Falcon Wealth Planning Purchases New Position in Citigroup Inc. $C

Key Points

• Falcon Wealth Planning acquired a new position in Citigroup Inc., purchasing 2,703 shares valued at approximately $230,000 in the second quarter.
• Citigroup's stock has received upgrades from several analysts, with the average price target set at $98.11 and a rating of "Moderate Buy."
• The company recently increased its quarterly dividend to $0.60 per share, signifying a positive change from the previous $0.56.

Falcon Wealth Planning purchased a new stake in Citigroup Inc. (NYSE:C - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,703 shares of the company's stock, valued at approximately $230,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its stake in Citigroup by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company's stock valued at $2,917,794,000 after buying an additional 2,539,769 shares during the last quarter. Northern Trust Corp lifted its stake in Citigroup by 1.0% in the first quarter. Northern Trust Corp now owns 20,427,563 shares of the company's stock valued at $1,450,153,000 after buying an additional 195,013 shares during the last quarter. Invesco Ltd. lifted its stake in Citigroup by 3.6% in the first quarter. Invesco Ltd. now owns 16,839,915 shares of the company's stock valued at $1,195,466,000 after buying an additional 592,820 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Citigroup by 179.5% in the first quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock valued at $1,031,790,000 after buying an additional 9,334,038 shares during the last quarter. Finally, Amundi lifted its stake in Citigroup by 78.4% in the first quarter. Amundi now owns 13,713,517 shares of the company's stock valued at $973,523,000 after buying an additional 6,026,268 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

C has been the subject of a number of research reports. Wall Street Zen upgraded Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Morgan Stanley boosted their price objective on Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Oppenheimer reduced their price objective on Citigroup from $124.00 to $123.00 and set an "outperform" rating for the company in a research note on Tuesday. Bank of America upped their price target on Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Finally, The Goldman Sachs Group upped their price target on Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, Citigroup presently has an average rating of "Moderate Buy" and an average price target of $98.11.

Citigroup Price Performance

Citigroup stock opened at $102.03 on Friday. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $105.59. 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 business has a 50 day simple moving average of $96.11 and a 200-day simple moving average of $81.58. The stock has a market capitalization of $187.82 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 0.87 and a beta of 1.41.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 7.29% and a net margin of 8.44%.Citigroup's revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. Equities analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were given a $0.60 dividend. The ex-dividend date was Monday, August 4th. This is a positive change from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a yield of 2.4%. Citigroup's dividend payout ratio (DPR) is currently 35.45%.

Insider Transactions at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction 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 completion of 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 legal filing with the SEC, which can be accessed through this link. Insiders own 0.08% of the company's stock.

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.

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