raised shares of Citigroup from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Keefe, Bruyette & Woods reissued a "buy" rating on shares of Citigroup in a research report on Wednesday, July 16th. Finally, Cowen assumed coverage on shares of Citigroup in a report on Wednesday, May 14th. They issued a "hold" rating on the stock. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, Citigroup presently has an average rating of "Moderate Buy" and a consensus target price of $96.96.

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.

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