Sound Income Strategies LLC Has $32.88 Million Stock Holdings in Citigroup Inc. $C

Key Points

• Sound Income Strategies LLC increased its holdings in Citigroup Inc. by 5.7%, owning 386,282 shares worth $32.88 million, making it the firm's 12th largest position.
• Citigroup reported earnings per share (EPS) of $1.96 for the last quarter, surpassing analyst expectations of $1.61, and its revenue was up 8.2% year-over-year.
• The company announced a quarterly dividend of $0.60, raising its annualized dividend to $2.40 and yielding 2.3%.

Sound Income Strategies LLC increased its position in Citigroup Inc. (NYSE:C - Free Report) by 5.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 386,282 shares of the company's stock after purchasing an additional 20,668 shares during the quarter. Citigroup makes up 1.9% of Sound Income Strategies LLC's portfolio, making the stock its 12th biggest position. Sound Income Strategies LLC's holdings in Citigroup were worth $32,880,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in C. Goldman Sachs Group Inc. grew its position in shares of Citigroup by 179.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock worth $1,031,790,000 after buying an additional 9,334,038 shares during the period. Nuveen LLC bought a new position in Citigroup in the first quarter valued at approximately $578,100,000. Amundi grew its holdings in Citigroup by 78.4% during the 1st quarter. Amundi now owns 13,713,517 shares of the company's stock worth $973,523,000 after acquiring an additional 6,026,268 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Citigroup by 6.6% during the 1st 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% during the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 2,630,308 shares of the company's stock valued at $186,726,000 after acquiring an additional 2,517,459 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Citigroup Trading Up 1.3%

NYSE C opened at $103.41 on Monday. Citigroup Inc. has a one year low of $55.51 and a one year high of $105.59. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap of $190.37 billion, a P/E ratio of 15.27, a P/E/G ratio of 0.89 and a beta of 1.41. The stock's 50-day moving average is $96.30 and its 200-day moving average is $82.03.

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

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 4th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.3%. 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 dividend payout ratio (DPR) is currently 35.45%.

Analysts Set New Price Targets

Several research firms have recently issued reports on C. TD Cowen raised 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. Zacks Research lowered Citigroup from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 15th. Truist Financial boosted their target price on Citigroup from $105.00 to $112.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Piper Sandler upped their price target on Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Finally, UBS Group reissued a "neutral" rating and set a $89.00 price objective on shares of Citigroup in a research note on Tuesday, July 15th. Ten investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $98.11.

Insider Transactions at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of Citigroup 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 sale, the director owned 2,140 shares of the company's stock, valued at $193,456. This trade represents a 58.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.08% of the company's stock.

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.

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