Solitude Financial Services Sells 4,296 Shares of Citigroup Inc. $C

Solitude Financial Services decreased its position in Citigroup Inc. (NYSE:C) by 26.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 12,200 shares of the company’s stock after selling 4,296 shares during the period. Citigroup comprises approximately 0.4% of Solitude Financial Services’ portfolio, making the stock its 20th biggest holding. Solitude Financial Services’ holdings in Citigroup were worth $1,038,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Secure Asset Management LLC grew its stake in shares of Citigroup by 3.7% during the 2nd quarter. Secure Asset Management LLC now owns 3,290 shares of the company’s stock valued at $280,000 after purchasing an additional 118 shares during the period. Golden State Equity Partners lifted its holdings in Citigroup by 0.6% in the 2nd quarter. Golden State Equity Partners now owns 21,634 shares of the company’s stock worth $1,842,000 after purchasing an additional 122 shares in the last quarter. Wedmont Private Capital boosted its stake in Citigroup by 0.5% in the 2nd quarter. Wedmont Private Capital now owns 23,706 shares of the company’s stock worth $2,034,000 after purchasing an additional 129 shares during the period. RDA Financial Network boosted its stake in Citigroup by 3.4% in the 2nd quarter. RDA Financial Network now owns 3,940 shares of the company’s stock worth $335,000 after purchasing an additional 130 shares during the period. Finally, DMKC Advisory Services LLC boosted its stake in Citigroup by 0.7% in the 2nd quarter. DMKC Advisory Services LLC now owns 19,838 shares of the company’s stock worth $1,847,000 after purchasing an additional 131 shares during the period. Institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

C has been the topic of several recent research reports. Bank of America upped their price objective on Citigroup from $89.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, June 26th. Wells Fargo & Company upped their price objective on Citigroup from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Piper Sandler upped their price objective on Citigroup from $84.00 to $104.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Zacks Research cut Citigroup from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Finally, Barclays upped their price objective on Citigroup from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and an average target price of $99.68.

Citigroup Stock Performance

NYSE:C opened at $98.02 on Tuesday. The stock’s fifty day moving average is $96.84 and its 200 day moving average is $83.23. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $105.59. The firm has a market capitalization of $180.45 billion, a PE ratio of 14.48, a PEG ratio of 0.84 and a beta of 1.37. 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 (NYSE:C) last released its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The company had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same quarter in the prior year, the firm posted $1.52 EPS. Citigroup’s quarterly revenue was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.4%. The ex-dividend date was Monday, August 4th. This is a boost from Citigroup’s previous quarterly dividend of $0.56. Citigroup’s payout ratio is currently 35.45%.

Insiders Place Their Bets

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the company’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the transaction, the director owned 2,140 shares of the company’s stock, valued at $193,456. This represents a 58.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.08% of the company’s stock.

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.