Citigroup Inc. $C Shares Purchased by Roanoke Asset Management Corp NY

Key Points

• Roanoke Asset Management Corp NY increased its holdings in Citigroup by 32.3%, acquiring an additional 18,049 shares, bringing its total to 73,871 shares worth approximately $5.24 million.
• In the recent quarter, Citigroup reported earnings of $1.96 per share, surpassing expectations and demonstrating an 8.2% increase in revenue year-over-year.
• Citigroup's dividend has been increased to $0.60 per share, reflecting a yield of 2.6% and a payout ratio of 35.45%.

Roanoke Asset Management Corp NY increased its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 32.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 73,871 shares of the company's stock after buying an additional 18,049 shares during the period. Citigroup accounts for 1.8% of Roanoke Asset Management Corp NY's holdings, making the stock its 20th biggest position. Roanoke Asset Management Corp NY's holdings in Citigroup were worth $5,244,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Orion Capital Management LLC purchased a new stake in Citigroup during the fourth quarter worth $28,000. MorganRosel Wealth Management LLC acquired a new position in Citigroup during the first quarter worth $28,000. Accent Capital Management LLC raised its position in Citigroup by 106.0% during the first quarter. Accent Capital Management LLC now owns 412 shares of the company's stock worth $29,000 after acquiring an additional 212 shares during the period. American National Bank & Trust acquired a new position in Citigroup during the first quarter worth $29,000. Finally, Mascagni Wealth Management Inc. acquired a new position in Citigroup during the fourth quarter worth $34,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods restated a "buy" rating on shares of Citigroup in a research report on Wednesday, July 16th. Oppenheimer raised their price objective on shares of Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Dbs Bank upgraded shares of Citigroup from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Wall Street Zen upgraded shares of Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Finally, Evercore ISI set a $77.00 price objective on shares of Citigroup in a research note on Monday, July 7th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, Citigroup currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.54.

Insider Transactions at Citigroup

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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.08% of the company's stock.

Citigroup Stock Performance

Shares of Citigroup stock traded down $0.5720 during trading on Tuesday, reaching $93.6480. The company's stock had a trading volume of 11,502,259 shares, compared to its average volume of 14,895,355. The company has a 50-day moving average price of $88.15 and a two-hundred day moving average price of $77.90. The firm has a market cap of $172.40 billion, a PE ratio of 13.92, a P/E/G ratio of 0.81 and a beta of 1.38. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $96.90. 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 (NYSE:C - Get Free Report) last announced its earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. The business had revenue of $21.67 billion for the quarter, compared to analysts' expectations of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company's quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. On average, analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, August 4th. This represents a $2.40 annualized dividend and a yield of 2.6%. This is an increase from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio is presently 35.45%.

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.