Citigroup Inc. $C Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC trimmed its holdings in Citigroup Inc. (NYSE:C) by 13.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 59,395 shares of the company’s stock after selling 9,115 shares during the period. Perigon Wealth Management LLC’s holdings in Citigroup were worth $5,056,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of C. MorganRosel Wealth Management LLC acquired a new stake in shares of Citigroup during the 1st quarter worth about $28,000. American National Bank & Trust purchased a new position in shares of Citigroup during the 1st quarter worth about $29,000. Accent Capital Management LLC raised its holdings in Citigroup by 106.0% in the first quarter. Accent Capital Management LLC now owns 412 shares of the company’s stock valued at $29,000 after buying an additional 212 shares during the period. Truvestments Capital LLC raised its holdings in Citigroup by 131.6% in the first quarter. Truvestments Capital LLC now owns 433 shares of the company’s stock valued at $31,000 after buying an additional 246 shares during the period. Finally, Mascagni Wealth Management Inc. purchased a new position in Citigroup in the fourth quarter valued at approximately $34,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on C. Morgan Stanley lifted their price objective on shares of Citigroup from $103.00 to $107.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. 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. Wells Fargo & Company boosted their target price on shares of Citigroup from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Keefe, Bruyette & Woods restated a “buy” rating on shares of Citigroup in a research report on Wednesday, July 16th. Finally, The Goldman Sachs Group upped their price target on shares of Citigroup from $85.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.11.

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

Shares of NYSE C opened at $102.03 on Friday. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $105.59. 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 company has a market capitalization of $187.82 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 0.87 and a beta of 1.41. The firm has a 50-day moving average of $96.11 and a two-hundred day moving average of $81.58.

Citigroup (NYSE:C) last posted 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 firm 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 business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. As a group, analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.4%. The ex-dividend date was Monday, August 4th. This is a boost from Citigroup’s previous quarterly dividend of $0.56. Citigroup’s dividend 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.