FCG Investment Co Acquires New Shares in Citigroup Inc. $C

Key Points

• FCG Investment Co has acquired 6,171 shares of Citigroup Inc., valued at approximately $525,000, marking a new stake for the institutional investor.
• Citigroup recently boosted its quarterly dividend from $0.56 to $0.60 per share, representing a 2.4% yield and a payout ratio of 35.45%.
• Analysts from major firms have raised their price targets on Citigroup, with Bank of America increasing its target from $89 to $100 and Piper Sandler adjusting theirs from $84 to $104.

FCG Investment Co acquired a new stake in Citigroup Inc. (NYSE:C - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,171 shares of the company's stock, valued at approximately $525,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Falcon Wealth Planning bought a new stake in Citigroup in the second quarter valued at about $230,000. Novem Group acquired a new position in Citigroup in the second quarter valued at about $291,000. Embree Financial Group grew its stake in Citigroup by 6.1% in the second quarter. Embree Financial Group now owns 3,896 shares of the company's stock valued at $332,000 after acquiring an additional 225 shares during the period. Register Financial Advisors LLC grew its stake in Citigroup by 43.5% in the second quarter. Register Financial Advisors LLC now owns 1,650 shares of the company's stock valued at $140,000 after acquiring an additional 500 shares during the period. Finally, Kennedy Investment Group grew its stake in Citigroup by 17.6% in the second quarter. Kennedy Investment Group now owns 4,722 shares of the company's stock valued at $402,000 after acquiring an additional 708 shares during the period. Institutional investors own 71.72% of the company's stock.

Insider Transactions at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the company's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the sale, 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 is accessible through this hyperlink. Insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on C shares. Bank of America boosted their target price on Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Piper Sandler boosted their target price on Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. The Goldman Sachs Group boosted their target price on Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. TD Cowen boosted their target price on Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a research note on Wednesday, July 16th. Finally, Barclays boosted their price target on Citigroup from $95.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $98.11.

Citigroup Stock Performance

Shares of Citigroup stock opened at $102.03 on Friday. The firm has a market cap of $187.82 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 0.87 and a beta of 1.41. The stock's 50-day moving average is $96.11 and its 200-day moving average is $81.58. Citigroup Inc. has a one year low of $55.51 and a one year 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.

Citigroup (NYSE:C - Get Free Report) last released its earnings results 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. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The business had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same quarter in the prior year, the company posted $1.52 earnings per share. Citigroup's revenue was up 8.2% on a year-over-year basis. 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 fiscal year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 4th were issued a dividend of $0.60 per share. The ex-dividend date was Monday, August 4th. This is a boost 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 is currently 35.45%.

About Citigroup

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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