Citigroup Inc. $C is Sierra Summit Advisors LLC’s 9th Largest Position

Sierra Summit Advisors LLC boosted its stake in Citigroup Inc. (NYSE:C) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 177,800 shares of the company’s stock after acquiring an additional 11,818 shares during the quarter. Citigroup comprises about 2.7% of Sierra Summit Advisors LLC’s holdings, making the stock its 9th largest holding. Sierra Summit Advisors LLC’s holdings in Citigroup were worth $15,134,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Accent Capital Management LLC grew its holdings in Citigroup by 106.0% during the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company’s stock worth $29,000 after acquiring an additional 212 shares in the last quarter. DHJJ Financial Advisors Ltd. raised its holdings in shares of Citigroup by 157.1% during the second quarter. DHJJ Financial Advisors Ltd. now owns 414 shares of the company’s stock worth $35,000 after purchasing an additional 253 shares during the period. Truvestments Capital LLC lifted its position in shares of Citigroup by 131.6% in the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company’s stock worth $31,000 after buying an additional 246 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of Citigroup in the 2nd quarter valued at about $38,000. Finally, MTM Investment Management LLC bought a new stake in shares of Citigroup during the 2nd quarter valued at about $43,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Cowen reaffirmed a “hold” rating and set a $110.00 target price on shares of Citigroup in a report on Wednesday, October 15th. Dbs Bank downgraded Citigroup from a “moderate buy” rating to a “hold” rating in a research note on Monday, September 22nd. Truist Financial increased their target price on Citigroup from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Bank of America raised their target price on Citigroup from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Citigroup in a research report on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.43.

Citigroup Stock Performance

Shares of NYSE C opened at $98.68 on Friday. Citigroup Inc. has a 1 year low of $55.51 and a 1 year high of $105.59. The firm has a market cap of $176.56 billion, a P/E ratio of 13.86, a PEG ratio of 0.83 and a beta of 1.37. The stock has a fifty day moving average price of $99.74 and a two-hundred day moving average price of $91.02. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.99 and a current ratio of 0.99.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, October 14th. The company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.35. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The business had revenue of $22.09 billion during the quarter, compared to analyst estimates of $20.92 billion. During the same quarter in the prior year, the firm posted $1.51 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. Research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

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

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.