Citigroup Inc. $C Stake Lifted by Leo Wealth LLC

Key Points

• Leo Wealth LLC increased its stake in Citigroup Inc. by 39.3% in the second quarter, resulting in ownership of 10,771 shares worth $917,000.
• Citigroup recently raised its quarterly dividend from $0.56 to $0.60, reflecting a positive change with a 2.5% yield.
• Citigroup reported $1.96 EPS for the last quarter, exceeding analysts' estimates of $1.61, with revenue increasing by 8.2% year-over-year.

Leo Wealth LLC increased its stake in Citigroup Inc. (NYSE:C - Free Report) by 39.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,771 shares of the company's stock after acquiring an additional 3,041 shares during the period. Leo Wealth LLC's holdings in Citigroup were worth $917,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in Citigroup by 6.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company's stock worth $2,917,794,000 after buying an additional 2,539,769 shares in the last quarter. Northern Trust Corp boosted its holdings in Citigroup by 1.0% during the first quarter. Northern Trust Corp now owns 20,427,563 shares of the company's stock worth $1,450,153,000 after buying an additional 195,013 shares in the last quarter. Invesco Ltd. boosted its holdings in Citigroup by 3.6% during the first quarter. Invesco Ltd. now owns 16,839,915 shares of the company's stock worth $1,195,466,000 after buying an additional 592,820 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Citigroup by 179.5% during the first quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock worth $1,031,790,000 after buying an additional 9,334,038 shares in the last quarter. Finally, Amundi boosted its holdings in Citigroup by 78.4% during the first quarter. Amundi now owns 13,713,517 shares of the company's stock worth $973,523,000 after buying an additional 6,026,268 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Insider Transactions at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the completion of the sale, the director owned 2,140 shares in the company, valued at $193,456. This represents a 58.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.08% of the stock is currently owned by insiders.

Citigroup Stock Down 0.9%

C stock opened at $95.85 on Friday. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $105.59. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. The company has a market cap of $176.45 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 0.84 and a beta of 1.37. The company has a 50 day moving average of $96.96 and a two-hundred day moving average of $83.58.

Citigroup (NYSE:C - Get Free Report) last released 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. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. During the same quarter in the prior year, the firm earned $1.52 EPS. The company's revenue was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.5%. 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 currently 35.45%.

Wall Street Analyst Weigh In

C has been the subject of a number of research reports. Piper Sandler raised their target price on shares of Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Oppenheimer reduced their target price on shares of Citigroup from $124.00 to $123.00 and set an "outperform" rating for the company in a report on Tuesday, September 23rd. Barclays raised their target price on shares of Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Dbs Bank lowered shares of Citigroup from a "moderate buy" rating to a "hold" rating in a research note on Monday, September 22nd. Finally, Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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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