Elgethun Capital Management Acquires 10,906 Shares of Citigroup Inc. (NYSE:C)

Key Points

• Elgethun Capital Management increased its stake in Citigroup by 6.9%, acquiring an additional 10,906 shares, which brings its total holdings to 169,505 shares valued at approximately $12 million.
• Citigroup has received favorable ratings from several analysts, with price targets raised by firms like Goldman Sachs and Piper Sandler, indicating a consensus rating of "Moderate Buy" with a target of $96.54.
• The company recently declared an increase in its quarterly dividend to $0.60 per share, representing a 2.6% yield, reflecting a strategy to enhance shareholder returns.

Elgethun Capital Management boosted its holdings in Citigroup Inc. (NYSE:C - Free Report) by 6.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 169,505 shares of the company's stock after buying an additional 10,906 shares during the quarter. Citigroup makes up 2.7% of Elgethun Capital Management's holdings, making the stock its 11th biggest holding. Elgethun Capital Management's holdings in Citigroup were worth $12,033,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Orion Capital Management LLC acquired a new stake in shares of Citigroup during the 4th quarter valued at $28,000. MorganRosel Wealth Management LLC bought a new position in Citigroup in the first quarter valued at about $28,000. American National Bank & Trust acquired a new stake in shares of Citigroup during the first quarter valued at about $29,000. Accent Capital Management LLC grew its holdings in shares of Citigroup by 106.0% during the first quarter. Accent Capital Management LLC now owns 412 shares of the company's stock worth $29,000 after purchasing an additional 212 shares during the last quarter. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of Citigroup during the fourth quarter worth about $34,000. Institutional investors own 71.72% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on C. Truist Financial lifted their target price on shares of Citigroup from $93.00 to $99.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. The Goldman Sachs Group lifted their price target on shares of Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Piper Sandler increased their price objective on Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. UBS Group reaffirmed a "neutral" rating and set a $89.00 target price on shares of Citigroup in a report on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods reissued a "buy" rating on shares of Citigroup in a research note on Wednesday, July 16th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.54.

Insider Transactions at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the company's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the transaction, the director owned 2,140 shares in the company, valued at approximately $193,456. This represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.08% of the company's stock.

Citigroup Trading Up 0.8%

NYSE:C opened at $92.24 on Thursday. The firm has a fifty day simple moving average of $85.40 and a two-hundred day simple moving average of $77.25. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $96.90. The stock has a market capitalization of $172.28 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 0.79 and a beta of 1.38. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. The business had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The firm's revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.52 EPS. Analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 4th. This is an increase from Citigroup's previous quarterly dividend of $0.56. Citigroup's payout ratio is 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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