Citigroup Inc. $C Stock Position Boosted by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its stake in Citigroup Inc. by 3.3%, owning a total of 894,941 shares valued at $76.17 million by the end of the second quarter.
• Recent analyst reports have set new price targets for Citigroup, with Bank of America raising it to $100.00 and Morgan Stanley to $129.00, reflecting a consensus rating of "Moderate Buy."
• Citigroup recently announced a quarterly dividend increase to $0.60 per share, representing a 2.4% yield, up from the previous $0.56 payout.

KLP Kapitalforvaltning AS boosted its stake in Citigroup Inc. (NYSE:C - Free Report) by 3.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 894,941 shares of the company's stock after buying an additional 28,400 shares during the period. KLP Kapitalforvaltning AS's holdings in Citigroup were worth $76,177,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of C. MorganRosel Wealth Management LLC bought a new position in Citigroup in the 1st quarter valued at about $28,000. Accent Capital Management LLC grew its position in Citigroup by 106.0% in the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company's stock valued at $29,000 after buying an additional 212 shares in the last quarter. Truvestments Capital LLC grew its position in Citigroup by 131.6% in the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company's stock valued at $31,000 after buying an additional 246 shares in the last quarter. DHJJ Financial Advisors Ltd. grew its position in Citigroup by 157.1% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 414 shares of the company's stock valued at $35,000 after buying an additional 253 shares in the last quarter. Finally, HHM Wealth Advisors LLC grew its position in Citigroup by 805.2% in the 1st quarter. HHM Wealth Advisors LLC now owns 525 shares of the company's stock valued at $37,000 after buying an additional 467 shares in the last quarter. Institutional investors own 71.72% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on C. Evercore ISI set a $77.00 target price on shares of Citigroup in a research report on Monday, July 7th. Weiss Ratings reissued a "buy (b)" rating on shares of Citigroup in a report on Saturday, September 27th. Bank of America upped their price target on shares of Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Piper Sandler upped their price target on shares of Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, Morgan Stanley upped their price target on shares of Citigroup from $107.00 to $129.00 and gave the company an "overweight" rating in a report on Monday, September 29th. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Citigroup presently has a consensus rating of "Moderate Buy" and an average target price of $99.68.

Insider Buying and Selling at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of the company's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the transaction, the director owned 2,140 shares in the company, valued at $193,456. This represents a 58.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.08% of the stock is owned by corporate insiders.

Citigroup Price Performance

C stock opened at $98.02 on Tuesday. 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 Inc. has a one year low of $55.51 and a one year high of $105.59. The firm has a market capitalization of $180.45 billion, a PE ratio of 14.48, a P/E/G ratio of 0.84 and a beta of 1.37. The firm has a 50-day moving average of $96.84 and a two-hundred day moving average of $83.23.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating 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 analyst estimates of $20.75 billion. During the same period in the prior year, the firm earned $1.52 earnings per share. The business's quarterly revenue was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. On average, analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The firm 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. The ex-dividend date was Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. This is a positive change from Citigroup's previous quarterly dividend of $0.56. 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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