TrueMark Investments LLC Purchases 16,470 Shares of Citigroup Inc. $C

Key Points

• TrueMark Investments LLC increased its stake in Citigroup by 21.0%, acquiring an additional 16,470 shares during the second quarter, bringing its total holdings to 94,775 shares valued at approximately $8.07 million.
• Recent analyst reports indicate that Citigroup has a consensus rating of "Moderate Buy," with a target price averaging around $107.63, while Cowen set a price objective of $110.00.
• Citigroup's quarterly earnings missed estimates, reporting $1.86 earnings per share against a consensus of $1.89, despite a 9.3% revenue increase to $22.09 billion year-over-year.

TrueMark Investments LLC lifted its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 21.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 94,775 shares of the company's stock after purchasing an additional 16,470 shares during the quarter. Citigroup comprises 1.7% of TrueMark Investments LLC's portfolio, making the stock its 8th largest position. TrueMark Investments LLC's holdings in Citigroup were worth $8,067,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Secure Asset Management LLC raised its position in shares of Citigroup by 3.7% during the 2nd quarter. Secure Asset Management LLC now owns 3,290 shares of the company's stock worth $280,000 after purchasing an additional 118 shares during the period. Golden State Equity Partners raised its position in shares of Citigroup by 0.6% during the 2nd quarter. Golden State Equity Partners now owns 21,634 shares of the company's stock worth $1,842,000 after purchasing an additional 122 shares during the period. Wedmont Private Capital raised its position in shares of Citigroup by 0.5% during the 2nd quarter. Wedmont Private Capital now owns 23,706 shares of the company's stock worth $2,034,000 after purchasing an additional 129 shares during the period. RDA Financial Network raised its position in shares of Citigroup by 3.4% during the 2nd quarter. RDA Financial Network now owns 3,940 shares of the company's stock worth $335,000 after purchasing an additional 130 shares during the period. Finally, Richardson Financial Services Inc. raised its position in shares of Citigroup by 6.1% during the 2nd quarter. Richardson Financial Services Inc. now owns 2,270 shares of the company's stock worth $196,000 after purchasing an additional 130 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

C has been the subject of a number of recent analyst reports. Cowen reissued a "hold" rating and issued a $110.00 price objective on shares of Citigroup in a report on Wednesday. Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Weiss Ratings reissued a "buy (b)" rating on shares of Citigroup in a report on Wednesday, October 8th. Dbs Bank lowered Citigroup from a "moderate buy" rating to a "hold" rating in a report on Monday, September 22nd. Finally, Morgan Stanley increased their price objective on Citigroup from $129.00 to $134.00 and gave the stock an "overweight" rating in a report on Wednesday. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $107.63.

Citigroup Stock Performance

Shares of NYSE C opened at $97.10 on Friday. The stock has a fifty day moving average price of $97.59 and a two-hundred day moving average price of $84.71. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $178.75 billion, a P/E ratio of 13.64, a PEG ratio of 0.82 and a beta of 1.37. Citigroup Inc. has a 1 year low of $55.51 and a 1 year high of $105.59.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings results on Tuesday, October 14th. The company reported $1.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.89 by ($0.03). The firm had revenue of $22.09 billion for the quarter, compared to the consensus estimate of $20.92 billion. Citigroup had a net margin of 8.73% and a return on equity of 7.91%. The business's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.51 earnings per share. Citigroup has set its FY 2025 guidance at EPS. Research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 3rd will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $2.40 annualized dividend and a dividend yield of 2.5%. Citigroup's dividend payout ratio (DPR) is currently 33.71%.

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.

Want to see what other hedge funds are holding C? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citigroup Inc. (NYSE:C - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.