7,111 Shares in Citigroup Inc. $C Purchased by Kaufman Rossin Wealth LLC

Key Points

• Kaufman Rossin Wealth LLC purchased 7,111 shares of Citigroup Inc., valuing the investment at approximately $505,000.
• Citigroup has announced an increase in its quarterly dividend to $0.60 per share, representing an annualized yield of 2.6%.
• Several brokerages have raised their price targets for Citigroup, with Wells Fargo increasing its target from $110.00 to $115.00 and maintaining an "overweight" rating.

Kaufman Rossin Wealth LLC acquired a new stake in Citigroup Inc. (NYSE:C - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 7,111 shares of the company's stock, valued at approximately $505,000.

Other hedge funds also recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in Citigroup by 179.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock valued at $1,031,790,000 after purchasing an additional 9,334,038 shares in the last quarter. Nuveen LLC bought a new stake in Citigroup during the 1st quarter valued at $578,100,000. Price T Rowe Associates Inc. MD increased its stake in Citigroup by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company's stock valued at $2,917,794,000 after purchasing an additional 2,539,769 shares in the last quarter. Northern Trust Corp increased its stake in Citigroup by 13.9% during the 4th quarter. Northern Trust Corp now owns 20,232,550 shares of the company's stock valued at $1,424,169,000 after purchasing an additional 2,467,958 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Citigroup by 7,899.8% during the 1st quarter. GAMMA Investing LLC now owns 2,430,414 shares of the company's stock valued at $172,535,000 after purchasing an additional 2,400,033 shares in the last quarter. Institutional investors own 71.72% of the company's stock.

Citigroup Stock Up 2.8%

Shares of NYSE C traded up $2.6140 during trading on Friday, hitting $95.2040. The stock had a trading volume of 20,110,841 shares, compared to its average volume of 14,361,365. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $96.90. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $175.26 billion, a PE ratio of 14.06, a PEG ratio of 0.82 and a beta of 1.38. The firm has a fifty day moving average of $89.42 and a two-hundred day moving average of $78.31.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. The company 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 firm's quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 4th were issued a $0.60 dividend. This is an increase from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. Citigroup's payout ratio is presently 35.45%.

Analysts Set New Price Targets

A number of analysts have commented on C shares. Barclays boosted their price target on shares of Citigroup from $95.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Truist Financial boosted their price target on shares of Citigroup from $93.00 to $99.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. UBS Group reaffirmed a "neutral" rating and set a $89.00 price objective on shares of Citigroup in a report on Tuesday, July 15th. Dbs Bank upgraded shares of Citigroup from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Finally, Keefe, Bruyette & Woods reiterated a "buy" rating on shares of Citigroup in a research note on Wednesday, July 16th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $96.54.

Insider Buying and Selling at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the transaction, the director directly owned 2,140 shares of the company's stock, valued at approximately $193,456. The trade was a 58.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.08% of the company's stock.

About Citigroup

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.