Citigroup Inc. $C Shares Acquired by Grant Private Wealth Management Inc

Key Points

• Grant Private Wealth Management Inc significantly increased its stake in Citigroup Inc. by 2,191.4% during Q2, reaching a total of 78,594 shares valued at approximately $6.69 million.
• Citigroup's recent earnings report exceeded analysts' expectations, with earnings per share at $1.96, which is a marked improvement from $1.52 the previous year.
• The company announced a dividend increase to $0.60 per share, up from $0.56, reflecting a positive change in their dividend payout strategy.

Grant Private Wealth Management Inc lifted its stake in Citigroup Inc. (NYSE:C - Free Report) by 2,191.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 78,594 shares of the company's stock after acquiring an additional 75,164 shares during the quarter. Citigroup makes up approximately 3.8% of Grant Private Wealth Management Inc's investment portfolio, making the stock its 6th largest position. Grant Private Wealth Management Inc's holdings in Citigroup were worth $6,690,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. MorganRosel Wealth Management LLC purchased a new position in shares of Citigroup in the 1st quarter worth approximately $28,000. Accent Capital Management LLC lifted its position in shares of Citigroup by 106.0% during the first quarter. Accent Capital Management LLC now owns 412 shares of the company's stock worth $29,000 after purchasing an additional 212 shares during the last quarter. American National Bank & Trust acquired a new stake in Citigroup in the first quarter valued at approximately $29,000. Truvestments Capital LLC increased its stake 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 acquiring an additional 246 shares during the period. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of Citigroup during the 4th quarter worth about $34,000. 71.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on C. Oppenheimer raised their price target on Citigroup from $123.00 to $124.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Evercore ISI set a $77.00 target price on shares of Citigroup in a research report on Monday, July 7th. UBS Group reissued a "neutral" rating and issued a $89.00 target price on shares of Citigroup in a research note on Tuesday, July 15th. Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, Piper Sandler boosted their price objective on Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Citigroup presently has an average rating of "Moderate Buy" and a consensus price target of $97.68.

Insiders Place Their Bets

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the transaction, the director directly owned 2,140 shares in the company, valued at approximately $193,456. This represents a 58.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.08% of the stock is owned by corporate insiders.

Citigroup Stock Performance

Shares of NYSE C traded up $0.23 during midday trading on Friday, hitting $102.64. 24,743,060 shares of the company's stock traded hands, compared to its average volume of 12,393,878. The firm has a fifty day moving average of $95.12 and a 200 day moving average of $80.82. Citigroup Inc. has a 1 year low of $55.51 and a 1 year high of $103.13. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $188.95 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 0.88 and a beta of 1.41.

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, topping 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 during the quarter, compared to analysts' expectations of $20.75 billion. During the same period last year, the business posted $1.52 earnings per share. The company'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 forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

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

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.