Citigroup Inc. $C Shares Bought by New Century Financial Group LLC

Key Points

• New Century Financial Group LLC increased its stake in Citigroup by 140.3%, acquiring an additional 14,408 shares, which brought their total ownership to 24,678 shares valued at $2,101,000.
• Citigroup recently announced a quarterly dividend increase from $0.56 to $0.60, reflecting a dividend yield of 2.5% and a payout ratio of 35.45%.
• Citigroup shares opened at $97.25, with a one-year range of $55.51 to $105.59, and the company reported earnings per share of $1.96, exceeding expectations.

New Century Financial Group LLC boosted its position in Citigroup Inc. (NYSE:C - Free Report) by 140.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,678 shares of the company's stock after acquiring an additional 14,408 shares during the quarter. Citigroup accounts for 2.5% of New Century Financial Group LLC's holdings, making the stock its 8th largest holding. New Century Financial Group LLC's holdings in Citigroup were worth $2,101,000 at the end of the most recent quarter.

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

Insider Activity

In related news, Director Peter B. Henry sold 3,000 shares of the company's 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 owned 2,140 shares in the company, valued at approximately $193,456. This represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.08% of the stock is currently owned by insiders.

Citigroup Stock Down 1.5%

Shares of Citigroup stock opened at $97.25 on Friday. The stock's 50-day moving average is $96.76 and its 200 day moving average is $82.71. Citigroup Inc. has a one year low of $55.51 and a one year high of $105.59. The firm has a market cap of $179.02 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 0.85 and a beta of 1.37. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99.

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 the consensus estimate of $1.61 by $0.35. The business had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. Citigroup's revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current 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 is a boost from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, August 4th. Citigroup's dividend payout ratio is 35.45%.

Analyst Ratings Changes

A number of brokerages recently issued reports on C. Evercore ISI set a $77.00 price objective on shares of Citigroup in a report on Monday, July 7th. Keefe, Bruyette & Woods reaffirmed a "buy" rating on shares of Citigroup in a research note on Wednesday, July 16th. Barclays boosted their price objective on shares of Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Dbs Bank lowered Citigroup from a "moderate buy" rating to a "hold" rating in a research report on Monday, September 22nd. Finally, Bank of America lifted 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 seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Citigroup presently has a consensus rating of "Moderate Buy" and an average price target of $99.68.

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.

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