Diligent Investors LLC Invests $228,000 in Citigroup Inc. $C

Key Points

• Diligent Investors LLC has invested approximately $228,000 in Citigroup Inc., acquiring 2,680 shares in the second quarter.
• Citigroup has experienced significant investment activity, with institutional investors owning 71.72% of the stock; notable increases in stakes were reported by companies like AMF Tjanstepension AB with a 44.0% increase.
• The company recently raised its quarterly dividend from $0.56 to $0.60 per share, which represents a 2.5% yield for shareholders.

Diligent Investors LLC purchased a new stake in Citigroup Inc. (NYSE:C - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,680 shares of the company's stock, valued at approximately $228,000.

Other large investors have also modified their holdings of the company. Oak Hill Wealth Advisors LLC grew its position in Citigroup by 6.6% during the 2nd quarter. Oak Hill Wealth Advisors LLC now owns 8,129 shares of the company's stock worth $696,000 after purchasing an additional 500 shares in the last quarter. AMF Tjanstepension AB grew its stake in shares of Citigroup by 44.0% in the 2nd quarter. AMF Tjanstepension AB now owns 855,305 shares of the company's stock valued at $72,835,000 after buying an additional 261,476 shares in the last quarter. Apexium Financial LP raised its position in Citigroup by 4.8% during the second quarter. Apexium Financial LP now owns 4,229 shares of the company's stock valued at $360,000 after acquiring an additional 193 shares in the last quarter. Quent Capital LLC lifted its position in shares of Citigroup by 4.0% in the second quarter. Quent Capital LLC now owns 5,757 shares of the company's stock worth $490,000 after buying an additional 222 shares during the last quarter. Finally, 111 Capital boosted its position in Citigroup by 88.6% during the second quarter. 111 Capital now owns 19,463 shares of the company's stock worth $1,657,000 after purchasing an additional 9,144 shares during the period. 71.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on C shares. Evercore ISI set a $77.00 target price on Citigroup in a report on Monday, July 7th. Truist Financial raised their price objective on shares of Citigroup from $105.00 to $112.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Morgan Stanley upped their target price on shares of Citigroup from $107.00 to $129.00 and gave the company an "overweight" rating in a research note on Monday, September 29th. Dbs Bank lowered shares of Citigroup from a "moderate buy" rating to a "hold" rating in a research report on Monday, September 22nd. Finally, Bank of America upped their price objective on shares of Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Eleven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $99.68.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $193,456. This represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Stock Up 0.2%

C stock opened at $97.58 on Friday. Citigroup Inc. has a 1-year low of $55.51 and a 1-year high of $105.59. The business's 50 day simple moving average is $96.79 and its 200 day simple moving average is $82.97. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $179.64 billion, a PE ratio of 14.41, a PEG ratio of 0.84 and a beta of 1.37.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. The firm had revenue of $21.67 billion during the quarter, compared to analysts' expectations of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The business also recently disclosed 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 represents a $2.40 annualized dividend and a yield of 2.5%. This is a boost from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date was Monday, August 4th. Citigroup's dividend payout ratio (DPR) is 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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