Duncan Williams Asset Management LLC Purchases New Shares in Citigroup Inc. $C

Key Points

• Duncan Williams Asset Management LLC purchased 3,351 shares of Citigroup Inc., valued at approximately $285,000, indicating growing institutional interest in the company.
• Citigroup recently increased its quarterly dividend to $0.60, up from $0.56, which translates to an annualized yield of 2.4%.
• Analysts have mixed ratings for Citigroup, with a consensus rating of "Moderate Buy" and an average target price of $99.68, showing varied outlooks on its stock performance.

Duncan Williams Asset Management LLC purchased a new position in shares of Citigroup Inc. (NYSE:C - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,351 shares of the company's stock, valued at approximately $285,000.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after buying an additional 12,499 shares during the period. Vest Financial LLC raised its holdings in Citigroup by 73.5% in the 1st quarter. Vest Financial LLC now owns 15,482 shares of the company's stock valued at $1,099,000 after acquiring an additional 6,559 shares in the last quarter. Wedmont Private Capital raised its holdings in Citigroup by 35.6% in the 1st quarter. Wedmont Private Capital now owns 23,577 shares of the company's stock valued at $1,674,000 after acquiring an additional 6,188 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Citigroup by 13.1% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 8,204 shares of the company's stock valued at $582,000 after acquiring an additional 950 shares during the period. Finally, Park Avenue Securities LLC grew its holdings in shares of Citigroup by 13.5% during the 1st quarter. Park Avenue Securities LLC now owns 74,803 shares of the company's stock worth $5,310,000 after purchasing an additional 8,920 shares in the last quarter. Institutional investors own 71.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on C. Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Oppenheimer dropped their target price on shares of Citigroup from $124.00 to $123.00 and set an "outperform" rating for the company in a research report on Tuesday, September 23rd. UBS Group reiterated a "neutral" rating and set a $89.00 price target on shares of Citigroup in a research report on Tuesday, July 15th. Bank of America boosted 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. Finally, Wells Fargo & Company upped their target price on Citigroup from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 16th. Eleven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $99.68.

Insider Buying and Selling

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the 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 completion of the transaction, the director directly owned 2,140 shares in the company, valued at approximately $193,456. This trade 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. Corporate insiders own 0.08% of the company's stock.

Citigroup Price Performance

Shares of NYSE:C opened at $98.02 on Tuesday. The company has a market cap of $180.45 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 0.84 and a beta of 1.37. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a 50 day simple moving average of $96.84 and a 200 day simple moving average of $83.23. Citigroup Inc. has a one year low of $55.51 and a one year high of $105.59.

Citigroup (NYSE:C - Get Free Report) last posted its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. The firm had revenue of $21.67 billion for 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 was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. Research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.4%. 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 currently 35.45%.

Citigroup Company 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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