Sagespring Wealth Partners LLC Increases Position in Citigroup Inc. $C

Key Points

• Sagespring Wealth Partners LLC increased its stake in Citigroup by 27.6% during Q2, owning a total of 24,080 shares valued at $2,050,000.
• Citigroup reported earnings of $1.86 per share, slightly missing estimates, but its revenue was up 9.3% year-over-year, totaling $22.09 billion.
• The firm declared a $0.60 quarterly dividend to be paid on November 26th, which translates to an annual yield of 2.4%.

Sagespring Wealth Partners LLC boosted its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 27.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,080 shares of the company's stock after purchasing an additional 5,203 shares during the quarter. Sagespring Wealth Partners LLC's holdings in Citigroup were worth $2,050,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in Citigroup by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company's stock valued at $2,917,794,000 after purchasing an additional 2,539,769 shares during the period. Northern Trust Corp grew its holdings in Citigroup by 1.0% in the first quarter. Northern Trust Corp now owns 20,427,563 shares of the company's stock valued at $1,450,153,000 after purchasing an additional 195,013 shares during the period. Invesco Ltd. grew its holdings in Citigroup by 3.6% in the first quarter. Invesco Ltd. now owns 16,839,915 shares of the company's stock valued at $1,195,466,000 after purchasing an additional 592,820 shares during the period. Goldman Sachs Group Inc. grew its holdings in Citigroup by 179.5% in the first quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock valued at $1,031,790,000 after purchasing an additional 9,334,038 shares during the period. Finally, Amundi grew its holdings in Citigroup by 78.4% in the first quarter. Amundi now owns 13,713,517 shares of the company's stock valued at $973,523,000 after purchasing an additional 6,026,268 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Stock Up 3.9%

Shares of Citigroup stock opened at $99.83 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $105.59. The company has a market capitalization of $183.78 billion, a P/E ratio of 14.75, a P/E/G ratio of 0.84 and a beta of 1.37. The company has a 50 day moving average of $97.25 and a 200 day moving average of $84.16.

Citigroup (NYSE:C - Get Free Report) last announced 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). The firm had revenue of $22.09 billion during the quarter, compared to analyst estimates of $20.92 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. Citigroup's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.51 earnings per share. Citigroup has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

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

Wall Street Analyst Weigh In

C has been the topic of several research analyst reports. Piper Sandler raised their price objective on Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Wells Fargo & Company raised their price target on shares of Citigroup from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. TD Cowen raised their price target on shares of Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods restated a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. Finally, UBS Group restated a "neutral" rating and set a $89.00 price target on shares of Citigroup in a report on Tuesday, July 15th. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $101.25.

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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