SCS Capital Management LLC Takes $299,000 Position in Citigroup Inc. $C

Key Points

• SCS Capital Management LLC has acquired a new stake in Citigroup Inc. during the 1st quarter, purchasing 4,209 shares valued at approximately $299,000.
• Citigroup recently reported earnings of $1.96 per share for the previous quarter, exceeding analyst expectations and demonstrating a 8.2% increase in revenue compared to the same period last year.
• The company announced an increase in its quarterly dividend to $0.60 per share, reflecting a boost from the previous dividend of $0.56 and offering a 2.4% yield for investors.

SCS Capital Management LLC acquired a new stake in shares of Citigroup Inc. (NYSE:C - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 4,209 shares of the company's stock, valued at approximately $299,000.

Other institutional investors have also modified their holdings of the company. Orion Capital Management LLC bought a new position in shares of Citigroup during the 4th quarter valued at about $28,000. MorganRosel Wealth Management LLC acquired a new stake in Citigroup in the 1st quarter valued at approximately $28,000. Accent Capital Management LLC raised its position in Citigroup by 106.0% in the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company's stock valued at $29,000 after buying an additional 212 shares during the last quarter. American National Bank & Trust acquired a new stake in Citigroup in the 1st quarter valued at approximately $29,000. Finally, Truvestments Capital LLC raised its position in Citigroup by 131.6% in the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company's stock valued at $31,000 after buying an additional 246 shares during the last quarter. Institutional investors own 71.72% of the company's stock.

Citigroup Stock Up 1.7%

C stock opened at $98.79 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $181.86 billion, a PE ratio of 14.59, a PEG ratio of 0.83 and a beta of 1.41. Citigroup Inc. has a 1-year low of $55.51 and a 1-year high of $99.04. The business's 50 day simple moving average is $93.41 and its 200 day simple moving average is $79.72.

Citigroup (NYSE:C - Get Free Report) last posted its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. The business had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The firm's revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 4th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, August 4th. This is a boost from Citigroup's previous quarterly dividend of $0.56. Citigroup's payout ratio is presently 35.45%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on C shares. Bank of America lifted their target price on Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. TD Cowen boosted their price target on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday, July 16th. UBS Group reissued a "neutral" rating and issued a $89.00 price objective on shares of Citigroup in a report on Tuesday, July 15th. Oppenheimer raised their target price on shares of Citigroup from $123.00 to $124.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, Wells Fargo & Company raised their target price on shares of Citigroup from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $96.96.

Insider Buying and Selling at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the transaction, the director directly owned 2,140 shares of the company's stock, valued at approximately $193,456. The trade was a 58.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.08% of the company's stock.

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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