DAVENPORT & Co LLC Has $94.42 Million Stock Holdings in Citigroup Inc. $C

Key Points

• DAVENPORT & Co LLC increased its stake in Citigroup by 0.7% in Q2, owning 1,111,707 shares valued at $94.42 million as of their latest filing.
• Citigroup's recent earnings report showed $1.96 EPS, exceeding expectations by $0.35, with revenues reaching $21.67 billion—an 8.2% increase year-over-year.
• The company has raised its quarterly dividend to $0.60 per share, reflecting a boost from the previous dividend and a yield of 2.5%.

DAVENPORT & Co LLC grew its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,111,707 shares of the company's stock after purchasing an additional 7,651 shares during the period. DAVENPORT & Co LLC owned approximately 0.06% of Citigroup worth $94,423,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Secure Asset Management LLC increased its holdings in shares of Citigroup by 3.7% during the second quarter. Secure Asset Management LLC now owns 3,290 shares of the company's stock valued at $280,000 after acquiring an additional 118 shares in the last quarter. Golden State Equity Partners grew its position in Citigroup by 0.6% in the 2nd quarter. Golden State Equity Partners now owns 21,634 shares of the company's stock valued at $1,842,000 after purchasing an additional 122 shares during the period. Wedmont Private Capital increased its stake in Citigroup by 0.5% during the 2nd quarter. Wedmont Private Capital now owns 23,706 shares of the company's stock valued at $2,034,000 after purchasing an additional 129 shares in the last quarter. RDA Financial Network increased its stake in Citigroup by 3.4% during the 2nd quarter. RDA Financial Network now owns 3,940 shares of the company's stock valued at $335,000 after purchasing an additional 130 shares in the last quarter. Finally, DMKC Advisory Services LLC raised its holdings in Citigroup by 0.7% during the second quarter. DMKC Advisory Services LLC now owns 19,838 shares of the company's stock worth $1,847,000 after buying an additional 131 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Price Performance

Citigroup stock opened at $97.58 on Monday. The business's 50 day simple moving average is $96.79 and its 200 day simple moving average is $83.05. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $105.59. The company has a market cap of $179.64 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 0.84 and a beta of 1.37. 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 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 return on equity of 7.29% and a net margin of 8.44%.The business had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. During the same period last year, the business posted $1.52 earnings per share. The business's revenue for the quarter was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were given 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 was Monday, August 4th. Citigroup's dividend payout ratio (DPR) is 35.45%.

Insider Buying and Selling at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of the business's 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 sale, the director owned 2,140 shares of the company's stock, valued at $193,456. The trade was a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on C. Truist Financial boosted their target price on shares of Citigroup from $105.00 to $112.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Wells Fargo & Company lifted their price target on Citigroup from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Tuesday, September 16th. Zacks Research downgraded Citigroup from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 15th. TD Cowen raised their target price on Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a report on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods reiterated a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. Eleven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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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