Seamount Financial Group Inc. Purchases Shares of 4,680 Citigroup Inc. $C

Key Points

• Seamount Financial Group Inc. purchased 4,680 shares of Citigroup Inc., valued at approximately $398,000, during the second quarter.
• A range of institutional investors, including Brighton Jones LLC and Vest Financial LLC, have significantly increased their holdings in Citigroup, indicating growing investor confidence in the company.
• Citigroup recently increased its quarterly dividend from $0.56 to $0.60 per share, reflecting a positive change in its financial strategy.

Seamount Financial Group Inc. acquired a new position in shares of Citigroup Inc. (NYSE:C - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,680 shares of the company's stock, valued at approximately $398,000.

A number of other institutional investors have also recently bought and sold shares of C. Brighton Jones LLC boosted its holdings in shares of Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after purchasing an additional 12,499 shares during the last quarter. Vest Financial LLC raised its position in shares of Citigroup by 73.5% in the 1st quarter. Vest Financial LLC now owns 15,482 shares of the company's stock worth $1,099,000 after buying an additional 6,559 shares during the period. Wedmont Private Capital boosted its holdings in Citigroup by 35.6% in the first quarter. Wedmont Private Capital now owns 23,577 shares of the company's stock valued at $1,674,000 after acquiring an additional 6,188 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in Citigroup by 13.1% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 8,204 shares of the company's stock valued at $582,000 after acquiring an additional 950 shares during the last quarter. Finally, Park Avenue Securities LLC grew its position in Citigroup by 13.5% during the first quarter. Park Avenue Securities LLC now owns 74,803 shares of the company's stock valued at $5,310,000 after acquiring an additional 8,920 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the completion of the transaction, the director owned 2,140 shares of the company's stock, valued at approximately $193,456. This represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Piper Sandler raised their price objective on Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. The Goldman Sachs Group raised their price target on shares of Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Zacks Research downgraded shares of Citigroup from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 15th. Morgan Stanley increased their price objective on shares of Citigroup from $107.00 to $129.00 and gave the stock an "overweight" rating in a research report on Monday, September 29th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Citigroup in a report on Saturday, September 27th. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $99.68.

Citigroup Price Performance

Shares of C stock opened at $98.02 on Tuesday. The company has a market capitalization of $180.45 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 0.84 and a beta of 1.37. The firm has a fifty day simple moving average of $96.84 and a 200-day simple moving average of $83.23. 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 twelve month low of $55.51 and a twelve month high of $105.59.

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

Citigroup Increases Dividend

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

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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