118,652 Shares in Citigroup Inc. $C Purchased by Access Investment Management LLC

Access Investment Management LLC purchased a new stake in Citigroup Inc. (NYSE:C) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 118,652 shares of the company’s stock, valued at approximately $10,100,000. Citigroup accounts for approximately 2.9% of Access Investment Management LLC’s portfolio, making the stock its 10th biggest position.

A number of other hedge funds have also recently added to or reduced their stakes in C. Seelaus Asset Management LLC boosted its stake in shares of Citigroup by 5.5% during the 2nd quarter. Seelaus Asset Management LLC now owns 12,763 shares of the company’s stock worth $1,086,000 after acquiring an additional 661 shares in the last quarter. Machina Capital S.A.S. acquired a new position in Citigroup in the 2nd quarter worth about $2,545,000. Westside Investment Management Inc. boosted its position in Citigroup by 2.8% during the second quarter. Westside Investment Management Inc. now owns 10,572 shares of the company’s stock worth $901,000 after purchasing an additional 283 shares in the last quarter. TIAA Trust National Association increased its position in shares of Citigroup by 27.7% in the second quarter. TIAA Trust National Association now owns 22,794 shares of the company’s stock valued at $1,940,000 after buying an additional 4,941 shares in the last quarter. Finally, Carmel Capital Management L.L.C. raised its stake in shares of Citigroup by 0.3% during the 2nd quarter. Carmel Capital Management L.L.C. now owns 174,225 shares of the company’s stock worth $14,830,000 after buying an additional 450 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Performance

Shares of C opened at $101.42 on Monday. The company has a market capitalization of $186.69 billion, a price-to-earnings ratio of 14.24, a price-to-earnings-growth ratio of 0.83 and a beta of 1.37. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $105.59. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.62. The stock has a 50 day moving average price of $98.62 and a 200 day moving average price of $87.69.

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

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 3rd will be given a dividend of $0.60 per share. The ex-dividend date is Monday, November 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. Citigroup’s payout ratio is 33.71%.

Analyst Upgrades and Downgrades

C has been the subject of several recent analyst reports. Dbs Bank lowered shares of Citigroup from a “moderate buy” rating to a “hold” rating in a report on Monday, September 22nd. Zacks Research cut Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Bank of America increased their price objective on shares of Citigroup from $115.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. UBS Group reiterated a “neutral” rating and issued a $89.00 target price on shares of Citigroup in a report on Tuesday, July 15th. Finally, Cowen restated a “hold” rating and set a $110.00 price target on shares of Citigroup in a research report on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $107.63.

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.