Empowered Funds LLC Buys 7,735 Shares of Citigroup Inc. $C

Key Points

• Empowered Funds LLC increased its stake in Citigroup by 15.9%, acquiring an additional 7,735 shares, bringing its total holdings to approximately $4 million.
• Analysts have set new price targets for Citigroup, with Morgan Stanley and Wells Fargo increasing their targets to $107.00 and $115.00 respectively, reflecting a positive outlook for the stock.
• Citigroup declared a quarterly dividend of $0.60 per share, up from the previous $0.56, which equates to an annual yield of 2.4%.

Empowered Funds LLC lifted its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 15.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,342 shares of the company's stock after acquiring an additional 7,735 shares during the period. Empowered Funds LLC's holdings in Citigroup were worth $4,000,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Peloton Wealth Strategists bought a new stake in shares of Citigroup during the first quarter valued at approximately $1,512,000. MBB Public Markets I LLC bought a new stake in Citigroup in the 1st quarter worth approximately $324,000. Ascent Group LLC grew its position in Citigroup by 18.0% in the 1st quarter. Ascent Group LLC now owns 43,085 shares of the company's stock worth $3,059,000 after purchasing an additional 6,580 shares during the period. Arete Wealth Advisors LLC grew its position in Citigroup by 19.7% in the 1st quarter. Arete Wealth Advisors LLC now owns 13,660 shares of the company's stock worth $904,000 after purchasing an additional 2,249 shares during the period. Finally, Caxton Associates LLP bought a new stake in Citigroup in the 1st quarter worth approximately $2,420,000. Institutional investors own 71.72% of the company's stock.

Citigroup Price Performance

Shares of C traded up $0.92 during trading hours on Tuesday, reaching $100.71. 12,302,837 shares of the stock traded hands, compared to its average volume of 15,480,594. 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 Inc. has a 52-week low of $55.51 and a 52-week high of $100.85. The company's 50-day moving average price is $93.88 and its two-hundred day moving average price is $80.02. The company has a market cap of $185.40 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 0.85 and a beta of 1.41.

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

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 4th were paid a dividend of $0.60 per share. This is a positive change from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date was Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. Citigroup's dividend payout ratio is presently 35.45%.

Insider Buying and Selling at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of Citigroup 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. The trade was a 58.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of Citigroup from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Tuesday. Dbs Bank raised shares of Citigroup from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Morgan Stanley lifted their target price on shares of Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Keefe, Bruyette & Woods reiterated a "buy" rating on shares of Citigroup in a research note on Wednesday, July 16th. Finally, Oppenheimer lifted their price target on shares of Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $97.68.

Citigroup 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.