Arvest Investments Inc. Acquires Shares of 5,564 Citigroup Inc. $C

Key Points

• Arvest Investments Inc. has acquired a new position in Citigroup Inc., purchasing 5,564 shares valued at approximately $474,000 in the second quarter.
• Citigroup recently announced a quarterly dividend increase to $0.60 per share, with a yield of 2.4%, up from the previous dividend of $0.56.
• An analyst upgrade trend is observed, with Bank of America raising the price objective for Citigroup from $89.00 to $100.00 and maintaining a "buy" rating.

Arvest Investments Inc. acquired a new position in Citigroup Inc. (NYSE:C - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,564 shares of the company's stock, valued at approximately $474,000.

Several other hedge funds also recently added to or reduced their stakes in the business. TrueWealth Advisors LLC grew its position in Citigroup by 8.0% in the second quarter. TrueWealth Advisors LLC now owns 7,007 shares of the company's stock worth $596,000 after acquiring an additional 520 shares during the period. McLean Asset Management Corp acquired a new position in Citigroup during the second quarter worth $245,000. HBW Advisory Services LLC lifted its stake in Citigroup by 1.2% during the second quarter. HBW Advisory Services LLC now owns 46,298 shares of the company's stock worth $3,941,000 after purchasing an additional 539 shares in the last quarter. Waller Financial Planning Group Inc. acquired a new position in Citigroup during the second quarter worth $206,000. Finally, Kera Capital Partners Inc. lifted its stake in Citigroup by 110.5% during the second quarter. Kera Capital Partners Inc. now owns 7,713 shares of the company's stock worth $657,000 after purchasing an additional 4,048 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Analysts Set New Price Targets

A number of research firms have commented on C. Wells Fargo & Company upped their price target on Citigroup from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Tuesday. Keefe, Bruyette & Woods restated a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. UBS Group restated a "neutral" rating and set a $89.00 price target on shares of Citigroup in a report on Tuesday, July 15th. Oppenheimer upped their price target on Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Finally, Morgan Stanley upped their price target on Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $97.68.

Citigroup Stock Performance

Shares of C stock traded up $0.92 during mid-day trading on Tuesday, hitting $100.71. 12,302,837 shares of the stock were exchanged, compared to its average volume of 12,372,174. The stock's fifty day simple moving average is $94.18 and its two-hundred day simple moving average is $80.16. The stock has a market capitalization of $185.40 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 0.86 and a beta of 1.41. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $100.85. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99.

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

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 4th were issued a dividend of $0.60 per share. This is an increase from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, August 4th. Citigroup's dividend payout ratio is 35.45%.

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.