Citigroup Inc. $C Shares Purchased by Merit Financial Group LLC

Key Points

• Merit Financial Group LLC increased its stake in Citigroup Inc. by 25.1%, owning 79,384 shares valued at approximately $6.76 million.
• Analyst ratings have become more favorable for Citigroup, with Wells Fargo raising its price target to $125 and eleven analysts rating the stock as a Buy.
• Citigroup recently increased its quarterly dividend from $0.56 to $0.60 per share, which translates to an annualized yield of 2.5%.

Merit Financial Group LLC raised its position in Citigroup Inc. (NYSE:C - Free Report) by 25.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,384 shares of the company's stock after buying an additional 15,914 shares during the quarter. Merit Financial Group LLC's holdings in Citigroup were worth $6,757,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes 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 lifted its stake in Citigroup by 106.0% in the first quarter. Accent Capital Management LLC now owns 412 shares of the company's stock valued at $29,000 after buying an additional 212 shares during the last quarter. Truvestments Capital LLC lifted its stake 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 buying an additional 246 shares during the last quarter. DHJJ Financial Advisors Ltd. lifted its stake in Citigroup by 157.1% in the second quarter. DHJJ Financial Advisors Ltd. now owns 414 shares of the company's stock valued at $35,000 after buying an additional 253 shares during the last quarter. Finally, HHM Wealth Advisors LLC lifted its stake in Citigroup by 805.2% in the first quarter. HHM Wealth Advisors LLC now owns 525 shares of the company's stock valued at $37,000 after buying an additional 467 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insider Buying and Selling at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of the firm's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the completion of the transaction, the director owned 2,140 shares in the company, valued at $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

C has been the subject of several analyst reports. Wells Fargo & Company upped their price target on Citigroup from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 16th. Wall Street Zen upgraded Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. 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. Dbs Bank cut Citigroup from a "moderate buy" rating to a "hold" rating in a research note on Monday, September 22nd. Finally, Morgan Stanley upped their price target on Citigroup from $107.00 to $129.00 and gave the stock an "overweight" rating in a research note on Monday, September 29th. Eleven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $99.68.

Citigroup Trading Up 0.2%

Shares of C stock opened at $97.58 on Monday. The business's fifty day moving average price is $96.79 and its 200 day moving average price is $83.05. Citigroup Inc. has a 1-year low of $55.51 and a 1-year high of $105.59. The firm has a market capitalization of $179.64 billion, a PE ratio of 14.41, a P/E/G ratio of 0.84 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 announced its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The firm had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same quarter in the prior year, the company posted $1.52 earnings per share. Citigroup's quarterly revenue was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm 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 boost from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Monday, August 4th. Citigroup's dividend payout ratio is currently 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.

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