As of the 2nd quarter of this year, B.O.S.S. Retirement Advisors LLC has acquired a new position in Citigroup Inc. (NYSE:C), according to a recent filing with the Securities and Exchange Commission. The firm invested in 27,931 shares of the company’s stock, amounting to approximately $1,286,000.
Citigroup recently released its quarterly earnings data on July 14th. During this period, the company reported earnings per share (EPS) of $1.33 for the quarter, surpassing the consensus estimate of $1.31 by $0.02. Its total revenue for the quarter was recorded as $19.44 billion compared to analysts’ expectations of $19.34 billion.
The net margin for Citigroup stood at 10.24% during this period, reflecting a positive performance for the company. Moreover, it achieved a return on equity of 6.80%. However, there was a slight decline in revenue by 1% when compared to the same quarter last year where it posted significant earnings per share of $2.30.
Looking ahead, equities analysts have predicted that Citigroup Inc. will likely post an EPS of 5.75 for the current fiscal year.
Investors and shareholders are encouraged to stay updated with these latest developments by accessing our comprehensive report on Citigroup (NYSE:C).
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Institutional Investors Show Confidence in Citigroup’s Financial Stability and Potential for Growth
Citigroup, one of the leading financial institutions in the world, has recently caught the attention of several institutional investors. In the first quarter of this year, SkyView Investment Advisors LLC acquired a new position in shares of Citigroup for approximately $28,000. This move was followed by Grey Fox Wealth Advisors LLC purchasing a stake in Citigroup worth around $33,000 during the fourth quarter. Heritage Wealth Management LLC also increased its stake in Citigroup by 140.1% during the same period, now owning 862 shares valued at $39,000.
New Hampshire Trust also joined these investors during the fourth quarter with a purchase amounting to roughly $45,000. Meanwhile, Arlington Partners LLC increased its position in Citigroup by 81.5% during the first quarter, now holding 991 shares valued at $46,000. These investments showcase the interest and confidence that institutional investors have in Citigroup’s financial stability and potential for growth.
Currently, institutional investors own approximately 69.26% of Citigroup’s stock. This level of ownership reflects the trust and high regard that these investors have for the company’s performance in the market.
On September 17th, Citigroup’s stock opened at $42.71. The company boasts an impressive market capitalization of $83.15 billion and has a price-to-earnings ratio of 6.77. Additionally, it has a PEG ratio of 1.66 and a beta value of 1.57.
Debt-wise, Citigroup exhibits a debt-to-equity ratio of 1.45 while maintaining favorable liquidity ratios with both its current ratio and quick ratio standing at 0.95.
Over the past year, Citigroup’s stock has experienced fluctuations between its low point at $40.01 and its high point at $53.23 showcasing some volatility but also potential opportunities for gains.
In terms of dividends, the company recently announced a positive change in its quarterly dividend. On August 25th, shareholders of record as of August 7th were issued a dividend of $0.53 per share. This represents an increase from Citigroup’s previous quarterly dividend of $0.51. The new dividend payout amounts to $2.12 on an annualized basis with a yield of 4.96%. Citigroup’s dividend payout ratio (DPR) currently stands at 33.60%.
Analysts have shared their insights and opinions on Citigroup’s stock, shedding light on its performance and potential. Keefe, Bruyette & Woods reduced their price target for Citigroup from $50.00 to $48.00 in a research report issued on May 25th. Meanwhile, Wells Fargo & Company lowered their price target from $60.00 to $55.00, maintaining an “overweight” rating on the stock in a report released on August 23rd.
HSBC initiated coverage on Citigroup with a “hold” rating and set a price target of $43.00 in their report published on September 7th. Furthermore, Oppenheimer decreased their price target from $88 to $85 while recommending an “outperform” rating in their report released on August 18th.
Piper Sandler also lowered their price target for Citigroup shares from $50 to $47 and assigned it a “neutral” rating in their report issued recently.
According to Bloomberg data, Citigroup currently holds a consensus rating of “Hold” among analysts with a consensus target price of $53.
With these developments and perspectives influencing the market sentiment towards Citigroup, investors are advised to consider all relevant factors before making any investment decisions regarding this financial giant’s stock performance in the coming months and beyond.
