Citigroup Inc. $C Stake Raised by Venturi Wealth Management LLC

Key Points

• Venturi Wealth Management LLC increased its stake in Citigroup Inc. by 20.8% during the 2nd quarter, owning 15,403 shares valued at $1,311,000.
• Citigroup reported a EPS of $1.96 in its latest quarterly earnings, exceeding the expected $1.61, with revenues of $21.67 billion for the quarter, up 8.2% year-over-year.
• The company has increased its quarterly dividend to $0.60 per share, representing a 2.5% yield, up from the previous $0.56 payment.

Venturi Wealth Management LLC increased its holdings in Citigroup Inc. (NYSE:C - Free Report) by 20.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,403 shares of the company's stock after acquiring an additional 2,655 shares during the period. Venturi Wealth Management LLC's holdings in Citigroup were worth $1,311,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. BankPlus Trust Department raised its stake in shares of Citigroup by 657.1% during the 2nd quarter. BankPlus Trust Department now owns 6,776 shares of the company's stock worth $577,000 after purchasing an additional 5,881 shares in the last quarter. Joel Isaacson & Co. LLC raised its stake in shares of Citigroup by 7.7% during the 2nd quarter. Joel Isaacson & Co. LLC now owns 5,947 shares of the company's stock worth $506,000 after purchasing an additional 426 shares in the last quarter. Tyche Wealth Partners LLC raised its stake in shares of Citigroup by 33.4% during the 2nd quarter. Tyche Wealth Partners LLC now owns 7,947 shares of the company's stock worth $676,000 after purchasing an additional 1,989 shares in the last quarter. KLP Kapitalforvaltning AS increased its holdings in shares of Citigroup by 3.3% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 894,941 shares of the company's stock valued at $76,177,000 after acquiring an additional 28,400 shares during the last quarter. Finally, Avantra Family Wealth Inc. increased its holdings in shares of Citigroup by 7.6% during the 2nd quarter. Avantra Family Wealth Inc. now owns 21,773 shares of the company's stock valued at $1,853,000 after acquiring an additional 1,529 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Price Performance

Shares of NYSE:C opened at $96.67 on Thursday. 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 $177.96 billion, a PE ratio of 14.28, a PEG ratio of 0.85 and a beta of 1.37. The business's 50 day moving average is $96.92 and its 200-day moving average is $83.43. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61.

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 the consensus estimate of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The company had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same quarter last year, the firm earned $1.52 EPS. Citigroup's revenue for the quarter was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. Sell-side analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, August 4th. This is a boost from Citigroup's previous quarterly dividend of $0.56. Citigroup's payout ratio is 35.45%.

Analysts Set New Price Targets

C has been the topic of a number of analyst reports. TD Cowen increased their price objective on Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a report on Wednesday, July 16th. Evercore ISI set a $77.00 price objective on Citigroup in a report on Monday, July 7th. Keefe, Bruyette & Woods reissued a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. Truist Financial increased their price objective on Citigroup from $105.00 to $112.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Finally, Morgan Stanley increased their price objective on Citigroup from $107.00 to $129.00 and gave the company an "overweight" rating in a report on Monday, September 29th. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Citigroup currently has a consensus rating of "Moderate Buy" and a consensus target price of $99.68.

Insider Buying and Selling at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of Citigroup 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 sale, the director owned 2,140 shares of the company's stock, valued at approximately $193,456. This trade represents a 58.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.08% of the company's stock.

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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