Westbourne Investments Inc. Buys New Stake in Citigroup Inc. $C

Key Points

• Westbourne Investments Inc. acquired a new stake in Citigroup, purchasing 5,267 shares valued at approximately $374,000 during the first quarter.
• Citigroup's recent earnings report showed an EPS of $1.96, exceeding analysts' estimates, with revenue of $21.67 billion, up 8.2% year-over-year.
• The company announced an increase in its quarterly dividend to $0.60 per share, reflecting a dividend yield of 2.5% and a payout ratio of 35.45%.

Westbourne Investments Inc. bought a new stake in shares of Citigroup Inc. (NYSE:C - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,267 shares of the company's stock, valued at approximately $374,000.

A number of other large investors also recently modified their holdings of C. Orion Capital Management LLC purchased a new position in shares of Citigroup during the 4th quarter valued at $28,000. MorganRosel Wealth Management LLC bought a new stake in Citigroup in the 1st quarter valued at $28,000. American National Bank & Trust bought a new stake in Citigroup in the 1st quarter valued at $29,000. Accent Capital Management LLC increased its holdings in 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. Finally, Truvestments Capital LLC increased its holdings in Citigroup by 131.6% in the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company's stock valued at $31,000 after acquiring an additional 246 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Citigroup Trading Up 0.7%

Shares of C stock traded up $0.69 during trading hours on Friday, reaching $99.51. 9,502,253 shares of the stock were exchanged, compared to its average volume of 12,405,087. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $99.70. 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 company's 50-day moving average price is $93.63 and its 200-day moving average price is $79.86. The firm has a market capitalization of $183.19 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 0.85 and a beta of 1.41.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The firm had revenue of $21.67 billion during the quarter, compared to analysts' expectations of $20.75 billion. During the same period 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. As a group, equities analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were given a $0.60 dividend. This is a positive change from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Monday, August 4th. This represents a $2.40 annualized dividend and a yield of 2.4%. Citigroup's dividend payout ratio is presently 35.45%.

Analyst Ratings Changes

A number of brokerages have issued reports on C. The Goldman Sachs Group lifted their price target on shares of Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Truist Financial lifted their price target on shares of Citigroup from $99.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Barclays lifted their price target on shares of Citigroup from $95.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Bank of America boosted their target price on shares of Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Finally, Evercore ISI set a $77.00 target price on shares of Citigroup in a report on Monday, July 7th. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Citigroup has an average rating of "Moderate Buy" and an average target price of $96.96.

Insider Transactions at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the completion of the sale, the director directly owned 2,140 shares of the company's stock, valued at $193,456. The trade was a 58.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.08% of the stock is currently 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.