Ramirez Asset Management Inc. Has $1.94 Million Stake in Citigroup Inc. $C

Key Points

• Ramirez Asset Management Inc. increased its stake in Citigroup Inc. by 177.3%, owning 22,835 shares worth approximately $1.94 million after purchasing an additional 14,600 shares in the second quarter.
• Citigroup has received a mixture of ratings from analysts, with a target price range of $77.00 to $95.00, indicating an overall average rating of "Moderate Buy."
• The company recently declared a quarterly dividend of $0.60 per share, raising it from $0.56, which reflects a 2.5% dividend yield.

Ramirez Asset Management Inc. boosted its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 177.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,835 shares of the company's stock after purchasing an additional 14,600 shares during the period. Ramirez Asset Management Inc.'s holdings in Citigroup were worth $1,944,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Secure Asset Management LLC boosted its holdings in shares of Citigroup by 3.7% during the second quarter. Secure Asset Management LLC now owns 3,290 shares of the company's stock worth $280,000 after acquiring an additional 118 shares during the period. Golden State Equity Partners boosted its holdings in shares of Citigroup by 0.6% during the second quarter. Golden State Equity Partners now owns 21,634 shares of the company's stock worth $1,842,000 after acquiring an additional 122 shares during the period. Wedmont Private Capital boosted its holdings in shares of Citigroup by 0.5% during the second quarter. Wedmont Private Capital now owns 23,706 shares of the company's stock worth $2,034,000 after acquiring an additional 129 shares during the period. RDA Financial Network boosted its stake in shares of Citigroup by 3.4% in the second quarter. RDA Financial Network now owns 3,940 shares of the company's stock valued at $335,000 after buying an additional 130 shares during the period. Finally, DMKC Advisory Services LLC boosted its stake in shares of Citigroup by 0.7% in the second quarter. DMKC Advisory Services LLC now owns 19,838 shares of the company's stock valued at $1,847,000 after buying an additional 131 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

C has been the subject of several recent research reports. TD Cowen boosted their price target on Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a research note on Wednesday, July 16th. Wall Street Zen upgraded Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Evercore ISI set a $77.00 price target on Citigroup in a research note on Monday, July 7th. Zacks Research cut Citigroup from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 15th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Citigroup in a research note on Wednesday. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $99.68.

Citigroup Stock Down 0.9%

Shares of C opened at $95.85 on Friday. Citigroup Inc. has a one year low of $55.51 and a one year high of $105.59. The company has a market cap of $176.45 billion, a P/E ratio of 14.16, a P/E/G ratio of 0.84 and a beta of 1.37. 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 firm has a 50 day simple moving average of $96.96 and a two-hundred day simple moving average of $83.58.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.52 earnings per share. 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 business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.5%. This is a boost from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date was Monday, August 4th. Citigroup's dividend payout ratio (DPR) is currently 35.45%.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of the company'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 transaction, the director directly owned 2,140 shares in the company, 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 is accessible through the SEC website. Company insiders own 0.08% of the company's stock.

Citigroup 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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