McLean Asset Management Corp Invests $245,000 in Citigroup Inc. $C

Key Points

• McLean Asset Management Corp has invested approximately $245,000 in Citigroup Inc., acquiring 2,820 shares in the second quarter.
• Citigroup reported $1.96 earnings per share for the last quarter, surpassing the consensus estimate by $0.35, with revenues up 8.2% year over year.
• The company recently increased its quarterly dividend to $0.60 per share, reflecting a growing confidence in its financial stability.

McLean Asset Management Corp bought a new stake in Citigroup Inc. (NYSE:C - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,820 shares of the company's stock, valued at approximately $245,000.

Several other institutional investors have also recently added to or reduced their stakes in C. Orion Capital Management LLC acquired a new position in Citigroup in the fourth quarter valued at $28,000. MorganRosel Wealth Management LLC acquired a new position in Citigroup in the first quarter valued at $28,000. American National Bank & Trust acquired a new position in Citigroup in the first quarter valued at $29,000. Accent Capital Management LLC increased its stake in 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 last quarter. Finally, Truvestments Capital LLC increased its stake in 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 last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Performance

Shares of NYSE C opened at $99.51 on Friday. The firm has a market cap of $183.19 billion, a P/E ratio of 14.70, a PEG ratio of 0.85 and a beta of 1.41. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a fifty day moving average price of $93.63 and a two-hundred day moving average price of $79.86. Citigroup Inc. has a 1 year low of $55.51 and a 1 year high of $99.70.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.35. The business had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The company's revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company posted $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. Research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 4th were issued a dividend of $0.60 per share. This is a positive change from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Monday, August 4th. Citigroup's dividend payout ratio is 35.45%.

Insider Activity

In related news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction 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. This trade represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

C has been the subject of a number of research reports. Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Truist Financial boosted their price target on Citigroup from $99.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Evercore ISI set a $77.00 price target on Citigroup in a research report on Monday, July 7th. Piper Sandler boosted their price target on Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Finally, Dbs Bank raised Citigroup from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $96.96.

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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