Citigroup Inc. $C is Birinyi Associates Inc.'s 10th Largest Position

Key Points

• Birinyi Associates Inc. reduced its position in Citigroup by 2.6% in Q2 2023, now holding 103,164 shares valued at approximately $8.78 million, making it the fund's 10th largest investment.
• Several hedge funds significantly increased their positions in Citigroup, with HHM Wealth Advisors raising its stake by 805.2% in the first quarter.
• Citigroup recently increased its quarterly dividend from $0.56 to $0.60 per share, reflecting a 2.5% yield while maintaining a 35.45% dividend payout ratio.

Birinyi Associates Inc. reduced its position in Citigroup Inc. (NYSE:C - Free Report) by 2.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 103,164 shares of the company's stock after selling 2,741 shares during the period. Citigroup accounts for about 2.6% of Birinyi Associates Inc.'s holdings, making the stock its 10th biggest holding. Birinyi Associates Inc.'s holdings in Citigroup were worth $8,781,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new stake in Citigroup in the first quarter valued at approximately $28,000. Accent Capital Management LLC raised its position in Citigroup by 106.0% in the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company's stock valued at $29,000 after purchasing an additional 212 shares during the last quarter. Truvestments Capital LLC raised its position in Citigroup by 131.6% in the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company's stock valued at $31,000 after purchasing an additional 246 shares during the last quarter. DHJJ Financial Advisors Ltd. raised its position in Citigroup by 157.1% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 414 shares of the company's stock valued at $35,000 after purchasing an additional 253 shares during the last quarter. Finally, HHM Wealth Advisors LLC raised its position in Citigroup by 805.2% in the 1st quarter. HHM Wealth Advisors LLC now owns 525 shares of the company's stock valued at $37,000 after purchasing an additional 467 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

C has been the subject of a number of research reports. Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. UBS Group reaffirmed a "neutral" rating and set a $89.00 price objective on shares of Citigroup in a research note on Tuesday, July 15th. Piper Sandler upped 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. TD Cowen upped their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday, July 16th. Finally, Zacks Research downgraded shares of Citigroup from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 15th. Eleven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $99.68.

Insider Buying and Selling at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 2,140 shares in the company, valued at approximately $193,456. This represents a 58.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.08% of the company's stock.

Citigroup Stock Performance

NYSE:C opened at $97.70 on Wednesday. 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 firm has a 50-day moving average price of $96.90 and a two-hundred day moving average price of $83.34. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $105.59. The company has a market capitalization of $179.86 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 0.84 and a beta of 1.37.

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

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were issued a $0.60 dividend. The ex-dividend date was Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a yield of 2.5%. This is a boost from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio (DPR) is currently 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.

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