Sunpointe LLC Invests $251,000 in Citigroup Inc. $C

Key Points

• Sunpointe LLC has made a new investment in Citigroup Inc., acquiring 2,944 shares valued at approximately $251,000.
• Citigroup recently reported $1.96 EPS for its latest quarter, beating the consensus estimate by $0.35, with revenues of $21.67 billion.
• The company announced a quarterly dividend increase to $0.60 per share, reflecting a 2.4% yield for shareholders.

Sunpointe LLC purchased a new stake in Citigroup Inc. (NYSE:C - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,944 shares of the company's stock, valued at approximately $251,000.

Other large investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Citigroup by 6.6% in the 1st 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 last quarter. Northern Trust Corp lifted its holdings in Citigroup by 1.0% in the 1st quarter. Northern Trust Corp now owns 20,427,563 shares of the company's stock worth $1,450,153,000 after purchasing an additional 195,013 shares during the last quarter. Invesco Ltd. lifted its holdings in Citigroup by 3.6% in the 1st quarter. Invesco Ltd. now owns 16,839,915 shares of the company's stock worth $1,195,466,000 after purchasing an additional 592,820 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Citigroup by 179.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock worth $1,031,790,000 after purchasing an additional 9,334,038 shares during the last quarter. Finally, Amundi lifted its holdings in Citigroup by 78.4% in the 1st quarter. Amundi now owns 13,713,517 shares of the company's stock worth $973,523,000 after purchasing an additional 6,026,268 shares during the last quarter. Institutional investors own 71.72% of the company's stock.

Wall Street Analysts Forecast Growth

C has been the subject of several analyst reports. Morgan Stanley boosted their target price on Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Barclays upped their price target on Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods reiterated a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. TD Cowen upped their price target on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a report on Wednesday, July 16th. Finally, Dbs Bank upgraded Citigroup from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Citigroup presently has an average rating of "Moderate Buy" and a consensus target price of $97.68.

Citigroup Stock Performance

Shares of NYSE C traded up $0.23 during trading hours on Friday, reaching $102.64. The stock had a trading volume of 24,743,060 shares, compared to its average volume of 15,507,279. The business's fifty day moving average is $94.81 and its two-hundred day moving average is $80.48. 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 company has a market cap of $188.95 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 0.87 and a beta of 1.41. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $103.13.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating 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 analyst estimates of $20.75 billion. During the same period in the prior year, the company posted $1.52 earnings per share. Citigroup's revenue was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. As a group, research analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 4th were given a dividend of $0.60 per share. This is an increase from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date was Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.3%. Citigroup's dividend payout ratio is 35.45%.

Insider Activity

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

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.