Ritholtz Wealth Management Raises Stock Holdings in Citigroup Inc. $C

Ritholtz Wealth Management raised its stake in Citigroup Inc. (NYSE:C) by 27.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 90,470 shares of the company’s stock after buying an additional 19,619 shares during the quarter. Ritholtz Wealth Management’s holdings in Citigroup were worth $7,701,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. boosted its stake in Citigroup by 179.5% in the first quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company’s stock valued at $1,031,790,000 after acquiring an additional 9,334,038 shares in the last quarter. Nuveen LLC purchased a new stake in Citigroup during the 1st quarter worth approximately $578,100,000. Amundi increased its position in shares of Citigroup by 78.4% in the 1st quarter. Amundi now owns 13,713,517 shares of the company’s stock valued at $973,523,000 after acquiring an additional 6,026,268 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Citigroup by 6.6% during the 1st 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 during the period. Finally, B. Metzler seel. Sohn & Co. AG grew its stake in Citigroup by 2,230.8% during the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 2,630,308 shares of the company’s stock valued at $186,726,000 after purchasing an additional 2,517,459 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Truist Financial increased their price objective on shares of Citigroup from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Bank of America boosted their target price on shares of Citigroup from $89.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, June 26th. TD Cowen lifted their price target on Citigroup from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Wednesday, July 16th. Zacks Research downgraded Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Citigroup in a report on Wednesday, October 8th. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.25.

Citigroup Trading Up 3.9%

Shares of C opened at $99.83 on Wednesday. Citigroup Inc. has a 52-week low of $55.51 and a 52-week 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 firm’s fifty day moving average is $97.25 and its two-hundred day moving average is $84.16. The stock has a market cap of $183.78 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 0.84 and a beta of 1.37.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 14th. The company reported $1.86 EPS for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.03). The business had revenue of $22.09 billion during the quarter, compared to analyst estimates of $20.92 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. Citigroup’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company earned $1.51 earnings per share. Citigroup has set its FY 2025 guidance at EPS. Research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 3rd will be issued a $0.60 dividend. The ex-dividend date is Monday, November 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 2.4%. Citigroup’s dividend payout ratio is presently 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.