Wealth Effects LLC Buys 2,859 Shares of Citigroup Inc. $C

Wealth Effects LLC increased its position in Citigroup Inc. (NYSE:C) by 21.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 16,459 shares of the company’s stock after buying an additional 2,859 shares during the quarter. Wealth Effects LLC’s holdings in Citigroup were worth $1,401,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. MorganRosel Wealth Management LLC purchased a new position in shares of Citigroup during the 1st quarter valued at $28,000. Accent Capital Management LLC raised its holdings in Citigroup by 106.0% during the first 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 period. American National Bank & Trust purchased a new position in shares of Citigroup in the first quarter valued at about $29,000. Truvestments Capital LLC boosted its stake in shares of Citigroup by 131.6% in the first quarter. Truvestments Capital LLC now owns 433 shares of the company’s stock worth $31,000 after acquiring an additional 246 shares during the period. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of Citigroup during the fourth quarter worth about $34,000. 71.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on C shares. Piper Sandler raised their target price 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. Zacks Research lowered Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Bank of America boosted their target price on Citigroup from $89.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, June 26th. The Goldman Sachs Group increased their price target on Citigroup from $85.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Finally, Morgan Stanley lifted their price objective on Citigroup from $103.00 to $107.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and an average target price of $97.61.

Insider Activity at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the firm’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 transaction, the director owned 2,140 shares of the company’s stock, valued at $193,456. This trade represents a 58.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.08% of the company’s stock.

Citigroup Price Performance

C stock opened at $103.01 on Wednesday. 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 $105.59. The stock has a market cap of $189.63 billion, a PE ratio of 15.22, a P/E/G ratio of 0.89 and a beta of 1.41. The company has a 50-day moving average price of $95.69 and a 200 day moving average price of $81.20.

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

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were paid a dividend of $0.60 per share. This is an increase from Citigroup’s previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, August 4th. 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.