Blume Capital Management Inc. Acquires 11,485 Shares of Citigroup Inc. $C

Blume Capital Management Inc. grew its holdings in shares of Citigroup Inc. (NYSE:C) by 8.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 154,233 shares of the company’s stock after purchasing an additional 11,485 shares during the period. Citigroup makes up approximately 2.6% of Blume Capital Management Inc.’s holdings, making the stock its 11th largest position. Blume Capital Management Inc.’s holdings in Citigroup were worth $13,128,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. MorganRosel Wealth Management LLC bought a new stake in Citigroup in the first quarter worth $28,000. Accent Capital Management LLC raised its position in shares of Citigroup by 106.0% in the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company’s stock worth $29,000 after purchasing an additional 212 shares during the last quarter. Truvestments Capital LLC boosted its stake in Citigroup by 131.6% in the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company’s stock worth $31,000 after purchasing an additional 246 shares in the last quarter. DHJJ Financial Advisors Ltd. grew its position in Citigroup by 157.1% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 414 shares of the company’s stock valued at $35,000 after purchasing an additional 253 shares during the last quarter. Finally, HHM Wealth Advisors LLC increased its stake in Citigroup by 805.2% during the 1st quarter. HHM Wealth Advisors LLC now owns 525 shares of the company’s stock valued at $37,000 after purchasing an additional 467 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of Citigroup from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Wall Street Zen raised Citigroup from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. TD Cowen increased their target price on Citigroup from $105.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Keefe, Bruyette & Woods lifted their target price on Citigroup from $112.00 to $118.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Finally, Dbs Bank cut Citigroup from a “moderate buy” rating to a “hold” rating in a research note on Monday, September 22nd. Eleven 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.63.

Citigroup Stock Performance

Shares of NYSE:C opened at $98.29 on Wednesday. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $105.59. The stock has a market capitalization of $180.94 billion, a P/E ratio of 13.80, a PEG ratio of 0.84 and a beta of 1.37. The firm has a fifty day simple moving average of $97.78 and a two-hundred day simple moving average of $85.24. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.62.

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

Citigroup Dividend Announcement

The business 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. 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 (DPR) is presently 33.71%.

Citigroup 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.