Modern Wealth Management LLC Purchases 2,330 Shares of Citigroup Inc. $C

Modern Wealth Management LLC lifted its position in Citigroup Inc. (NYSE:C) by 9.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 28,315 shares of the company’s stock after buying an additional 2,330 shares during the quarter. Modern Wealth Management LLC’s holdings in Citigroup were worth $2,010,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in C. Orion Capital Management LLC bought a new stake in shares of Citigroup in the 4th quarter valued at approximately $28,000. MorganRosel Wealth Management LLC bought a new stake in shares of Citigroup in the 1st quarter valued at approximately $28,000. American National Bank & Trust bought a new stake in shares of Citigroup in the 1st quarter valued at approximately $29,000. Accent Capital Management LLC grew its stake in shares of Citigroup by 106.0% in the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company’s stock valued at $29,000 after buying an additional 212 shares in the last quarter. Finally, Truvestments Capital LLC grew its stake in shares of Citigroup by 131.6% in the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company’s stock valued at $31,000 after buying an additional 246 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on C. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Citigroup in a research report on Wednesday, July 16th. Wall Street Zen raised Citigroup from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Dbs Bank raised Citigroup from a “hold” rating to a “moderate buy” rating in a research report on Thursday, July 17th. TD Cowen upped their target price on Citigroup from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Wednesday, July 16th. Finally, Piper Sandler upped their target price on Citigroup from $84.00 to $104.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and an average price target of $96.96.

Insider Buying and Selling at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 2,140 shares of the company’s stock, valued at approximately $193,456. This represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.08% of the company’s stock.

Citigroup Stock Up 0.7%

C opened at $99.51 on Friday. Citigroup Inc. has a 1-year low of $55.51 and a 1-year high of $99.70. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $183.19 billion, a price-to-earnings ratio of 14.70, a P/E/G ratio of 0.85 and a beta of 1.41. The business has a 50 day moving average of $93.63 and a 200-day moving average of $79.86.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share 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 company had revenue of $21.67 billion during the quarter, compared to analysts’ expectations of $20.75 billion. During the same period in the prior year, the business earned $1.52 earnings per share. Citigroup’s revenue for the quarter was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current 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 given a $0.60 dividend. This is a positive change from Citigroup’s previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, August 4th. Citigroup’s dividend payout ratio (DPR) is currently 35.45%.

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.