Kickstand Ventures LLC. Makes New $285,000 Investment in Citigroup Inc. $C

Key Points

• Kickstand Ventures LLC has made a new investment of $285,000 in Citigroup, acquiring 3,351 shares in the second quarter.
• Citigroup recently reported earnings per share of $1.96 for the last quarter, surpassing analysts' expectations by $0.35.
• The company increased its quarterly dividend from $0.56 to $0.60 per share, reflecting a positive outlook amid strong quarterly performance.

Kickstand Ventures LLC. bought a new position in Citigroup Inc. (NYSE:C - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,351 shares of the company's stock, valued at approximately $285,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Secure Asset Management LLC lifted its stake in shares of Citigroup by 3.7% in the 2nd quarter. Secure Asset Management LLC now owns 3,290 shares of the company's stock worth $280,000 after acquiring an additional 118 shares during the period. Golden State Equity Partners lifted its stake in shares of Citigroup by 0.6% in the 2nd quarter. Golden State Equity Partners now owns 21,634 shares of the company's stock worth $1,842,000 after acquiring an additional 122 shares during the period. Wedmont Private Capital lifted its stake in shares of Citigroup by 0.5% in the 2nd quarter. Wedmont Private Capital now owns 23,706 shares of the company's stock worth $2,034,000 after acquiring an additional 129 shares during the period. RDA Financial Network lifted its stake in shares of Citigroup by 3.4% in the 2nd quarter. RDA Financial Network now owns 3,940 shares of the company's stock worth $335,000 after acquiring an additional 130 shares during the period. Finally, DMKC Advisory Services LLC lifted its stake in shares of Citigroup by 0.7% in the 2nd quarter. DMKC Advisory Services LLC now owns 19,838 shares of the company's stock worth $1,847,000 after acquiring an additional 131 shares during the period. Institutional investors own 71.72% of the company's stock.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The shares were 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. The trade was a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.08% of the stock is owned by corporate insiders.

Citigroup Stock Up 0.2%

C stock opened at $97.58 on Friday. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $105.59. The company's 50 day simple moving average is $96.79 and its 200-day simple moving average is $82.97. 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 firm has a market capitalization of $179.64 billion, a P/E ratio of 14.41, a P/E/G ratio of 0.84 and a beta of 1.37.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The business had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same quarter in the previous year, the business earned $1.52 earnings per share. The firm's revenue was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The company 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. This is an increase from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, August 4th. Citigroup's dividend payout ratio (DPR) is presently 35.45%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on C shares. Piper Sandler upped their price target on shares of Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. The Goldman Sachs Group upped 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 target price on shares of Citigroup in a research note on Monday, July 7th. Dbs Bank lowered shares of Citigroup from a "moderate buy" rating to a "hold" rating in a research note on Monday, September 22nd. Finally, Bank of America increased their target price on shares of Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Eleven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Citigroup has a consensus rating of "Moderate Buy" and an average target price of $99.68.

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.

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