Citigroup (NYSE:C) Releases Quarterly Earnings Results, Beats Expectations By $0.35 EPS

Citigroup (NYSE:C) posted its quarterly earnings data on Tuesday. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.35, Briefing.com reports. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. The business had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. During the same period in the prior year, the company earned $1.52 earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year. Citigroup updated its FY 2025 guidance to EPS.

Citigroup Stock Performance

Shares of NYSE C opened at $90.55 on Wednesday. The firm has a market cap of $169.12 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 0.69 and a beta of 1.34. The business’s 50-day simple moving average is $79.16 and its 200-day simple moving average is $75.03. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.98 and a current ratio of 0.98. Citigroup has a 52 week low of $53.51 and a 52 week high of $91.80.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be given a $0.60 dividend. This is a positive change from Citigroup’s previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Monday, August 4th. Citigroup’s dividend payout ratio is presently 35.39%.

Wall Street Analyst Weigh In

A number of research firms have commented on C. Bank of America raised their target price on Citigroup from $89.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, June 26th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $92.00 price target (down previously from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. Piper Sandler reiterated an “overweight” rating and set a $77.00 price target (down from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. Morgan Stanley lifted their price target on shares of Citigroup from $94.00 to $103.00 and gave the stock an “overweight” rating in a report on Thursday, July 3rd. Finally, UBS Group reiterated a “neutral” rating and set a $89.00 price target on shares of Citigroup in a report on Tuesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.11.

Insider Activity at Citigroup

In related news, Director John Cunningham Dugan sold 4,417 shares of the firm’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the transaction, the director owned 13,048 shares in the company, valued at $890,656.48. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On Citigroup

A hedge fund recently raised its stake in Citigroup stock. Brighton Jones LLC lifted its position in shares of Citigroup Inc. (NYSE:C) by 166.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,990 shares of the company’s stock after acquiring an additional 12,499 shares during the quarter. Brighton Jones LLC’s holdings in Citigroup were worth $1,407,000 at the end of the most recent reporting period. 71.72% of the stock is owned by institutional investors.

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.