Wealth Effects LLC Acquires 2,859 Shares of Citigroup Inc. $C

Key Points

• Wealth Effects LLC increased its holdings in Citigroup by 21.0% in the second quarter, owning a total of 16,459 shares worth approximately $1.4 million.
• Citigroup recently declared a quarterly dividend of $0.60 per share, reflecting an increase from the previous $0.56, with an annualized yield of 2.3%.
• Analysts are mixed on Citigroup, with ratings ranging from a "strong-buy" to "hold" and updated price targets between $89.00 and $107.00.

Wealth Effects LLC raised its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 21.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,459 shares of the company's stock after purchasing an additional 2,859 shares during the period. Wealth Effects LLC's holdings in Citigroup were worth $1,401,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Brighton Jones LLC boosted its holdings in Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after acquiring an additional 12,499 shares in the last quarter. State of Wyoming bought a new position in Citigroup in the fourth quarter worth about $145,000. GF Fund Management CO. LTD. bought a new stake in Citigroup during the 4th quarter valued at approximately $66,000. Heck Capital Advisors LLC purchased a new position in shares of Citigroup during the 4th quarter worth approximately $97,000. Finally, Carolinas Wealth Consulting LLC grew its holdings in shares of Citigroup by 43.9% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 1,128 shares of the company's stock worth $79,000 after acquiring an additional 344 shares during the period. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insider Buying and Selling at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction that occurred on 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 directly owned 2,140 shares in the company, valued at approximately $193,456. The trade was 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 the SEC website. 0.08% of the stock is owned by company insiders.

Analyst Ratings Changes

C has been the subject of a number of recent research reports. Zacks Research cut shares of Citigroup from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 15th. UBS Group reaffirmed a "neutral" rating and issued a $89.00 price target on shares of Citigroup in a research report on Tuesday, July 15th. Morgan Stanley increased their price objective on shares of Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Oppenheimer dropped their target price on shares of Citigroup from $124.00 to $123.00 and set an "outperform" rating on the stock in a research note on Tuesday. Finally, Truist Financial boosted their price objective on shares of Citigroup from $99.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Citigroup currently has an average rating of "Moderate Buy" and an average price target of $97.61.

Citigroup Stock Down 0.5%

Shares of Citigroup stock 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 company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. The company's 50 day moving average is $95.69 and its 200 day moving average is $81.20. The company has a market cap of $189.63 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 0.89 and a beta of 1.41.

Citigroup (NYSE:C - Get Free Report) last announced its earnings results 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. The business had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. Research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

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

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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