Pines Wealth Management LLC Buys 1,587 Shares of Citigroup Inc. $C

Pines Wealth Management LLC raised its position in shares of Citigroup Inc. (NYSE:C) by 28.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 7,263 shares of the company’s stock after acquiring an additional 1,587 shares during the quarter. Pines Wealth Management LLC’s holdings in Citigroup were worth $644,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in C. Orion Capital Management LLC purchased a new stake in Citigroup during the fourth quarter valued at about $28,000. MorganRosel Wealth Management LLC bought a new stake in shares of Citigroup in the first quarter valued at approximately $28,000. American National Bank & Trust purchased a new stake in shares of Citigroup during the 1st quarter valued at approximately $29,000. Accent Capital Management LLC boosted its holdings in Citigroup by 106.0% in the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company’s stock worth $29,000 after buying an additional 212 shares during the period. Finally, Truvestments Capital LLC boosted its holdings in Citigroup by 131.6% in the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company’s stock worth $31,000 after buying an additional 246 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction 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 owned 2,140 shares of the company’s stock, valued at $193,456. This represents a 58.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

C has been the topic of several recent research reports. Oppenheimer increased their target price on Citigroup from $123.00 to $124.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Wells Fargo & Company boosted their price objective on Citigroup from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday. Truist Financial lifted their target price on Citigroup from $99.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Piper Sandler increased their price target on shares of Citigroup from $84.00 to $104.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Finally, Wall Street Zen upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and an average target price of $97.68.

Citigroup Stock Up 0.9%

Shares of NYSE:C opened at $100.71 on Wednesday. The stock has a market capitalization of $185.40 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 0.86 and a beta of 1.41. The stock’s 50-day moving average price is $94.18 and its 200-day moving average price is $80.16. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $100.85.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.35. The company had revenue of $21.67 billion during the quarter, compared to analysts’ expectations of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.Citigroup’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

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

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.