tru Independence LLC Takes $5.30 Million Position in Citigroup Inc. $C

Key Points

• tru Independence LLC acquired a $5.30 million stake in Citigroup Inc., purchasing 62,295 shares, which makes up about 1.5% of its portfolio.
• Citigroup recently boosted its quarterly dividend to $0.60, reflecting an annualized rate of $2.40 and a yield of 2.3%.
• The company reported quarterly earnings of $1.96 per share, exceeding analyst expectations and showing a revenue increase of 8.2% year-over-year.

tru Independence LLC acquired a new stake in Citigroup Inc. (NYSE:C - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 62,295 shares of the company's stock, valued at approximately $5,303,000. Citigroup makes up about 1.5% of tru Independence LLC's portfolio, making the stock its 22nd largest holding.

Several other hedge funds have also modified their holdings of the stock. Accurate Wealth Management LLC raised its stake in shares of Citigroup by 9.3% in the second quarter. Accurate Wealth Management LLC now owns 21,247 shares of the company's stock valued at $1,850,000 after acquiring an additional 1,805 shares in the last quarter. Sheets Smith Wealth Management purchased a new position in Citigroup in the second quarter valued at $783,000. Waycross Partners LLC increased its holdings in Citigroup by 5.2% in the second quarter. Waycross Partners LLC now owns 404,330 shares of the company's stock valued at $34,417,000 after buying an additional 19,872 shares during the last quarter. Unified Investment Management increased its holdings in Citigroup by 2.6% in the second quarter. Unified Investment Management now owns 6,896 shares of the company's stock valued at $587,000 after buying an additional 174 shares during the last quarter. Finally, Focused Wealth Management Inc increased its holdings in Citigroup by 9.9% in the second quarter. Focused Wealth Management Inc now owns 50,495 shares of the company's stock valued at $4,298,000 after buying an additional 4,555 shares during the last quarter. 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 the company's 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 transaction, the director directly owned 2,140 shares in the company, valued at approximately $193,456. This represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.08% of the company's stock.

Citigroup Price Performance

Shares of C opened at $103.01 on Wednesday. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $105.59. The stock's 50 day moving average is $95.69 and its two-hundred day moving average is $81.20. The firm has a market capitalization of $189.63 billion, a PE ratio of 15.22, a P/E/G 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 (NYSE:C - Get Free Report) last announced 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 return on equity of 7.29% and a net margin of 8.44%.The company had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same quarter in the previous year, the company earned $1.52 EPS. The firm'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. Research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a yield of 2.3%. This is a boost from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio is presently 35.45%.

Wall Street Analyst Weigh In

C has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on Citigroup from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Dbs Bank raised Citigroup from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. The Goldman Sachs Group increased their target price on Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Zacks Research lowered Citigroup from a "strong-buy" rating to a "hold" rating in a report on Monday, September 15th. Finally, Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $97.61.

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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