GKV Capital Management Co. Inc. Raises Position in Citigroup Inc. $C

Key Points

• GKV Capital Management Co. Inc. significantly increased its stake in Citigroup, raising its ownership by 1,807% to a total of 19,070 shares, valued at approximately $1.35 million.
• Recent research reports from firms like Morgan Stanley and Piper Sandler have upgraded Citigroup's price targets, reflecting a consensus rating of "Moderate Buy" among analysts.
• Citigroup has announced a quarterly dividend increase from $0.56 to $0.60 per share, marking an annual yield of 2.5% with a payout ratio of 35.45%.

GKV Capital Management Co. Inc. lifted its stake in Citigroup Inc. (NYSE:C - Free Report) by 1,807.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,070 shares of the company's stock after buying an additional 18,070 shares during the period. GKV Capital Management Co. Inc.'s holdings in Citigroup were worth $1,354,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Orion Capital Management LLC purchased a new stake in shares of Citigroup in the fourth quarter worth about $28,000. MorganRosel Wealth Management LLC purchased a new stake in shares of Citigroup in the first quarter worth about $28,000. American National Bank & Trust purchased a new stake in shares of Citigroup in the first quarter worth about $29,000. Accent Capital Management LLC boosted its position in shares of Citigroup by 106.0% in the first quarter. Accent Capital Management LLC now owns 412 shares of the company's stock worth $29,000 after buying an additional 212 shares during the period. Finally, Truvestments Capital LLC boosted its position in shares of Citigroup by 131.6% in the first quarter. Truvestments Capital LLC now owns 433 shares of the company's stock worth $31,000 after buying an additional 246 shares during the period. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insider Transactions at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the company's 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 sale, the director owned 2,140 shares in the company, valued at $193,456. This represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on C shares. Cowen started coverage on Citigroup in a report on Wednesday, May 14th. They issued a "hold" rating for the company. Morgan Stanley increased their price target on Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Piper Sandler increased their price target on Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Bank of America increased their price target on Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Finally, TD Cowen increased their price target on Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a report on Wednesday, July 16th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Citigroup currently has a consensus rating of "Moderate Buy" and an average price target of $96.54.

Citigroup Trading Down 0.1%

Shares of NYSE C opened at $96.79 on Friday. The stock's 50 day moving average price is $90.87 and its two-hundred day moving average price is $78.73. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $97.49. The stock has a market capitalization of $178.19 billion, a P/E ratio of 14.30, a PEG ratio of 0.83 and a beta of 1.38. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $21.67 billion for the quarter, compared to analysts' expectations of $20.75 billion. During the same quarter in the prior year, the firm posted $1.52 earnings per share. Citigroup's revenue for the quarter was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. On average, analysts anticipate 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. Shareholders of record on Monday, August 4th were paid a dividend of $0.60 per share. The ex-dividend date 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 yield of 2.5%. Citigroup's payout ratio is currently 35.45%.

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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