Aristides Capital LLC Takes Position in Citigroup Inc. $C

Key Points

• Aristides Capital LLC has acquired 12,000 shares of Citigroup Inc., valued at approximately $852,000, indicating growing institutional interest in the company.
• Citigroup reported strong quarterly earnings with an EPS of $1.96, exceeding analyst expectations, and declared a quarterly dividend increase to $0.60.
• Analysts have raised their target prices for Citigroup shares significantly, with many now rating the stock as a "Buy" or "Overweight."

Aristides Capital LLC purchased a new position in shares of Citigroup Inc. (NYSE:C - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 12,000 shares of the company's stock, valued at approximately $852,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Private Advisory Group LLC boosted its position in Citigroup by 20.8% during the first quarter. Private Advisory Group LLC now owns 69,581 shares of the company's stock worth $4,940,000 after acquiring an additional 11,978 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its position in Citigroup by 109.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company's stock worth $88,458,000 after acquiring an additional 649,807 shares during the last quarter. Brighton Jones LLC boosted its position in Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after acquiring an additional 12,499 shares during the last quarter. Onyx Bridge Wealth Group LLC acquired a new position in Citigroup during the first quarter worth about $214,000. Finally, Pinnacle Financial Partners Inc raised its stake in Citigroup by 495.1% during the first quarter. Pinnacle Financial Partners Inc now owns 18,554 shares of the company's stock worth $1,317,000 after purchasing an additional 15,436 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Price Performance

Shares of C opened at $95.00 on Tuesday. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $96.90. The firm's 50 day moving average price is $89.76 and its 200 day moving average price is $78.37. The company has a market cap of $174.89 billion, a P/E ratio of 14.03, a PEG ratio of 0.82 and a beta of 1.38. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 EPS 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 company had revenue of $21.67 billion during the quarter, compared to analysts' expectations of $20.75 billion. During the same quarter in the previous year, the business posted $1.52 EPS. 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 forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend 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 (DPR) is currently 35.45%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on C shares. Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Barclays lifted their target price on shares of Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Evercore ISI set a $77.00 target price on shares of Citigroup in a research note on Monday, July 7th. Truist Financial lifted their target price on shares of Citigroup from $93.00 to $99.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Finally, Oppenheimer lifted their target price on shares of Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $96.54.

Insider Activity at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the 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 transaction, the director directly owned 2,140 shares of the company's stock, valued at $193,456. This trade represents a 58.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.08% of the stock is owned by company insiders.

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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