LeConte Wealth Management LLC Acquires New Position in Citigroup Inc. $C

Key Points

• LeConte Wealth Management LLC acquired a new position in Citigroup Inc., purchasing 2,557 shares valued at approximately $218,000 in the second quarter.
• Citigroup has recently declared an increased quarterly dividend of $0.60 per share, up from $0.56, representing a 2.4% dividend yield.
• Analysts have varied ratings for Citigroup, with ten rating it a Buy, six as Hold, and a consensus target price set at $98.11.

LeConte Wealth Management LLC acquired a new stake in Citigroup Inc. (NYSE:C - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,557 shares of the company's stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in C. MorganRosel Wealth Management LLC acquired a new stake in shares of Citigroup in the first quarter valued at about $28,000. American National Bank & Trust acquired a new stake in shares of Citigroup in the first quarter valued at about $29,000. Accent Capital Management LLC lifted its stake in shares of Citigroup by 106.0% in 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 during the period. Truvestments Capital LLC lifted 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 valued at $31,000 after purchasing an additional 246 shares during the period. Finally, Mascagni Wealth Management Inc. acquired a new position in Citigroup during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 71.72% of the company's stock.

Insider Activity at Citigroup

In related 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 value of $271,200.00. Following the completion of the sale, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.08% of the stock is currently owned by company insiders.

Analyst Ratings Changes

C has been the subject of a number of research reports. Piper Sandler lifted their target price on shares of Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Zacks Research cut shares of Citigroup from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 15th. Evercore ISI set a $77.00 target price on shares of Citigroup in a research report on Monday, July 7th. Morgan Stanley lifted their target price on shares of Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, Wall Street Zen upgraded shares of Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $98.11.

Citigroup Stock Performance

Shares of NYSE C opened at $101.67 on Thursday. The company has a market cap of $187.16 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 0.89 and a beta of 1.41. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $105.59. 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 50-day simple moving average of $95.93 and a 200-day simple moving average of $81.34.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly 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. The business had revenue of $21.67 billion during 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 company's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Citigroup Inc. will post 7.53 earnings per share 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 represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. This is a boost from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date was Monday, August 4th. Citigroup's payout ratio is presently 35.45%.

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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