Sheets Smith Wealth Management Buys Shares of 9,200 Citigroup Inc. $C

Key Points

• Sheets Smith Wealth Management has acquired a new stake in Citigroup Inc., purchasing 9,200 shares valued at approximately $783,000.
• Citigroup recently increased its quarterly dividend from $0.56 to $0.60 per share, reflecting an annualized yield of 2.4%.
• The company reported earnings per share (EPS) of $1.96 for the last quarter, exceeding the consensus estimate by $0.35, with revenues up 8.2% year-over-year.

Sheets Smith Wealth Management bought a new stake in Citigroup Inc. (NYSE:C - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,200 shares of the company's stock, valued at approximately $783,000.

A number of other institutional investors have also recently added to or reduced their stakes in C. Goldman Sachs Group Inc. lifted its stake 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 acquiring an additional 9,334,038 shares during the last quarter. Nuveen LLC acquired a new stake in Citigroup in the first quarter valued at approximately $578,100,000. Amundi lifted its stake 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 acquiring an additional 6,026,268 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake 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 acquiring an additional 2,539,769 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG raised its position in shares of Citigroup by 2,230.8% in the first quarter. B. Metzler seel. Sohn & Co. AG now owns 2,630,308 shares of the company's stock valued at $186,726,000 after purchasing an additional 2,517,459 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of Citigroup 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 owned 2,140 shares in the company, valued at $193,456. The trade was a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.08% of the stock is owned by corporate insiders.

Citigroup Trading Down 1.3%

Shares of Citigroup stock opened at $101.67 on Thursday. The company's fifty day simple moving average is $95.93 and its 200-day simple moving average is $81.34. The company has a market cap of $187.16 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 0.89 and a beta of 1.41. 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 1 year low of $55.51 and a 1 year high of $105.59.

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

Citigroup Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on C shares. Keefe, Bruyette & Woods reissued a "buy" rating on shares of Citigroup in a research report on Wednesday, July 16th. Piper Sandler lifted their price target on shares of Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Dbs Bank raised shares of Citigroup from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Oppenheimer dropped their price target on shares of Citigroup from $124.00 to $123.00 and set an "outperform" rating on the stock in a research report on Tuesday. Finally, Bank of America lifted their price target on shares of Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $98.11.

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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