Farmers & Merchants Investments Inc. Has $7.76 Million Stock Holdings in Citigroup Inc. $C

Key Points

• Farmers & Merchants Investments Inc. increased its stake in Citigroup by 3.2%, acquiring an additional 2,864 shares, bringing its total holdings to 91,159 shares valued at approximately $7.76 million.
• Analysts have shown optimism towards Citigroup, with multiple firms raising their target prices; Goldman Sachs increased its target from $85 to $96, indicating a strong buy rating.
• Citigroup recently raised its quarterly dividend to $0.60 per share, up from $0.56, reflecting a dividend yield of 2.3% and a payout ratio of 35.45%.

Farmers & Merchants Investments Inc. raised its stake in Citigroup Inc. (NYSE:C - Free Report) by 3.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,159 shares of the company's stock after acquiring an additional 2,864 shares during the period. Farmers & Merchants Investments Inc.'s holdings in Citigroup were worth $7,759,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of C. Brighton Jones LLC increased its stake in Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after acquiring an additional 12,499 shares during the period. State of Wyoming bought a new position in shares of Citigroup in the 4th quarter valued at $145,000. Parr Mcknight Wealth Management Group LLC bought a new position in shares of Citigroup during the fourth quarter worth about $232,000. GF Fund Management CO. LTD. bought a new stake in shares of Citigroup during the fourth quarter worth about $66,000. Finally, North Star Asset Management Inc. increased its position in Citigroup by 4.9% in the fourth quarter. North Star Asset Management Inc. now owns 3,698 shares of the company's stock worth $260,000 after buying an additional 172 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Trading Up 0.9%

NYSE C traded up $0.88 during trading hours on Monday, hitting $103.56. 11,434,353 shares of the company were exchanged, compared to its average volume of 12,393,878. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. The stock has a 50-day moving average price of $95.45 and a 200 day moving average price of $81.05. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $103.81. The stock has a market cap of $190.64 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 0.88 and a beta of 1.41.

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

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, August 4th. This is an increase from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a dividend yield of 2.3%. Citigroup's dividend payout ratio is currently 35.45%.

Wall Street Analyst Weigh In

C has been the topic of a number of research reports. Evercore ISI set a $77.00 target price on shares of Citigroup in a research note on Monday, July 7th. Barclays boosted their target price on shares of Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Zacks Research lowered shares of Citigroup from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 15th. Wells Fargo & Company upped their price objective on shares of Citigroup from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Finally, Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $97.68.

Insider Activity at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the transaction, the director directly owned 2,140 shares in the company, valued at $193,456. The trade was a 58.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.08% of the stock is owned by company insiders.

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.