Citigroup Inc. $C Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC lessened its position in shares of Citigroup Inc. (NYSE:C) by 3.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 564,770 shares of the company’s stock after selling 21,925 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Citigroup were worth $48,073,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC raised its stake in shares of Citigroup by 11.1% during the 4th quarter. True Wealth Design LLC now owns 1,195 shares of the company’s stock worth $84,000 after buying an additional 119 shares during the last quarter. Continuum Advisory LLC raised its stake in shares of Citigroup by 1.9% during the 4th quarter. Continuum Advisory LLC now owns 6,519 shares of the company’s stock worth $459,000 after buying an additional 120 shares during the last quarter. RDA Financial Network raised its stake in shares of Citigroup by 3.4% during the 2nd 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 last quarter. Solitude Financial Services increased its position in Citigroup by 0.9% during the 1st quarter. Solitude Financial Services now owns 16,496 shares of the company’s stock worth $1,171,000 after purchasing an additional 140 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC increased its position in Citigroup by 2.1% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 6,902 shares of the company’s stock worth $490,000 after purchasing an additional 142 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on C shares. Wall Street Zen upgraded Citigroup from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Piper Sandler lifted their price objective on Citigroup from $84.00 to $104.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. The Goldman Sachs Group lifted their price objective on Citigroup from $85.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Truist Financial lifted their price target on Citigroup from $99.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Finally, Evercore ISI set a $77.00 price target on Citigroup in a report on Monday, July 7th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.96.

Citigroup Stock Up 0.7%

Shares of NYSE:C opened at $99.51 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup Inc. has a 1 year low of $55.51 and a 1 year high of $99.70. The stock has a market capitalization of $183.19 billion, a P/E ratio of 14.70, a PEG ratio of 0.85 and a beta of 1.41. The stock has a 50-day simple moving average of $93.63 and a 200-day simple moving average of $79.87.

Citigroup (NYSE:C) last issued its earnings results 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. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The business had revenue of $21.67 billion during the quarter, compared to analysts’ expectations of $20.75 billion. During the same quarter in the previous year, the business earned $1.52 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. Equities analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were issued 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 was Monday, August 4th. This is an increase from Citigroup’s previous quarterly dividend of $0.56. Citigroup’s dividend payout ratio (DPR) is presently 35.45%.

Insider Activity

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

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.