NorthRock Partners LLC Has $1.69 Million Stock Position in Citigroup Inc. $C

Key Points

• NorthRock Partners LLC increased its stake in Citigroup Inc. by 60.9% in the second quarter, owning 19,837 shares valued at approximately $1.69 million.
• Several institutional investors, including Goldman Sachs and Amundi, have significantly boosted their positions in Citigroup, reflecting heightened market interest.
• Citigroup announced a quarterly dividend of $0.60 per share, scheduled for payment on November 26th, providing a yield of 2.5% for investors.

NorthRock Partners LLC lifted its stake in Citigroup Inc. (NYSE:C - Free Report) by 60.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,837 shares of the company's stock after purchasing an additional 7,506 shares during the quarter. NorthRock Partners LLC's holdings in Citigroup were worth $1,688,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of C. Goldman Sachs Group Inc. boosted its position in shares of Citigroup by 179.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock valued at $1,031,790,000 after purchasing an additional 9,334,038 shares during the period. Nuveen LLC purchased a new stake in Citigroup in the 1st quarter worth about $578,100,000. Amundi lifted its stake in Citigroup by 78.4% in the 1st 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. Price T Rowe Associates Inc. MD lifted its stake in Citigroup by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company's stock worth $2,917,794,000 after acquiring an additional 2,539,769 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG lifted its stake in Citigroup by 2,230.8% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 2,630,308 shares of the company's stock worth $186,726,000 after acquiring an additional 2,517,459 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.

Insiders Place Their Bets

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 stock was 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.08% of the company's stock.

Citigroup Stock Up 2.4%

C opened at $96.18 on Tuesday. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $105.59. The business has a 50-day moving average of $97.09 and a 200-day moving average of $84.05. 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 $177.05 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 0.83 and a beta of 1.37.

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

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 3rd will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, November 3rd. Citigroup's payout ratio is 35.45%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Evercore ISI set a $77.00 price objective on Citigroup in a research note on Monday, July 7th. Bank of America increased their price objective on Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Barclays increased their price objective on Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. TD Cowen increased their price objective on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research note on Wednesday, July 16th. Finally, The Goldman Sachs Group raised their price target on Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Eleven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $99.68.

Citigroup Company Profile

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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