Gradient Investments LLC Raises Stock Holdings in Citigroup Inc. $C

Key Points

• Gradient Investments LLC significantly increased its stake in Citigroup Inc. by 512.2%, owning 28,194 shares worth about $2.4 million at the end of the second quarter.
• Citigroup reported earnings of $1.96 per share, surpassing estimates, with revenues of $21.67 billion for the quarter, representing an 8.2% increase year-over-year.
• The company announced a quarterly dividend increase to $0.60 per share, up from $0.56, resulting in an annual yield of 2.4%.

Gradient Investments LLC boosted its stake in Citigroup Inc. (NYSE:C - Free Report) by 512.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,194 shares of the company's stock after buying an additional 23,589 shares during the period. Gradient Investments LLC's holdings in Citigroup were worth $2,400,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of C. Brighton Jones LLC raised its holdings in Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after buying an additional 12,499 shares during the period. State of Wyoming purchased a new stake in Citigroup during the fourth quarter worth about $145,000. Texas Bank & Trust Co purchased a new stake in Citigroup during the fourth quarter worth about $224,000. Triglav Skladi D.O.O. purchased a new stake in Citigroup during the fourth quarter worth about $3,356,000. Finally, Vident Advisory LLC increased its stake in Citigroup by 102.1% during the fourth quarter. Vident Advisory LLC now owns 83,338 shares of the company's stock worth $5,867,000 after purchasing an additional 42,108 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Price Performance

C stock opened at $99.89 on Tuesday. The business has a 50 day moving average price of $93.88 and a 200 day moving average price of $80.02. The stock has a market cap of $183.89 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 0.85 and a beta of 1.41. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $100.17. 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 posted its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.35. The firm had revenue of $21.67 billion during the quarter, compared to analysts' expectations of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The firm's revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors 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 a positive change 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 (DPR) is presently 35.45%.

Insiders Place Their Bets

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the business'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 value of $271,200.00. Following the completion of the sale, the director owned 2,140 shares in the company, valued at approximately $193,456. The trade was a 58.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on C. The Goldman Sachs Group boosted their price target on shares of Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Evercore ISI set a $77.00 price target on shares of Citigroup in a research note on Monday, July 7th. Oppenheimer boosted their price objective on Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Dbs Bank raised Citigroup from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Finally, TD Cowen boosted their price objective on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday, July 16th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $96.96.

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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