Wealth Enhancement Advisory Services LLC Acquires 8,562 Shares of Citigroup Inc. $C

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Citigroup Inc. by 2.3%, owning 380,856 shares valued at approximately $33.79 million as of the last quarter.
• Citigroup reported a Q2 earnings per share (EPS) of $1.96, surpassing analyst expectations of $1.61, with revenues up 8.2% year-over-year.
• The company declared a quarterly dividend of $0.60 per share, up from $0.56, representing an annualized dividend yield of 2.3%.

Wealth Enhancement Advisory Services LLC increased its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 2.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 380,856 shares of the company's stock after buying an additional 8,562 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Citigroup were worth $33,790,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new position in Citigroup during the 4th quarter valued at about $28,000. MorganRosel Wealth Management LLC bought a new stake in shares of Citigroup in the 1st quarter valued at about $28,000. Accent Capital Management LLC increased its stake in shares of Citigroup by 106.0% in the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company's stock valued at $29,000 after acquiring an additional 212 shares during the last quarter. American National Bank & Trust bought a new stake in Citigroup during the 1st quarter worth approximately $29,000. Finally, Truvestments Capital LLC increased its stake in Citigroup by 131.6% during the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company's stock worth $31,000 after purchasing an additional 246 shares in 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 business's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the transaction, the director owned 2,140 shares of the company's stock, valued at approximately $193,456. The trade was a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.08% of the company's stock.

Citigroup Price Performance

C stock traded up $0.88 during mid-day trading on Monday, hitting $103.56. The stock had a trading volume of 6,900,507 shares, compared to its average volume of 15,455,311. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $103.64. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61. The firm has a fifty day simple moving average of $95.12 and a 200 day simple moving average of $80.82. The firm has a market capitalization of $190.65 billion, a P/E ratio of 15.29, a P/E/G ratio of 0.88 and a beta of 1.41.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly 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. The firm had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The business's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the firm posted $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

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

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Zacks Research cut Citigroup from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 15th. Truist Financial increased their target price on Citigroup from $99.00 to $105.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Morgan Stanley upped their price target on Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Finally, Evercore ISI set a $77.00 price target on Citigroup in a research report on Monday, July 7th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $97.68.

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.