Patton Fund Management Inc. Takes $274,000 Position in Citigroup Inc. $C

Key Points

• Patton Fund Management Inc. has acquired a new stake in Citigroup Inc., purchasing 3,218 shares valued at approximately $274,000 in the second quarter.
• Citigroup recently reported a quarterly EPS of $1.96, surpassing estimates, with a revenue increase of 8.2% year-over-year.
• The company declared a quarterly dividend of $0.60, reflecting an increase from the previous quarter's dividend and representing a 2.3% yield.

Patton Fund Management Inc. acquired a new stake in Citigroup Inc. (NYSE:C - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,218 shares of the company's stock, valued at approximately $274,000.

A number of other institutional investors have also recently added to or reduced their stakes in C. Brighton Jones LLC grew its position 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 acquiring an additional 12,499 shares during the period. Mascagni Wealth Management Inc. purchased a new stake in Citigroup during the fourth quarter valued at about $34,000. MassMutual Private Wealth & Trust FSB grew its position in Citigroup by 7.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 9,006 shares of the company's stock valued at $639,000 after acquiring an additional 601 shares during the period. First Hawaiian Bank grew its position in Citigroup by 6.6% during the first quarter. First Hawaiian Bank now owns 20,932 shares of the company's stock valued at $1,486,000 after acquiring an additional 1,302 shares during the period. Finally, Versant Capital Management Inc grew its position in Citigroup by 134.3% during the first quarter. Versant Capital Management Inc now owns 5,485 shares of the company's stock valued at $389,000 after acquiring an additional 3,144 shares during the period. Hedge funds and other institutional investors own 71.72% of the company's stock.

Citigroup Trading Up 1.3%

NYSE:C opened at $103.41 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup Inc. has a one year low of $55.51 and a one year high of $105.59. The business's 50-day simple moving average is $96.30 and its 200 day simple moving average is $81.93. The stock has a market cap of $190.37 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 0.89 and a beta of 1.41.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 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 business 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 firm posted $1.52 earnings per share. The company's revenue was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 4th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.3%. This is a positive change from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date was Monday, August 4th. Citigroup's payout ratio is presently 35.45%.

Insider Activity at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the transaction, the director owned 2,140 shares in the company, valued at approximately $193,456. The trade was a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.08% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Morgan Stanley boosted their price target on Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Truist Financial boosted their price target on Citigroup from $105.00 to $112.00 and gave the company a "buy" rating in a research report on Wednesday. Barclays boosted 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. Piper Sandler boosted their price objective on Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods restated a "buy" rating on shares of Citigroup in a research note on Wednesday, July 16th. Ten research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the 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 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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