Citigroup Inc. $C Shares Acquired by Chesley Taft & Associates LLC

Key Points

• Chesley Taft & Associates LLC increased its stake in Citigroup Inc. by 10.3% during the second quarter, holding a total of 126,610 shares valued at approximately $10.8 million.
• Citigroup reported an earnings per share (EPS) of $1.96 for the last quarter, exceeding analysts' estimates of $1.61, with revenues reaching $21.67 billion.
• The company declared a quarterly dividend of $0.60 per share, reflecting a positive increase from the previous dividend of $0.56, and its dividend yield stands at 2.4%.

Chesley Taft & Associates LLC lifted its holdings in Citigroup Inc. (NYSE:C - Free Report) by 10.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,610 shares of the company's stock after purchasing an additional 11,829 shares during the period. Chesley Taft & Associates LLC's holdings in Citigroup were worth $10,777,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sunpointe LLC acquired a new stake in Citigroup in the 2nd quarter worth about $251,000. Mirador Capital Partners LP boosted its holdings in Citigroup by 17.5% in the 2nd quarter. Mirador Capital Partners LP now owns 36,649 shares of the company's stock worth $3,120,000 after buying an additional 5,462 shares during the last quarter. Baron Wealth Management LLC acquired a new stake in Citigroup in the 2nd quarter worth about $280,000. Westbourne Investments Inc. boosted its holdings in Citigroup by 502.0% in the 2nd quarter. Westbourne Investments Inc. now owns 31,707 shares of the company's stock worth $2,699,000 after buying an additional 26,440 shares during the last quarter. Finally, Aaron Wealth Advisors LLC boosted its holdings in Citigroup by 10.9% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 12,872 shares of the company's stock worth $1,096,000 after buying an additional 1,269 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on C. UBS Group reiterated a "neutral" rating and issued a $89.00 price objective on shares of Citigroup in a report on Tuesday, July 15th. Piper Sandler lifted their price objective on Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. TD Cowen lifted their price objective on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a report on Wednesday, July 16th. Wall Street Zen upgraded Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, Bank of America boosted their target price on Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. 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, the stock has an average rating of "Moderate Buy" and an average price target of $97.68.

Citigroup Stock Performance

Shares of C traded up $0.23 during mid-day trading on Friday, hitting $102.64. 24,743,060 shares of the company's stock were exchanged, compared to its average volume of 12,162,818. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $103.13. The firm has a market capitalization of $188.95 billion, a P/E ratio of 15.16, a P/E/G ratio of 0.88 and a beta of 1.41. The business's 50 day moving average is $95.12 and its two-hundred day moving average is $80.69. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61.

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, topping analysts' consensus estimates of $1.61 by $0.35. The business had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The company's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. On average, equities analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis 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 payout ratio is 35.45%.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.08% of the company's stock.

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.