Citigroup Inc. $C Shares Bought by Summit Financial LLC

Key Points

• Summit Financial LLC increased its stake in Citigroup Inc. by 44.9% during the first quarter, holding a total of 21,627 shares valued at approximately $1.54 million.
• Several institutional investors, including Orion Capital Management and MorganRosel Wealth Management, have recently acquired new positions in Citigroup, reflecting strong institutional interest with 71.72% of the company's stock owned by such investors.
• Citigroup reported earnings of $1.96 per share for the last quarter, exceeding analysts' expectations of $1.61, alongside a revenue of $21.67 billion, up 8.2% from the previous year.

Summit Financial LLC boosted its stake in Citigroup Inc. (NYSE:C - Free Report) by 44.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,627 shares of the company's stock after purchasing an additional 6,701 shares during the quarter. Summit Financial LLC's holdings in Citigroup were worth $1,535,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. United Asset Strategies Inc. acquired a new stake in Citigroup in the first quarter worth $9,276,000. Kaufman Rossin Wealth LLC acquired a new stake in Citigroup in the first quarter worth $505,000. Price T Rowe Associates Inc. MD grew its holdings 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 worth $2,917,794,000 after purchasing an additional 2,539,769 shares during the period. Candriam S.C.A. grew its holdings in Citigroup by 8.9% in the first quarter. Candriam S.C.A. now owns 218,775 shares of the company's stock worth $15,531,000 after purchasing an additional 17,915 shares during the period. Finally, Banco BTG Pactual S.A. grew its holdings in shares of Citigroup by 167.1% during the first quarter. Banco BTG Pactual S.A. now owns 80,126 shares of the company's stock valued at $5,688,000 after buying an additional 50,126 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Barclays lifted their price objective on shares of Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Evercore ISI set a $77.00 price objective on shares of Citigroup in a research note on Monday, July 7th. The Goldman Sachs Group boosted their price objective on shares of Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Piper Sandler boosted their price objective on shares of Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Finally, Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $96.54.

Insider Activity at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction 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 owned 2,140 shares in the company, valued at $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 is available at this hyperlink. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Stock Performance

Shares of NYSE C traded up $1.26 during midday trading on Wednesday, reaching $96.98. 10,593,404 shares of the stock were exchanged, compared to its average volume of 15,680,244. The firm has a market cap of $178.52 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 0.82 and a beta of 1.38. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $97.45. The firm has a 50-day simple moving average of $90.12 and a two-hundred day simple moving average of $78.49. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61.

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

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were issued a dividend of $0.60 per share. The ex-dividend date was Monday, August 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.5%. This is a boost from Citigroup's previous quarterly dividend of $0.56. Citigroup's payout ratio is presently 35.45%.

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.