McElhenny Sheffield Capital Management LLC Invests $12.77 Million in Citigroup Inc. $C

Key Points

• McElhenny Sheffield Capital Management LLC has acquired 150,000 shares of Citigroup Inc., investing approximately $12.77 million during the second quarter, making Citigroup the firm's 21st largest position.
• Citigroup's stock price is currently at $96.67, with a 12-month range between $55.51 and $105.59, reflecting its market cap of $177.96 billion.
• Analysts have a consensus rating of "Moderate Buy" for Citigroup, with a target price averaging $99.68, indicating positive growth expectations despite mixed individual ratings from different firms.

McElhenny Sheffield Capital Management LLC purchased a new position in Citigroup Inc. (NYSE:C - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 150,000 shares of the company's stock, valued at approximately $12,768,000. Citigroup makes up about 0.8% of McElhenny Sheffield Capital Management LLC's holdings, making the stock its 21st biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of C. Price T Rowe Associates Inc. MD lifted its position in Citigroup by 6.6% during the first 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 during the last quarter. Northern Trust Corp lifted its position in Citigroup by 1.0% during the first quarter. Northern Trust Corp now owns 20,427,563 shares of the company's stock valued at $1,450,153,000 after purchasing an additional 195,013 shares during the last quarter. Invesco Ltd. lifted its position in Citigroup by 3.6% during the first quarter. Invesco Ltd. now owns 16,839,915 shares of the company's stock valued at $1,195,466,000 after purchasing an additional 592,820 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Citigroup by 179.5% during the first quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock worth $1,031,790,000 after acquiring an additional 9,334,038 shares in the last quarter. Finally, Amundi raised its stake in shares of Citigroup by 78.4% during the first quarter. Amundi now owns 13,713,517 shares of the company's stock worth $973,523,000 after acquiring an additional 6,026,268 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on C. Piper Sandler lifted 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. Oppenheimer decreased their target price on shares of Citigroup from $124.00 to $123.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 23rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Citigroup in a research note on Wednesday. Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Morgan Stanley lifted their target price on shares of Citigroup from $107.00 to $129.00 and gave the stock an "overweight" rating in a research note on Monday, September 29th. Eleven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Citigroup currently has a consensus rating of "Moderate Buy" and an average price target of $99.68.

Insider Activity at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of the business's 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 sale, the director owned 2,140 shares in the company, valued at approximately $193,456. The trade was a 58.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.08% of the company's stock.

Citigroup Stock Performance

Shares of C stock opened at $96.67 on Thursday. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $105.59. The stock has a market cap of $177.96 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 0.85 and a beta of 1.37. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61. The company's fifty day moving average price is $96.92 and its 200-day moving average price is $83.43.

Citigroup (NYSE:C - Get Free Report) last announced its earnings results on Tuesday, July 15th. The company reported $1.96 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 firm had revenue of $21.67 billion for the quarter, compared to analysts' expectations of $20.75 billion. During the same quarter in the previous year, the business posted $1.52 EPS. The company's quarterly revenue was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. On average, equities analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced 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 a boost from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date was Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. Citigroup's dividend payout ratio (DPR) 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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