GK Wealth Management LLC Reduces Stock Position in Citigroup Inc. $C

GK Wealth Management LLC lessened its position in shares of Citigroup Inc. (NYSE:C) by 16.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,883 shares of the company’s stock after selling 584 shares during the quarter. GK Wealth Management LLC’s holdings in Citigroup were worth $205,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of C. Brighton Jones LLC boosted its stake in shares of Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after buying an additional 12,499 shares during the last quarter. Gotham Asset Management LLC boosted its stake in shares of Citigroup by 0.7% in the fourth quarter. Gotham Asset Management LLC now owns 47,770 shares of the company’s stock worth $3,363,000 after buying an additional 344 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Citigroup by 6.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 268,233 shares of the company’s stock worth $18,881,000 after buying an additional 16,000 shares during the last quarter. OMERS ADMINISTRATION Corp boosted its stake in shares of Citigroup by 50.9% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 99,377 shares of the company’s stock worth $6,995,000 after buying an additional 33,532 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of Citigroup by 0.3% in the fourth quarter. Nuveen Asset Management LLC now owns 13,454,775 shares of the company’s stock worth $947,082,000 after buying an additional 46,646 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Trading Down 0.1%

Citigroup stock opened at $97.27 on Thursday. The firm has a 50 day simple moving average of $93.21 and a 200-day simple moving average of $79.58. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $179.06 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 0.84 and a beta of 1.41. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $98.38.

Citigroup (NYSE:C) last posted 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. The business had revenue of $21.67 billion during the quarter, compared to analysts’ expectations of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The business’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm posted $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were issued a dividend of $0.60 per share. The ex-dividend date was Monday, August 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.5%. This is an increase from Citigroup’s previous quarterly dividend of $0.56. Citigroup’s dividend payout ratio is presently 35.45%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on C shares. Morgan Stanley upped their price target on Citigroup from $103.00 to $107.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Citigroup in a research report on Wednesday, July 16th. Wells Fargo & Company raised their price target on Citigroup from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Evercore ISI set a $77.00 price objective on Citigroup in a research note on Monday, July 7th. Finally, Truist Financial raised their price target on Citigroup from $99.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.96.

Insider Activity at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the transaction, the director owned 2,140 shares in the company, valued at approximately $193,456. This trade represents a 58.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Company 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.