Park Avenue Securities LLC Has $7.37 Million Holdings in Citigroup Inc. $C

Key Points

• Park Avenue Securities LLC increased its holdings in Citigroup Inc. by 15.7% in Q2, owning 86,529 shares valued at $7.37 million by the end of the reporting period.
• Citigroup's stock price saw a rise in analyst ratings, with Wells Fargo raising its target from $115.00 to $125.00, indicating positive investor sentiment towards the stock.
• The company also declared an increase in its quarterly dividend from $0.56 to $0.60 per share, reflecting a commitment to returning value to shareholders.

Park Avenue Securities LLC increased its holdings in Citigroup Inc. (NYSE:C - Free Report) by 15.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,529 shares of the company's stock after purchasing an additional 11,726 shares during the period. Park Avenue Securities LLC's holdings in Citigroup were worth $7,365,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of C. Private Advisory Group LLC increased its holdings in shares of Citigroup by 20.8% during the 1st quarter. Private Advisory Group LLC now owns 69,581 shares of the company's stock valued at $4,940,000 after acquiring an additional 11,978 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its position in Citigroup by 109.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company's stock worth $88,458,000 after purchasing an additional 649,807 shares during the period. Brighton Jones LLC grew its holdings in Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after purchasing an additional 12,499 shares during the last quarter. Onyx Bridge Wealth Group LLC bought a new position in shares of Citigroup in the first quarter valued at approximately $214,000. Finally, Pinnacle Financial Partners Inc lifted its stake in shares of Citigroup by 495.1% in the first quarter. Pinnacle Financial Partners Inc now owns 18,554 shares of the company's stock worth $1,317,000 after buying an additional 15,436 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

C has been the subject of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of Citigroup from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. Zacks Research downgraded Citigroup from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 15th. Evercore ISI set a $77.00 price objective on Citigroup in a research note on Monday, July 7th. TD Cowen boosted their price objective on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday, July 16th. Finally, Truist Financial increased their target price on Citigroup from $99.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Citigroup presently has a consensus rating of "Moderate Buy" and an average target price of $97.68.

Citigroup Price Performance

Citigroup stock opened at $102.64 on Monday. The business has a 50 day simple moving average of $95.12 and a 200 day simple moving average of $80.82. Citigroup Inc. has a one year low of $55.51 and a one year high of $103.13. The company has a market capitalization of $188.95 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 0.88 and a beta of 1.41. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99.

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

Citigroup Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Monday, August 4th. This represents a $2.40 annualized dividend and a yield of 2.3%. This is an increase from Citigroup's previous quarterly dividend of $0.56. Citigroup's payout ratio is 35.45%.

Insider Buying and Selling

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the company's stock in a transaction dated 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 directly owned 2,140 shares of the company's stock, valued at approximately $193,456. This represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is currently owned by company insiders.

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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