BankPlus Trust Department Has $577,000 Stock Holdings in Citigroup Inc. $C

Key Points

• BankPlus Trust Department significantly increased its holdings in Citigroup Inc. by 657.1% during Q2, now owning 6,776 shares valued at $577,000.
• Citigroup's stock received a mixed bag of analyst ratings, with eleven assessing it as a Buy and seven as Hold, reflecting a consensus rating of "Moderate Buy".
• The company raised its quarterly dividend to $0.60 per share, marking a positive shift from its previous dividend of $0.56, and boasts a current yield of 2.5%.

BankPlus Trust Department grew its holdings in Citigroup Inc. (NYSE:C - Free Report) by 657.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,776 shares of the company's stock after purchasing an additional 5,881 shares during the quarter. BankPlus Trust Department's holdings in Citigroup were worth $577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in C. Price T Rowe Associates Inc. MD raised its stake in Citigroup by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company's stock worth $2,917,794,000 after buying an additional 2,539,769 shares during the period. Northern Trust Corp raised its stake in Citigroup by 1.0% during the 1st quarter. Northern Trust Corp now owns 20,427,563 shares of the company's stock worth $1,450,153,000 after buying an additional 195,013 shares during the period. Invesco Ltd. raised its stake in Citigroup by 3.6% during the 1st quarter. Invesco Ltd. now owns 16,839,915 shares of the company's stock worth $1,195,466,000 after buying an additional 592,820 shares during the period. Goldman Sachs Group Inc. raised its stake in Citigroup by 179.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock worth $1,031,790,000 after buying an additional 9,334,038 shares during the period. Finally, Amundi raised its stake in Citigroup by 78.4% during the 1st quarter. Amundi now owns 13,713,517 shares of the company's stock worth $973,523,000 after buying an additional 6,026,268 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on C. Zacks Research downgraded Citigroup from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 15th. Bank of America increased 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. Keefe, Bruyette & Woods reissued a "buy" rating on shares of Citigroup in a research note on Wednesday, July 16th. Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, UBS Group reissued a "neutral" rating and issued a $89.00 price objective on shares of Citigroup in a research note on Tuesday, July 15th. Eleven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $99.68.

Insiders Place Their Bets

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction on 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 owned 2,140 shares in the company, valued at $193,456. This represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.08% of the company's stock.

Citigroup Stock Performance

C stock opened at $97.70 on Wednesday. The firm has a market cap of $179.86 billion, a PE ratio of 14.43, a P/E/G ratio of 0.84 and a beta of 1.37. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. The business has a 50 day moving average of $96.90 and a 200-day moving average of $83.34. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $105.59.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $20.75 billion. During the same period in the prior year, the company earned $1.52 earnings per share. Citigroup's revenue was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.5%. This is a positive change from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Monday, August 4th. Citigroup's dividend payout ratio is currently 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.

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