Citigroup Inc. $C Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. raised its stake in shares of Citigroup Inc. (NYSE:C) by 47.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 574,408 shares of the company’s stock after acquiring an additional 185,210 shares during the period. QRG Capital Management Inc.’s holdings in Citigroup were worth $48,894,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new stake in Citigroup during the 1st quarter valued at approximately $28,000. Accent Capital Management LLC raised its stake in Citigroup by 106.0% during the 1st 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 last quarter. Truvestments Capital LLC raised its stake in Citigroup by 131.6% during the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company’s stock valued at $31,000 after acquiring an additional 246 shares during the last quarter. DHJJ Financial Advisors Ltd. raised its stake in Citigroup by 157.1% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 414 shares of the company’s stock valued at $35,000 after acquiring an additional 253 shares during the last quarter. Finally, HHM Wealth Advisors LLC raised its stake in Citigroup by 805.2% during the 1st quarter. HHM Wealth Advisors LLC now owns 525 shares of the company’s stock valued at $37,000 after acquiring an additional 467 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the sale, the director owned 2,140 shares in the company, valued at $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is owned by company insiders.

Citigroup Stock Up 0.2%

Shares of NYSE:C opened at $97.58 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $105.59. The stock’s fifty day simple moving average is $96.79 and its 200-day simple moving average is $82.89. The company has a market capitalization of $179.64 billion, a P/E ratio of 14.41, a P/E/G ratio of 0.83 and a beta of 1.37.

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. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The business had revenue of $21.67 billion for the quarter, compared to analysts’ expectations of $20.75 billion. During the same quarter last year, the firm earned $1.52 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.5%. This is a positive change from Citigroup’s previous quarterly dividend of $0.56. The ex-dividend date was Monday, August 4th. Citigroup’s payout ratio is 35.45%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on C. TD Cowen increased their target price on Citigroup from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday, July 16th. Wall Street Zen raised Citigroup from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Bank of America increased their target price on Citigroup from $89.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, June 26th. UBS Group reissued a “neutral” rating and set a $89.00 target price on shares of Citigroup in a research note on Tuesday, July 15th. Finally, Zacks Research downgraded Citigroup from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Eleven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company 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.