Anson Funds Management LP Invests $710,000 in Citigroup Inc. $C

Key Points

• Anson Funds Management LP invested approximately $710,000 in Citigroup Inc. by acquiring 10,000 shares during the first quarter.
• Citigroup's recent quarterly earnings exceeded analysts' expectations, reporting $1.96 earnings per share, significantly above the consensus estimate of $1.61.
• The company recently announced an increase in its quarterly dividend to $0.60 per share, representing a 2.5% dividend yield.

Anson Funds Management LP acquired a new position in shares of Citigroup Inc. (NYSE:C - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,000 shares of the company's stock, valued at approximately $710,000.

Other hedge funds have also made changes to their positions in the company. True Wealth Design LLC boosted its holdings in Citigroup by 11.1% in the fourth quarter. True Wealth Design LLC now owns 1,195 shares of the company's stock valued at $84,000 after acquiring an additional 119 shares during the last quarter. Continuum Advisory LLC boosted its holdings in Citigroup by 1.9% in the fourth quarter. Continuum Advisory LLC now owns 6,519 shares of the company's stock valued at $459,000 after acquiring an additional 120 shares during the last quarter. Solitude Financial Services boosted its holdings in Citigroup by 0.9% in the first quarter. Solitude Financial Services now owns 16,496 shares of the company's stock valued at $1,171,000 after acquiring an additional 140 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in Citigroup by 2.1% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 6,902 shares of the company's stock valued at $490,000 after acquiring an additional 142 shares during the last quarter. Finally, Insight Inv LLC boosted its holdings in Citigroup by 0.5% in the first quarter. Insight Inv LLC now owns 27,268 shares of the company's stock valued at $1,936,000 after acquiring an additional 146 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.

Insider Activity

In other 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 sale, the director directly owned 2,140 shares of the company's stock, valued at approximately $193,456. The trade was a 58.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on C. Morgan Stanley lifted their target price on Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Piper Sandler lifted their target price on Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Cowen initiated coverage on Citigroup in a research note on Wednesday, May 14th. They set a "hold" rating on the stock. Barclays boosted their price objective on Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Finally, Bank of America boosted their price objective on Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Citigroup currently has a consensus rating of "Moderate Buy" and an average price target of $96.54.

Citigroup Stock Up 2.8%

Shares of NYSE C opened at $95.2040 on Friday. Citigroup Inc. has a 1 year low of $55.51 and a 1 year high of $96.90. The firm has a market cap of $175.26 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 0.82 and a beta of 1.38. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. The stock's 50-day simple moving average is $89.42 and its 200-day simple moving average is $78.31.

Citigroup (NYSE:C - Get Free Report) last announced its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The business had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same period in the previous year, the company earned $1.52 earnings per share. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, August 4th. This is a positive change from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. Citigroup's dividend payout ratio is presently 35.45%.

Citigroup Company Profile

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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