Gallacher Capital Management LLC Purchases 2,947 Shares of Citigroup Inc. $C

Key Points

• Gallacher Capital Management LLC increased its holdings in Citigroup by 36.2%, now owning 11,077 shares valued at approximately $943,000, as per their recent SEC filing.
• Analysts have given Citigroup a Moderate Buy rating, with a target price averaging around $96.96, reflecting positive sentiment towards the company's performance.
• Citigroup declared a quarterly dividend of $0.60 per share, higher than the previous $0.56, indicating a commitment to returning value to shareholders.

Gallacher Capital Management LLC lifted its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 36.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,077 shares of the company's stock after buying an additional 2,947 shares during the period. Gallacher Capital Management LLC's holdings in Citigroup were worth $943,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Private Advisory Group LLC increased its stake in Citigroup by 20.8% in the 1st quarter. Private Advisory Group LLC now owns 69,581 shares of the company's stock valued at $4,940,000 after purchasing an additional 11,978 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in Citigroup by 109.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company's stock valued at $88,458,000 after buying an additional 649,807 shares during the last quarter. Brighton Jones LLC increased its position in 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. Onyx Bridge Wealth Group LLC purchased a new position in Citigroup during the first quarter worth $214,000. Finally, Pinnacle Financial Partners Inc increased its position in Citigroup by 495.1% during the first quarter. Pinnacle Financial Partners Inc now owns 18,554 shares of the company's stock worth $1,317,000 after buying an additional 15,436 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on C shares. Oppenheimer raised their price objective on Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Evercore ISI set a $77.00 price objective on Citigroup in a report on Monday, July 7th. Barclays raised their price objective on Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Truist Financial lifted their target price on Citigroup from $99.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Finally, Wells Fargo & Company lifted their target price on Citigroup from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Tuesday. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $97.68.

Insider Activity

In related 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 completion of the sale, the director directly owned 2,140 shares in the company, valued at approximately $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.08% of the company's stock.

Citigroup Price Performance

C traded up $0.92 during trading on Tuesday, reaching $100.71. The stock had a trading volume of 12,302,837 shares, compared to its average volume of 12,372,174. The firm has a market capitalization of $185.40 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 0.86 and a beta of 1.41. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. Citigroup Inc. has a 1-year low of $55.51 and a 1-year high of $100.85. The stock has a 50 day moving average of $94.18 and a two-hundred day moving average of $80.16.

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 for 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 company's quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 4th were issued a dividend of $0.60 per share. This is a positive change from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Monday, August 4th. Citigroup's dividend payout ratio is 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.