Patten Group Inc. Increases Holdings in Citigroup Inc. $C

Patten Group Inc. boosted its holdings in shares of Citigroup Inc. (NYSE:C) by 9.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,736 shares of the company’s stock after purchasing an additional 402 shares during the period. Patten Group Inc.’s holdings in Citigroup were worth $403,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Private Advisory Group LLC increased its holdings in Citigroup by 20.8% during the 1st quarter. Private Advisory Group LLC now owns 69,581 shares of the company’s stock valued at $4,940,000 after purchasing an additional 11,978 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Citigroup by 109.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company’s stock worth $88,458,000 after acquiring an additional 649,807 shares during the period. Brighton Jones LLC grew its holdings in shares of Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after acquiring an additional 12,499 shares during the period. Onyx Bridge Wealth Group LLC purchased a new position in shares of Citigroup during the 1st quarter worth approximately $214,000. Finally, Hayek Kallen Investment Management grew its holdings in shares of Citigroup by 125.0% during the 1st quarter. Hayek Kallen Investment Management now owns 15,534 shares of the company’s stock worth $1,103,000 after acquiring an additional 8,630 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Bank of America upped their target price on Citigroup from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Keefe, Bruyette & Woods upped their target price on Citigroup from $112.00 to $118.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Zacks Research downgraded Citigroup from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Piper Sandler upped their target price on Citigroup from $107.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Finally, TD Cowen upped their target price on Citigroup from $105.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $107.63.

Citigroup Stock Performance

Shares of C opened at $96.36 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.62. The business’s 50 day moving average price is $97.81 and its 200-day moving average price is $85.32. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $105.59. The stock has a market cap of $177.39 billion, a P/E ratio of 13.53, a P/E/G ratio of 0.82 and a beta of 1.37.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, October 14th. The company reported $1.86 EPS for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.03). Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The company had revenue of $22.09 billion during the quarter, compared to the consensus estimate of $20.92 billion. During the same period in the prior year, the firm earned $1.51 earnings per share. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. 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 fiscal year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 3rd will be given a $0.60 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $2.40 annualized dividend and a yield of 2.5%. Citigroup’s dividend payout ratio is 33.71%.

Citigroup 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.