Ritholtz Wealth Management Increases Holdings in Citigroup Inc. $C

Key Points

• Ritholtz Wealth Management increased its holdings in Citigroup by 27.7%, now owning 90,470 shares valued at $7.7 million as of the end of the most recent quarter.
• Citigroup's recent quarterly earnings report showed earnings per share of $1.86, slightly missing analysts' expectations, but its revenue increased by 9.3% year-over-year.
• Wells Fargo raised its price target for Citigroup from $115 to $125, with the stock currently holding a consensus rating of "Moderate Buy."

Ritholtz Wealth Management lifted its holdings in Citigroup Inc. (NYSE:C - Free Report) by 27.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,470 shares of the company's stock after acquiring an additional 19,619 shares during the period. Ritholtz Wealth Management's holdings in Citigroup were worth $7,701,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Private Advisory Group LLC lifted its position in Citigroup by 20.8% in the first quarter. Private Advisory Group LLC now owns 69,581 shares of the company's stock worth $4,940,000 after buying an additional 11,978 shares during the last quarter. Brighton Jones LLC increased 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 last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of Citigroup by 109.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company's stock valued at $88,458,000 after acquiring an additional 649,807 shares during the period. Onyx Bridge Wealth Group LLC bought a new stake in shares of Citigroup in the 1st quarter worth about $214,000. Finally, Hayek Kallen Investment Management boosted its stake in shares of Citigroup by 125.0% during the 1st quarter. Hayek Kallen Investment Management now owns 15,534 shares of the company's stock worth $1,103,000 after purchasing an additional 8,630 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on C. Wells Fargo & Company increased their price target on Citigroup from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. Oppenheimer reduced their target price on Citigroup from $124.00 to $123.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 23rd. Wall Street Zen upgraded Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. TD Cowen boosted their target price on shares of Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a research note on Wednesday, July 16th. Finally, Barclays raised their price target on shares of Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Eleven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.25.

Citigroup Price Performance

C opened at $99.83 on Wednesday. The company has a market capitalization of $183.78 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 0.84 and a beta of 1.37. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $105.59. The business's fifty day simple moving average is $97.25 and its 200-day simple moving average is $84.16.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, October 14th. The company reported $1.86 earnings per share for the quarter, missing analysts' consensus estimates of $1.89 by ($0.03). Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The business had revenue of $22.09 billion during the quarter, compared to analysts' expectations of $20.92 billion. During the same period last year, the company earned $1.51 earnings per share. The firm's revenue was up 9.3% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 3rd will be paid a dividend of $0.60 per share. The ex-dividend date is Monday, November 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. Citigroup's dividend payout ratio (DPR) is currently 35.45%.

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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