The Manufacturers Life Insurance Company Sells 137,410 Shares of Citigroup Inc. $C

The Manufacturers Life Insurance Company trimmed its holdings in Citigroup Inc. (NYSE:C) by 7.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,735,115 shares of the company’s stock after selling 137,410 shares during the quarter. The Manufacturers Life Insurance Company owned 0.10% of Citigroup worth $242,847,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of C. Paladin Partners LLC acquired a new position in Citigroup during the 2nd quarter valued at $27,000. Mcguire Capital Advisors Inc. acquired a new stake in Citigroup in the 4th quarter worth $25,000. Whipplewood Advisors LLC bought a new position in shares of Citigroup during the 1st quarter worth about $25,000. TD Capital Management LLC bought a new position in shares of Citigroup during the 4th quarter worth about $28,000. Finally, IMG Wealth Management Inc. increased its holdings in shares of Citigroup by 197.6% during the 1st quarter. IMG Wealth Management Inc. now owns 244 shares of the company’s stock worth $28,000 after purchasing an additional 162 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Performance

NYSE:C opened at $131.65 on Tuesday. The firm has a market capitalization of $224.54 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 0.59 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.71. Citigroup Inc. has a 12-month low of $92.96 and a 12-month high of $147.96. The firm has a 50-day moving average price of $137.01 and a 200 day moving average price of $126.45.

Citigroup (NYSE:C) last released its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.74 by $0.41. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The company had revenue of $24.77 billion for the quarter, compared to the consensus estimate of $23.74 billion. During the same period in the previous year, the business earned $1.96 earnings per share. The company’s quarterly revenue was up 14.5% on a year-over-year basis. Research analysts anticipate that Citigroup Inc. will post 11.2 earnings per share for the current fiscal year.

Citigroup declared that its board has initiated a stock repurchase program on Thursday, May 7th that authorizes the company to buyback $30.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 13.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 3rd will be given a dividend of $0.67 per share. This is a boost from Citigroup’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, August 3rd. This represents a $2.68 annualized dividend and a dividend yield of 2.0%. Citigroup’s dividend payout ratio is 28.94%.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup experienced unusual options activity, including bullish call sweeps and a reported $223 million after-hours block trade. The activity appears to reflect institutional interest and may provide short-term support for the shares. Citigroup Sees Unusual Options Activity and $223 Million Block Trade After Hours
• Positive Sentiment: Citi and India’s Axis Bank are partnering to capture nonresident Indian deposits and increase dollar inflows. The initiative could expand Citi’s cross-border deposits, payments and foreign-exchange business in a strategically important market. Citigroup and Axis Bank Team Up on Leveraged India Dollar Deposit Boom
• Positive Sentiment: Citigroup reported $647.2 billion in sustainable financing commitments since 2020 and established new 2030 goals. The progress may strengthen the bank’s relationships with corporate clients and support long-term fee opportunities, though the direct earnings impact is uncertain. Citi Reports Sustainable Finance Progress and Sets New 2030 Goals
• Neutral Sentiment: Analyst coverage remains favorable based on Citigroup’s average brokerage recommendation. However, the report cautions that sell-side ratings can be overly optimistic, limiting the reliability of this signal as a stand-alone reason to buy. Is Citigroup a Buy as Wall Street Analysts Look Optimistic?
• Neutral Sentiment: Citigroup has room under the national deposit cap to acquire a large regional bank, but CEO Jane Fraser continues to emphasize organic growth rather than mergers and acquisitions. This preserves strategic flexibility without creating an immediate deal catalyst. Wells Fargo and Citigroup Have Room to Buy a Big Bank

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Argus set a $150.00 target price on shares of Citigroup in a research note on Wednesday, July 15th. Bank of America boosted their price target on Citigroup from $170.00 to $176.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Zacks Research raised Citigroup from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Morgan Stanley raised their price objective on Citigroup from $154.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Citigroup in a report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $145.22.

Citigroup Profile

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.