FMB Wealth Management Invests $214,000 in Citigroup Inc. $C

Key Points

• FMB Wealth Management has invested approximately $214,000 in Citigroup by purchasing 2,515 shares during the 2nd quarter of 2023.
• Analysts have a consensus rating of "Moderate Buy" for Citigroup, with an average target price of $99.68, indicating optimism about the stock's future performance.
• Citigroup recently increased its quarterly dividend to $0.60 per share, reflecting a positive change from the previous dividend, and maintaining a dividend yield of 2.3%.

FMB Wealth Management purchased a new position in shares of Citigroup Inc. (NYSE:C - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,515 shares of the company's stock, valued at approximately $214,000.

Other hedge funds have also added to or reduced their stakes in the company. Private Advisory Group LLC lifted its holdings in Citigroup by 20.8% during the 1st quarter. Private Advisory Group LLC now owns 69,581 shares of the company's stock worth $4,940,000 after purchasing an additional 11,978 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in Citigroup by 109.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company's stock worth $88,458,000 after purchasing an additional 649,807 shares during the last quarter. Brighton Jones LLC lifted its holdings in Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after purchasing an additional 12,499 shares during the last quarter. Onyx Bridge Wealth Group LLC acquired a new position in Citigroup in the 1st quarter valued at $214,000. Finally, Hayek Kallen Investment Management raised its holdings in Citigroup by 125.0% in the 1st quarter. Hayek Kallen Investment Management now owns 15,534 shares of the company's stock valued at $1,103,000 after acquiring an additional 8,630 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

C has been the subject of several analyst reports. Barclays lifted their price objective on Citigroup from $95.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods reissued a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. Dbs Bank cut Citigroup from a "moderate buy" rating to a "hold" rating in a report on Monday, September 22nd. Truist Financial boosted their price target on Citigroup from $105.00 to $112.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Finally, TD Cowen boosted their price target on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a report on Wednesday, July 16th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Citigroup has an average rating of "Moderate Buy" and an average target price of $99.68.

Citigroup Trading Down 0.3%

NYSE C opened at $103.11 on Tuesday. The business's 50-day moving average price is $96.52 and its two-hundred day moving average price is $82.27. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $105.59. The firm has a market capitalization of $189.82 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 0.89 and a beta of 1.41. 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 (NYSE:C - Get Free Report) last released its quarterly 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. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The firm had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same quarter in the previous year, the company posted $1.52 EPS. The business's revenue was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. On average, analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

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

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the transaction, the director directly owned 2,140 shares of the company's stock, valued at $193,456. The trade was a 58.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is owned by corporate insiders.

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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