MBL Wealth LLC Invests $247,000 in Citigroup Inc. $C

Key Points

• MBL Wealth LLC has invested approximately $247,000 to acquire 3,481 shares of Citigroup Inc. in the first quarter of 2023.
• Analysts have a consensus rating of "Moderate Buy" for Citigroup, with ten analysts rating the stock as a Buy and an average target price of $96.96.
• Citigroup recently increased its quarterly dividend to $0.60 per share, reflecting an annualized yield of 2.5% and a positive change from the previous dividend of $0.56.

MBL Wealth LLC acquired a new position in shares of Citigroup Inc. (NYSE:C - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,481 shares of the company's stock, valued at approximately $247,000.

Other large investors also recently modified their holdings of the company. Orion Capital Management LLC acquired a new stake in shares of Citigroup during the 4th quarter worth approximately $28,000. MorganRosel Wealth Management LLC acquired a new stake in shares of Citigroup during the 1st quarter worth approximately $28,000. American National Bank & Trust bought a new position in shares of Citigroup in the 1st quarter worth $29,000. Accent Capital Management LLC lifted its holdings in shares of Citigroup by 106.0% in the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company's stock worth $29,000 after purchasing an additional 212 shares in the last quarter. Finally, Truvestments Capital LLC lifted its holdings in shares of Citigroup by 131.6% in the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company's stock worth $31,000 after purchasing an additional 246 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on C. Piper Sandler increased their target price on Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Cowen began coverage on Citigroup in a report on Wednesday, May 14th. They issued a "hold" rating on the stock. Morgan Stanley increased their target price on Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Evercore ISI set a $77.00 target price on Citigroup in a report on Monday, July 7th. Finally, Oppenheimer increased their target price on Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $96.96.

Insider Transactions at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction 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 transaction, the director directly owned 2,140 shares of the company's stock, valued at $193,456. The trade was a 58.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is owned by corporate insiders.

Citigroup Price Performance

C opened at $97.27 on Thursday. 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 $179.06 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 0.84 and a beta of 1.41. The firm's fifty day moving average price is $93.21 and its two-hundred day moving average price is $79.58. Citigroup Inc. has a 1 year low of $55.51 and a 1 year high of $98.38.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. The firm 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 business's revenue for the quarter was up 8.2% compared to the same quarter last year. 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, analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a yield of 2.5%. This is a positive change from Citigroup's previous quarterly dividend of $0.56. 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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