Novem Group Acquires Shares of 3,424 Citigroup Inc. $C

Key Points

• Novem Group acquired 3,424 shares of Citigroup Inc., valued at approximately $291,000, during the 2nd quarter.
• Analysts have set a consensus rating of “Moderate Buy” for Citigroup, with an average target price of $98.11.
• Citigroup recently announced a quarterly dividend boost from $0.56 to $0.60 per share, resulting in an annualized yield of 2.3%.

Novem Group acquired a new stake in shares of Citigroup Inc. (NYSE:C - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 3,424 shares of the company's stock, valued at approximately $291,000.

Other large investors have also bought and sold shares of the company. MorganRosel Wealth Management LLC bought a new stake in Citigroup during the 1st quarter valued at approximately $28,000. American National Bank & Trust bought a new stake in Citigroup during the 1st quarter valued at approximately $29,000. Accent Capital Management LLC boosted its position 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. Truvestments Capital LLC boosted its position 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. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of Citigroup in the 4th quarter worth approximately $34,000. 71.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on C shares. UBS Group reissued a "neutral" rating and issued a $89.00 price target on shares of Citigroup in a research report on Tuesday, July 15th. Morgan Stanley boosted their price target on Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Evercore ISI set a $77.00 price target on Citigroup in a research report on Monday, July 7th. Zacks Research cut Citigroup from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 15th. Finally, Bank of America boosted their price target on Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $98.11.

Citigroup Price Performance

Shares of NYSE C opened at $103.41 on Friday. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $105.59. The firm has a market cap of $190.37 billion, a P/E ratio of 15.27, a PEG ratio of 0.89 and a beta of 1.41. The company has a 50 day moving average of $96.30 and a 200 day moving average of $81.93. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data 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 net margin of 8.44% and a return on equity of 7.29%. The company had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. During the same period in the previous year, the business earned $1.52 EPS. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. As a group, research analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were paid a dividend of $0.60 per share. The ex-dividend date was Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a yield of 2.3%. This is a boost from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio (DPR) is presently 35.45%.

Insiders Place Their Bets

In other Citigroup 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.08% of the company's stock.

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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