Citigroup Inc. $C Shares Acquired by Modern Wealth Management LLC

Modern Wealth Management LLC increased its stake in Citigroup Inc. (NYSE:C) by 9.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,315 shares of the company’s stock after purchasing an additional 2,330 shares during the quarter. Modern Wealth Management LLC’s holdings in Citigroup were worth $2,010,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its position in Citigroup by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company’s stock worth $2,917,794,000 after acquiring an additional 2,539,769 shares in the last quarter. Northern Trust Corp raised its position in Citigroup by 1.0% in the first quarter. Northern Trust Corp now owns 20,427,563 shares of the company’s stock worth $1,450,153,000 after acquiring an additional 195,013 shares in the last quarter. Invesco Ltd. raised its position in Citigroup by 3.6% in the first quarter. Invesco Ltd. now owns 16,839,915 shares of the company’s stock worth $1,195,466,000 after acquiring an additional 592,820 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Citigroup by 179.5% in the first quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company’s stock worth $1,031,790,000 after acquiring an additional 9,334,038 shares in the last quarter. Finally, Amundi raised its position in Citigroup by 78.4% in the first quarter. Amundi now owns 13,713,517 shares of the company’s stock worth $973,523,000 after acquiring an additional 6,026,268 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on C shares. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Citigroup in a research report on Wednesday, July 16th. Evercore ISI set a $77.00 price target on shares of Citigroup in a research report on Monday, July 7th. TD Cowen boosted their price objective on Citigroup from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Wednesday, July 16th. Wells Fargo & Company boosted their price objective on Citigroup from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Finally, Truist Financial boosted their price objective on 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 five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.96.

Insider Buying and Selling at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $193,456. This represents a 58.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.08% of the stock is owned by corporate insiders.

Citigroup Price Performance

NYSE C opened at $99.51 on Friday. The company has a market cap of $183.19 billion, a PE ratio of 14.70, a PEG ratio of 0.85 and a beta of 1.41. Citigroup Inc. has a 1 year low of $55.51 and a 1 year 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 stock’s 50-day moving average price is $93.63 and its two-hundred day moving average price is $79.86.

Citigroup (NYSE:C) last issued 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 company had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. On average, analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were issued a $0.60 dividend. The ex-dividend date was Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. This is a positive change from Citigroup’s previous quarterly dividend of $0.56. Citigroup’s dividend payout ratio is currently 35.45%.

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.