Zullo Investment Group Inc. Grows Stake in Citigroup Inc. $C

Zullo Investment Group Inc. lifted its stake in shares of Citigroup Inc. (NYSE:C) by 3.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,498 shares of the company’s stock after purchasing an additional 189 shares during the period. Zullo Investment Group Inc.’s holdings in Citigroup were worth $468,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Citigroup by 6.6% during 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 purchasing an additional 2,539,769 shares in the last quarter. Northern Trust Corp increased its stake in shares of Citigroup by 1.0% during the first quarter. Northern Trust Corp now owns 20,427,563 shares of the company’s stock worth $1,450,153,000 after purchasing an additional 195,013 shares in the last quarter. Invesco Ltd. increased its stake in shares of Citigroup by 3.6% during the first quarter. Invesco Ltd. now owns 16,839,915 shares of the company’s stock worth $1,195,466,000 after purchasing an additional 592,820 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Citigroup by 179.5% during the first quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company’s stock worth $1,031,790,000 after purchasing an additional 9,334,038 shares in the last quarter. Finally, Amundi increased its stake in shares of Citigroup by 78.4% during the first quarter. Amundi now owns 13,713,517 shares of the company’s stock worth $973,523,000 after purchasing an additional 6,026,268 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Insiders Place Their Bets

In related news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction that occurred 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 transaction, the director owned 2,140 shares of the company’s stock, valued at approximately $193,456. This trade represents a 58.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.08% of the stock is owned by insiders.

Citigroup Stock Performance

NYSE:C opened at $93.87 on Friday. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $172.81 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 0.84 and a beta of 1.37. The company’s 50-day moving average is $97.00 and its two-hundred day moving average is $83.71. Citigroup Inc. has a 1-year low of $55.51 and a 1-year high of $105.59.

Citigroup (NYSE:C) last posted 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 for the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. Citigroup’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. Analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.6%. The ex-dividend date was Monday, August 4th. This is a positive change from Citigroup’s previous quarterly dividend of $0.56. Citigroup’s dividend payout ratio (DPR) is presently 35.45%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Zacks Research cut shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Oppenheimer dropped their price objective on shares of Citigroup from $124.00 to $123.00 and set an “outperform” rating for the company in a research note on Tuesday, September 23rd. Piper Sandler upped their price objective on shares of Citigroup from $84.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Citigroup in a research note on Wednesday, July 16th. Finally, Wall Street Zen raised shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Citigroup has an average rating of “Moderate Buy” and a consensus target price of $99.68.

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.