Pingora Partners LLC Cuts Stock Position in Citigroup Inc. $C

Pingora Partners LLC lessened its stake in Citigroup Inc. (NYSE:C) by 6.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 4,495 shares of the company’s stock after selling 300 shares during the quarter. Pingora Partners LLC’s holdings in Citigroup were worth $319,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Orion Capital Management LLC purchased a new stake in Citigroup in the 4th quarter worth $28,000. MorganRosel Wealth Management LLC acquired a new position in Citigroup in the 1st quarter valued at $28,000. Accent Capital Management LLC raised its stake in Citigroup by 106.0% in the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company’s stock valued at $29,000 after purchasing an additional 212 shares during the last quarter. American National Bank & Trust acquired a new position in Citigroup in the 1st quarter valued at $29,000. Finally, Truvestments Capital LLC raised its stake in Citigroup by 131.6% in the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company’s stock valued at $31,000 after purchasing an additional 246 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Truist Financial increased their price objective on Citigroup from $99.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday. The Goldman Sachs Group increased their price objective on Citigroup from $85.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Oppenheimer raised their target price on Citigroup from $123.00 to $124.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Wall Street Zen raised shares of Citigroup from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating on shares of Citigroup in a report on Wednesday, July 16th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.96.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the sale, the director owned 2,140 shares of the company’s stock, valued at approximately $193,456. This represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.08% of the company’s stock.

Citigroup Stock Down 1.7%

Shares of NYSE:C opened at $95.44 on Friday. The business has a 50-day moving average price of $92.56 and a 200 day moving average price of $79.26. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $175.69 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 0.84 and a beta of 1.41. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $97.98.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.35. The firm had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the company earned $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. Sell-side analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were given a $0.60 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $2.40 annualized dividend and a yield of 2.5%. This is an increase from Citigroup’s previous quarterly dividend of $0.56. Citigroup’s dividend payout ratio is presently 35.45%.

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.