OFI Invest Asset Management Takes Position in Citigroup Inc. $C

OFI Invest Asset Management acquired a new stake in Citigroup Inc. (NYSE:C) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,450 shares of the company’s stock, valued at approximately $123,000.

Several other hedge funds and other institutional investors have also made changes to their positions in C. Secure Asset Management LLC grew its holdings in Citigroup by 3.7% during the second quarter. Secure Asset Management LLC now owns 3,290 shares of the company’s stock worth $280,000 after acquiring an additional 118 shares during the period. Golden State Equity Partners grew its holdings in Citigroup by 0.6% during the second quarter. Golden State Equity Partners now owns 21,634 shares of the company’s stock worth $1,842,000 after acquiring an additional 122 shares during the period. Wedmont Private Capital grew its holdings in Citigroup by 0.5% during the second quarter. Wedmont Private Capital now owns 23,706 shares of the company’s stock worth $2,034,000 after acquiring an additional 129 shares during the period. RDA Financial Network grew its holdings in Citigroup by 3.4% during the second quarter. RDA Financial Network now owns 3,940 shares of the company’s stock worth $335,000 after acquiring an additional 130 shares during the period. Finally, Richardson Financial Services Inc. grew its holdings in Citigroup by 6.1% during the second quarter. Richardson Financial Services Inc. now owns 2,270 shares of the company’s stock worth $196,000 after acquiring an additional 130 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Truist Financial upped their price objective on Citigroup from $105.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Wells Fargo & Company boosted their target price on Citigroup from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. 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. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Citigroup in a research report on Wednesday, July 16th. Finally, Wall Street Zen upgraded Citigroup from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Eleven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.68.

Citigroup Stock Down 2.1%

Shares of NYSE:C opened at $93.87 on Monday. 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 $97.00 and its 200-day simple moving average is $83.87. The company has a market capitalization of $172.81 billion, a P/E ratio of 13.87, a P/E/G ratio of 0.83 and a beta of 1.37.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $20.75 billion. During the same period in the prior year, the business 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.

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.