Citigroup Inc. $C Shares Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC grew its stake in Citigroup Inc. (NYSE:C) by 31.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,776 shares of the company’s stock after buying an additional 5,253 shares during the quarter. Convergence Investment Partners LLC’s holdings in Citigroup were worth $1,854,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Onyx Bridge Wealth Group LLC lifted its holdings in shares of Citigroup by 3.6% in the 2nd quarter. Onyx Bridge Wealth Group LLC now owns 3,117 shares of the company’s stock valued at $265,000 after buying an additional 109 shares during the period. Secure Asset Management LLC raised its holdings in Citigroup by 3.7% in the 2nd quarter. Secure Asset Management LLC now owns 3,290 shares of the company’s stock worth $280,000 after purchasing an additional 118 shares during the period. Golden State Equity Partners boosted its position 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 purchasing an additional 122 shares in the last quarter. Wedmont Private Capital boosted its position 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 purchasing an additional 129 shares in the last quarter. Finally, RDA Financial Network boosted its position 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 purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of Citigroup stock opened at $98.77 on Monday. The business has a 50 day simple moving average of $97.93 and a two-hundred day simple moving average of $86.20. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $105.59. The stock has a market capitalization of $181.82 billion, a P/E ratio of 13.87, a PEG ratio of 0.83 and a beta of 1.37. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.99 and a quick ratio of 0.99.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, October 14th. The company reported $1.86 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.03). Citigroup had a net margin of 8.73% and a return on equity of 7.91%. The company had revenue of $22.09 billion during the quarter, compared to analyst estimates of $20.92 billion. During the same period in the prior year, the business posted $1.51 EPS. Citigroup’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. As a group, analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 3rd will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, November 3rd. Citigroup’s dividend payout ratio (DPR) is currently 33.71%.

Wall Street Analyst Weigh In

C has been the topic of a number of recent analyst reports. Dbs Bank downgraded Citigroup from a “moderate buy” rating to a “hold” rating in a research report on Monday, September 22nd. Bank of America increased their price target on Citigroup from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Wells Fargo & Company increased their price target on Citigroup from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Wall Street Zen upgraded Citigroup from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Finally, Keefe, Bruyette & Woods increased their price target on Citigroup from $112.00 to $118.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.63.

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.