Ieq Capital LLC Increases Stake in Citigroup Inc. $C

Key Points

• Ieq Capital LLC significantly increased its stake in Citigroup Inc. by 68.4%, purchasing an additional 107,439 shares during the first quarter, bringing its total ownership to 264,592 shares valued at approximately $18.78 million.
• Equities analysts have raised their price targets for Citigroup, with Wells Fargo and Goldman Sachs increasing their price objectives, indicating a positive outlook with ten analysts rating the stock as a Buy.
• Citigroup recently announced a quarterly dividend increase to $0.60, up from $0.56, reflecting a dividend yield of 2.5% and a payout ratio of 35.45%.

Ieq Capital LLC increased its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 68.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 264,592 shares of the company's stock after buying an additional 107,439 shares during the period. Ieq Capital LLC's holdings in Citigroup were worth $18,783,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Orion Capital Management LLC purchased a new position in shares of Citigroup during the fourth quarter valued at $28,000. MorganRosel Wealth Management LLC bought a new stake in Citigroup during the first quarter valued at about $28,000. Accent Capital Management LLC boosted its position in Citigroup by 106.0% during the first quarter. Accent Capital Management LLC now owns 412 shares of the company's stock valued at $29,000 after purchasing an additional 212 shares in the last quarter. American National Bank & Trust bought a new stake in Citigroup during the first quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in Citigroup during the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 71.72% of the company's stock.

Citigroup Stock Performance

Shares of Citigroup stock traded down $0.28 on Friday, reaching $96.54. 8,361,286 shares of the stock were exchanged, compared to its average volume of 13,725,170. 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 Inc. has a twelve month low of $55.51 and a twelve month high of $97.49. The firm has a market capitalization of $177.72 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 0.83 and a beta of 1.38. The business has a 50 day moving average price of $91.23 and a two-hundred day moving average price of $78.82.

Citigroup (NYSE:C - Get Free Report) last released its earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $20.75 billion. During the same quarter in the previous year, the company posted $1.52 earnings per share. The company's revenue was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. Analysts anticipate 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. Investors of record on Monday, August 4th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. This is a positive change from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Monday, August 4th. Citigroup's dividend payout ratio is presently 35.45%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on C. TD Cowen raised their price objective on Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a research report on Wednesday, July 16th. Morgan Stanley raised their price objective on Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. The Goldman Sachs Group raised their price target on Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Wells Fargo & Company raised their price target on Citigroup from $110.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Finally, Piper Sandler raised their price target on Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $96.54.

Insider Activity at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the sale, the director owned 2,140 shares of the company's stock, 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 SEC, which is available through this hyperlink. 0.08% of the stock is owned by company insiders.

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.