Convergence Investment Partners LLC Raises Holdings in Citigroup Inc. $C

Convergence Investment Partners LLC raised its position in shares of Citigroup Inc. (NYSE:C) by 31.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 21,776 shares of the company’s stock after buying an additional 5,253 shares during the period. Convergence Investment Partners LLC’s holdings in Citigroup were worth $1,854,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Onyx Bridge Wealth Group LLC boosted its position in shares of Citigroup by 3.6% during the second quarter. Onyx Bridge Wealth Group LLC now owns 3,117 shares of the company’s stock worth $265,000 after buying an additional 109 shares during the period. Secure Asset Management LLC boosted its position in shares of Citigroup by 3.7% during the second quarter. Secure Asset Management LLC now owns 3,290 shares of the company’s stock worth $280,000 after buying an additional 118 shares during the period. Golden State Equity Partners boosted its position in shares of Citigroup by 0.6% during the second quarter. Golden State Equity Partners now owns 21,634 shares of the company’s stock worth $1,842,000 after buying an additional 122 shares during the period. Wedmont Private Capital boosted its position in shares of Citigroup by 0.5% during the second quarter. Wedmont Private Capital now owns 23,706 shares of the company’s stock worth $2,034,000 after buying an additional 129 shares during the period. Finally, RDA Financial Network boosted its position in shares of Citigroup by 3.4% during the second quarter. RDA Financial Network now owns 3,940 shares of the company’s stock worth $335,000 after buying an additional 130 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on C. Dbs Bank lowered Citigroup from a “moderate buy” rating to a “hold” rating in a research report on Monday, September 22nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $118.00 target price on shares of Citigroup in a report on Tuesday, October 14th. Oppenheimer decreased their target price on Citigroup from $124.00 to $123.00 and set an “outperform” rating for the company in a report on Tuesday, September 23rd. Morgan Stanley lifted their target price on Citigroup from $129.00 to $134.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Finally, Truist Financial lifted their target price on Citigroup from $105.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Eleven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $107.63.

Citigroup Stock Up 2.1%

Shares of NYSE C opened at $98.77 on Monday. The company has a market capitalization of $181.82 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 0.83 and a beta of 1.37. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.99 and a quick ratio of 0.99. The business has a 50-day moving average of $97.93 and a two-hundred day moving average of $86.20. Citigroup Inc. has a 1 year low of $55.51 and a 1 year high of $105.59.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, October 14th. The company reported $1.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.03). The business had revenue of $22.09 billion for the quarter, compared to analysts’ expectations of $20.92 billion. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the firm earned $1.51 earnings per share. Citigroup has set its FY 2025 guidance at EPS. On average, analysts forecast 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 dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Monday, November 3rd. Citigroup’s payout ratio is 33.71%.

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.