DAVENPORT & Co LLC Buys 7,651 Shares of Citigroup Inc. $C

DAVENPORT & Co LLC raised its stake in shares of Citigroup Inc. (NYSE:C) by 0.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,111,707 shares of the company’s stock after buying an additional 7,651 shares during the quarter. DAVENPORT & Co LLC’s holdings in Citigroup were worth $94,423,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. MorganRosel Wealth Management LLC bought a new stake in Citigroup during the 1st quarter worth approximately $28,000. Accent Capital Management LLC increased its holdings in shares of Citigroup by 106.0% in the first quarter. Accent Capital Management LLC now owns 412 shares of the company’s stock worth $29,000 after purchasing an additional 212 shares during the period. Truvestments Capital LLC raised its position 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 buying an additional 246 shares in the last quarter. DHJJ Financial Advisors Ltd. boosted its stake in Citigroup by 157.1% during the second quarter. DHJJ Financial Advisors Ltd. now owns 414 shares of the company’s stock valued at $35,000 after buying an additional 253 shares during the period. Finally, HHM Wealth Advisors LLC boosted its stake in Citigroup by 805.2% during the first quarter. HHM Wealth Advisors LLC now owns 525 shares of the company’s stock valued at $37,000 after buying an additional 467 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on C. Bank of America upped 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. Wall Street Zen raised Citigroup from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Zacks Research downgraded shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Evercore ISI set a $77.00 target price on shares of Citigroup in a research report on Monday, July 7th. Finally, Dbs Bank cut shares of Citigroup from a “moderate buy” rating to a “hold” rating in a research note on Monday, September 22nd. Eleven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price of $99.68.

Insider Buying and Selling at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the sale, the director directly 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 legal filing with the SEC, which is available through this link. Company insiders own 0.08% of the company’s stock.

Citigroup Trading Up 0.2%

C stock opened at $97.58 on Monday. The company has a market capitalization of $179.64 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 0.84 and a beta of 1.37. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup Inc. has a one year low of $55.51 and a one year high of $105.59. The company’s 50 day moving average price is $96.79 and its two-hundred day moving average price is $83.05.

Citigroup (NYSE:C) last released its earnings results on Tuesday, July 15th. The company reported $1.96 EPS 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%. 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 EPS. Citigroup has set its FY 2025 guidance at EPS. As a group, analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal 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 $0.60 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. Citigroup’s dividend payout ratio is presently 35.45%.

Citigroup Company 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.