Sagespring Wealth Partners LLC Increases Stock Position in Citigroup Inc. $C

Sagespring Wealth Partners LLC boosted its stake in Citigroup Inc. (NYSE:C) by 27.6% in the second quarter, Holdings Channel.com reports. The fund owned 24,080 shares of the company’s stock after buying an additional 5,203 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Citigroup were worth $2,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Secure Asset Management LLC lifted its position in Citigroup by 3.7% in the second quarter. Secure Asset Management LLC now owns 3,290 shares of the company’s stock valued at $280,000 after acquiring an additional 118 shares during the last quarter. Golden State Equity Partners increased its stake in Citigroup by 0.6% in the second quarter. Golden State Equity Partners now owns 21,634 shares of the company’s stock valued at $1,842,000 after purchasing an additional 122 shares during the period. Wedmont Private Capital increased its stake in Citigroup by 0.5% in the second quarter. Wedmont Private Capital now owns 23,706 shares of the company’s stock valued at $2,034,000 after purchasing an additional 129 shares during the period. RDA Financial Network increased its stake in Citigroup by 3.4% in the second quarter. RDA Financial Network now owns 3,940 shares of the company’s stock valued at $335,000 after purchasing an additional 130 shares during the period. Finally, Richardson Financial Services Inc. increased its stake in Citigroup by 6.1% in the second quarter. Richardson Financial Services Inc. now owns 2,270 shares of the company’s stock valued at $196,000 after purchasing an additional 130 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Citigroup from $107.00 to $129.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. Barclays lifted their price objective on shares of Citigroup from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods restated a “buy” rating on shares of Citigroup in a research note on Wednesday, July 16th. TD Cowen boosted their price target on shares of Citigroup from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday, July 16th. Finally, Evercore ISI set a $77.00 price target on shares of Citigroup in a research note on Monday, July 7th. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price of $101.25.

Citigroup Trading Up 3.9%

Shares of C opened at $99.83 on Wednesday. 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 firm’s 50-day moving average is $97.25 and its two-hundred day moving average is $84.16. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $105.59. The firm has a market capitalization of $183.78 billion, a P/E ratio of 14.75, a PEG ratio of 0.84 and a beta of 1.37.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 14th. The company reported $1.86 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.03). Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The company had revenue of $22.09 billion for the quarter, compared to analyst estimates of $20.92 billion. During the same quarter in the previous year, the company posted $1.51 earnings per share. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. On average, research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders 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 is 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.