Envestnet Asset Management Inc. Grows Stock Holdings in Citigroup Inc. $C

Envestnet Asset Management Inc. lifted its position in shares of Citigroup Inc. (NYSE:C) by 3.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,330,453 shares of the company’s stock after purchasing an additional 111,671 shares during the period. Envestnet Asset Management Inc. owned about 0.18% of Citigroup worth $283,481,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Onyx Bridge Wealth Group LLC lifted its position in shares of Citigroup by 3.6% during the 2nd quarter. Onyx Bridge Wealth Group LLC now owns 3,117 shares of the company’s stock worth $265,000 after purchasing an additional 109 shares during the last quarter. 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 lifted its position 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 acquiring an additional 122 shares during the last quarter. Wedmont Private Capital lifted its position 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 acquiring an additional 129 shares during the last quarter. Finally, RDA Financial Network lifted its position 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 acquiring an additional 130 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Trading Up 2.1%

Shares of Citigroup stock opened at $98.77 on Monday. 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 company’s 50-day simple moving average is $97.93 and its 200-day simple moving average is $86.20. The firm has a market cap 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.

Citigroup (NYSE:C) last issued 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). Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The firm had revenue of $22.09 billion for the quarter, compared to analyst estimates of $20.92 billion. During the same quarter last year, the firm earned $1.51 earnings per share. The company’s revenue was up 9.3% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Piper Sandler boosted their price target on shares of Citigroup from $107.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. The Goldman Sachs Group reissued a “buy” rating and issued a $118.00 price target on shares of Citigroup in a research report on Tuesday, October 14th. TD Cowen boosted their price target on shares of Citigroup from $105.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Barclays boosted their price target on shares of Citigroup from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Citigroup in a research report on Friday. Eleven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and an average price target of $107.63.

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.