Blue Edge Capital LLC Makes New Investment in Citigroup Inc. $C

Key Points

• Blue Edge Capital LLC acquired a new stake in Citigroup, purchasing 35,586 shares valued at approximately $2,526,000 in the first quarter.
• Citigroup's quarterly dividend was recently increased to $0.60 per share, representing a 2.6% yield, with the next payment scheduled for August 22nd.
• Analysts have a consensus rating of "Moderate Buy" on Citigroup stock, with target prices ranging from $89.00 to $104.00, reflecting positive market sentiment.

Blue Edge Capital LLC purchased a new stake in Citigroup Inc. (NYSE:C - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 35,586 shares of the company's stock, valued at approximately $2,526,000.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of 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 buying an additional 12,499 shares in the last quarter. Capital International Investors lifted its stake in Citigroup by 148.6% in the fourth quarter. Capital International Investors now owns 4,524,890 shares of the company's stock valued at $318,507,000 after buying an additional 2,704,783 shares during the period. Cadence Bank boosted its stake in Citigroup by 3.8% during the fourth quarter. Cadence Bank now owns 4,162 shares of the company's stock worth $293,000 after acquiring an additional 151 shares in the last quarter. Commerce Bank boosted its position in shares of Citigroup by 0.4% during the 4th quarter. Commerce Bank now owns 221,135 shares of the company's stock worth $15,566,000 after purchasing an additional 891 shares in the last quarter. Finally, GeoWealth Management LLC grew its stake in Citigroup by 10.2% in the fourth quarter. GeoWealth Management LLC now owns 11,338 shares of the company's stock valued at $798,000 after acquiring an additional 1,050 shares during the period. Institutional investors own 71.72% of the company's stock.

Insider Transactions at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction that occurred 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 sale, the director owned 2,140 shares in the company, valued at approximately $193,456. This trade represents a 58.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on C shares. Truist Financial increased their price objective on Citigroup from $93.00 to $99.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Barclays lifted their price objective on shares of Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Piper Sandler increased their price target on Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. The Goldman Sachs Group raised their price objective on shares of Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Citigroup has an average rating of "Moderate Buy" and a consensus price target of $96.54.

Citigroup Stock Performance

Shares of NYSE C traded down $0.6350 during midday trading on Thursday, reaching $92.5350. The company had a trading volume of 10,667,901 shares, compared to its average volume of 15,722,548. The business's 50-day simple moving average is $88.75 and its 200 day simple moving average is $78.11. Citigroup Inc. has a 1 year low of $55.51 and a 1 year high of $96.90. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61. The stock has a market cap of $170.35 billion, a P/E ratio of 13.67, a P/E/G ratio of 0.81 and a beta of 1.38.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 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 for the quarter, compared to the consensus estimate of $20.75 billion. During the same period in the prior year, the firm earned $1.52 EPS. The business's revenue for the quarter was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. On average, analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.6%. This is a boost from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Monday, August 4th. Citigroup's payout ratio is presently 35.45%.

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.