Genesis Private Wealth LLC Makes New $219,000 Investment in Citigroup Inc. $C

Key Points

• Genesis Private Wealth LLC has made a new investment in Citigroup Inc., acquiring 2,572 shares valued at approximately $219,000 during the second quarter.
• Citigroup reported a quarterly revenue of $21.67 billion, surpassing the consensus estimate, with an earnings per share (EPS) of $1.96 for the quarter.
• The company has recently announced an increase in its quarterly dividend from $0.56 to $0.60 per share, reflecting a 2.3% yield on an annualized basis.

Genesis Private Wealth LLC acquired a new position in shares of Citigroup Inc. (NYSE:C - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,572 shares of the company's stock, valued at approximately $219,000.

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

Citigroup Stock Performance

Shares of NYSE:C opened at $103.41 on Monday. The company has a market capitalization of $190.37 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 0.89 and a beta of 1.41. The firm's 50 day simple moving average is $96.30 and its 200 day simple moving average is $82.03. 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 Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $105.59.

Citigroup (NYSE:C - Get Free Report) last announced its earnings results on Tuesday, July 15th. The company reported $1.96 EPS 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 net margin of 8.44% and a return on equity of 7.29%. The business's quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the company posted $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on C shares. Morgan Stanley upped their target price on shares of Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Wells Fargo & Company upped their target price on shares of Citigroup from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Tuesday, September 16th. 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 report on Wednesday, July 2nd. Bank of America upped their target price on shares of Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Finally, Truist Financial upped their target price on shares of Citigroup from $105.00 to $112.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $98.11.

Insider Buying and Selling

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the sale, the director directly owned 2,140 shares in the company, valued at approximately $193,456. This trade represents a 58.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company 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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