Cookson Peirce & Co. Inc. Increases Stake in Citigroup Inc. $C

Key Points

• Cookson Peirce & Co. Inc. increased its stake in Citigroup by 3.0% in Q2, now holding over 220,000 shares valued at approximately $18.75 million.
• Citigroup reported $1.86 EPS for the recent quarter, falling short of analyst expectations of $1.89, while its revenue was $22.09 billion, exceeding forecasts.
• The company announced a quarterly dividend of $0.60, representing a 2.4% yield, with the payment scheduled for November 26th to shareholders on record as of November 3rd.

Cookson Peirce & Co. Inc. grew its stake in Citigroup Inc. (NYSE:C - Free Report) by 3.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 220,313 shares of the company's stock after buying an additional 6,327 shares during the quarter. Cookson Peirce & Co. Inc.'s holdings in Citigroup were worth $18,753,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Private Advisory Group LLC lifted its stake in Citigroup by 20.8% during the first quarter. Private Advisory Group LLC now owns 69,581 shares of the company's stock worth $4,940,000 after purchasing an additional 11,978 shares during the last quarter. Brighton Jones LLC lifted its stake in Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after purchasing an additional 12,499 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Citigroup by 109.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company's stock worth $88,458,000 after purchasing an additional 649,807 shares during the last quarter. Onyx Bridge Wealth Group LLC acquired a new position in Citigroup during the first quarter worth approximately $214,000. Finally, Hayek Kallen Investment Management increased its position in Citigroup by 125.0% during the first quarter. Hayek Kallen Investment Management now owns 15,534 shares of the company's stock worth $1,103,000 after buying an additional 8,630 shares during the period. Hedge funds and other institutional investors own 71.72% of the company's stock.

Citigroup Stock Performance

Citigroup stock opened at $98.29 on Wednesday. The stock's 50-day moving average is $97.78 and its 200-day moving average is $85.24. The company has a market cap of $180.94 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 0.84 and a beta of 1.37. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.99 and a quick ratio of 0.99. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $105.59.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, October 14th. The company reported $1.86 EPS for the quarter, missing analysts' consensus estimates of $1.89 by ($0.03). The firm had revenue of $22.09 billion during the quarter, compared to analysts' expectations of $20.92 billion. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The business's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.51 earnings per share. Citigroup has set its FY 2025 guidance at EPS. Equities analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 3rd will be paid a $0.60 dividend. The ex-dividend date is Monday, November 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. Citigroup's dividend payout ratio (DPR) is 33.71%.

Analyst Ratings Changes

Several research analysts have commented on C shares. Keefe, Bruyette & Woods lifted their price target on Citigroup from $112.00 to $118.00 and gave the stock an "outperform" rating in a research report on Friday, October 17th. Bank of America lifted their price target on Citigroup from $115.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, October 15th. Barclays lifted their price target on Citigroup from $100.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 15th. Truist Financial lifted their price target on Citigroup from $105.00 to $112.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Finally, Piper Sandler lifted their price target on Citigroup from $107.00 to $110.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $107.63.

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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