Spartan Planning & Wealth Management Invests $325,000 in Citigroup Inc. $C

Key Points

• Spartan Planning & Wealth Management invested approximately $325,000 in 3,815 shares of Citigroup Inc. in Q2, indicating a strong belief in the company's future prospects.
• Citigroup reported $1.96 earnings per share for the quarter, exceeding analysts' expectations of $1.61, reflecting a solid revenue growth of 8.2% year-over-year.
• The company's quarterly dividend was raised to $0.60 per share, up from $0.56, resulting in an annualized dividend yield of 2.3%.

Spartan Planning & Wealth Management purchased a new position in shares of Citigroup Inc. (NYSE:C - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,815 shares of the company's stock, valued at approximately $325,000.

A number of other hedge funds have also made changes to their positions in the stock. MorganRosel Wealth Management LLC acquired a new position in Citigroup in the first quarter worth $28,000. American National Bank & Trust acquired a new position in Citigroup in the first quarter worth $29,000. Accent Capital Management LLC boosted its holdings in Citigroup by 106.0% in the first quarter. Accent Capital Management LLC now owns 412 shares of the company's stock worth $29,000 after purchasing an additional 212 shares during the period. Truvestments Capital LLC boosted its holdings in Citigroup by 131.6% in the first quarter. Truvestments Capital LLC now owns 433 shares of the company's stock worth $31,000 after purchasing an additional 246 shares during the period. Finally, HHM Wealth Advisors LLC boosted its holdings in Citigroup by 805.2% in the first quarter. HHM Wealth Advisors LLC now owns 525 shares of the company's stock worth $37,000 after purchasing an additional 467 shares during the period. Institutional investors and hedge funds own 71.72% of the company's stock.

Citigroup Price Performance

Shares of NYSE C opened at $103.11 on Tuesday. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $105.59. The firm's 50-day simple moving average is $96.52 and its 200 day simple moving average is $82.27. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. The stock has a market cap of $189.82 billion, a P/E ratio of 15.23, a P/E/G ratio of 0.89 and a beta of 1.41.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $20.75 billion. During the same period in the previous year, the business earned $1.52 earnings per share. The company's revenue was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. Equities analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors 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 dividend yield of 2.3%. The ex-dividend date was Monday, August 4th. Citigroup's dividend payout ratio (DPR) is presently 35.45%.

Insider Buying and Selling at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction dated 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on C. Keefe, Bruyette & Woods reaffirmed a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. Piper Sandler raised their target price on Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Evercore ISI set a $77.00 target price on Citigroup in a research note on Monday, July 7th. UBS Group reiterated a "neutral" rating and issued a $89.00 target price on shares of Citigroup in a research note on Tuesday, July 15th. Finally, TD Cowen raised their target price on Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a research note on Wednesday, July 16th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Citigroup has an average rating of "Moderate Buy" and an average target price of $99.68.

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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