GAMMA Investing LLC Acquires 5,615 Shares of Citigroup Inc. $C

Key Points

• GAMMA Investing LLC increased its stake in Citigroup by 16.4%, acquiring an additional 5,615 shares for a total of 39,851 shares worth $3.39 million.
• Analysts have raised their price targets for Citigroup, with Bank of America setting a new target of $100.00 and Truist Financial following suit with a target of $105.00, contributing to a consensus rating of "Moderate Buy".
• Citigroup recently announced a quarterly dividend increase from $0.56 to $0.60, marking an annualized dividend of $2.40 and a dividend yield of 2.3%.

GAMMA Investing LLC boosted its holdings in Citigroup Inc. (NYSE:C - Free Report) by 16.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,851 shares of the company's stock after acquiring an additional 5,615 shares during the period. GAMMA Investing LLC's holdings in Citigroup were worth $3,392,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of C. Goldman Sachs Group Inc. boosted its stake in shares of Citigroup by 179.5% during the first quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock worth $1,031,790,000 after buying an additional 9,334,038 shares during the period. Nuveen LLC acquired a new position in Citigroup during the first quarter worth about $578,100,000. Amundi lifted its stake in Citigroup by 78.4% in the 1st 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 in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Citigroup by 6.6% during 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 acquiring an additional 2,539,769 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG raised its stake in Citigroup by 2,230.8% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 2,630,308 shares of the company's stock valued at $186,726,000 after purchasing an additional 2,517,459 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Up 0.9%

C stock traded up $0.88 during midday trading on Monday, reaching $103.56. The company had a trading volume of 11,434,353 shares, compared to its average volume of 12,393,878. The company has a market capitalization of $190.64 billion, a P/E ratio of 15.30, a PEG ratio of 0.88 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. The company has a 50 day moving average of $95.45 and a two-hundred day moving average of $81.05. Citigroup Inc. has a 1 year low of $55.51 and a 1 year high of $103.81.

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

Citigroup Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Evercore ISI set a $77.00 price target on Citigroup in a report on Monday, July 7th. Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Truist Financial increased their target price on Citigroup from $99.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Dbs Bank upgraded shares of Citigroup from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Finally, The Goldman Sachs Group upped their target price on shares of Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $97.68.

Insider Transactions at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the company's stock in a transaction on Wednesday, July 16th. The shares were 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 in the company, valued at $193,456. The trade was a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.08% of the company's stock.

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.