Baron Wealth Management LLC Purchases New Shares in Citigroup Inc. $C

Key Points

• Baron Wealth Management LLC acquired a new stake in Citigroup Inc. by purchasing 3,287 shares valued at approximately $280,000 in Q2.
• Citigroup recently reported a net revenue of $21.67 billion for the quarter, exceeding analysts' estimates, with an earnings per share of $1.96.
• The company increased its quarterly dividend to $0.60 per share, marking an annualized dividend yield of 2.4%.

Baron Wealth Management LLC bought a new stake in shares of Citigroup Inc. (NYSE:C - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,287 shares of the company's stock, valued at approximately $280,000.

A number of other large investors also recently modified their holdings of C. Continuum Advisory LLC lifted its holdings in Citigroup by 1.9% during the fourth quarter. Continuum Advisory LLC now owns 6,519 shares of the company's stock valued at $459,000 after purchasing an additional 120 shares in the last quarter. RDA Financial Network lifted its holdings in Citigroup by 3.4% during the second quarter. RDA Financial Network now owns 3,940 shares of the company's stock valued at $335,000 after purchasing an additional 130 shares in the last quarter. Solitude Financial Services lifted its holdings in Citigroup by 0.9% during the first quarter. Solitude Financial Services now owns 16,496 shares of the company's stock valued at $1,171,000 after purchasing an additional 140 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in Citigroup by 2.1% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 6,902 shares of the company's stock valued at $490,000 after purchasing an additional 142 shares in the last quarter. Finally, Insight Inv LLC lifted its holdings in Citigroup by 0.5% during the first quarter. Insight Inv LLC now owns 27,268 shares of the company's stock valued at $1,936,000 after purchasing an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of the company's 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 completion of the transaction, the director owned 2,140 shares in the company, valued at approximately $193,456. This represents a 58.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.08% of the company's stock.

Citigroup Stock Up 0.2%

NYSE C traded up $0.23 on Friday, hitting $102.64. 24,743,060 shares of the stock were exchanged, compared to its average volume of 12,162,818. The company has a 50-day moving average price of $95.12 and a 200-day moving average price of $80.69. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $103.13. 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 company has a market cap of $188.95 billion, a PE ratio of 15.16, a PEG ratio of 0.88 and a beta of 1.41.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating 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 business had revenue of $21.67 billion during the quarter, compared to analysts' expectations of $20.75 billion. During the same quarter in the prior year, the business posted $1.52 EPS. The company's revenue for the quarter was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Citigroup Inc. will post 7.53 EPS 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 2.3%. 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%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Oppenheimer raised their price target 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. Truist Financial raised their price target on shares of Citigroup from $99.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Zacks Research downgraded shares of Citigroup from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 15th. Dbs Bank raised shares of Citigroup from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Finally, Morgan Stanley raised their price target on shares of Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Citigroup presently has an average rating of "Moderate Buy" and a consensus price target of $97.68.

Citigroup 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.