21,476 Citigroup Inc. $C Shares Sold by Sound Income Strategies LLC

Key Points

• Sound Income Strategies reduced its Citigroup position by 13.2%, selling 21,476 shares and retaining 140,683 shares valued at approximately $18.0 million. Institutional investors and hedge funds collectively own 71.72% of Citi’s stock.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $151.28, although UBS lowered its target to $139 and Zacks downgraded the stock to “hold.”
• Citigroup shares recently traded at $129.61, while the bank reported quarterly EPS and revenue above expectations and increased its quarterly dividend to $0.67 per share, representing a 2.1% annualized yield.

Sound Income Strategies LLC reduced its position in Citigroup Inc. (NYSE:C - Free Report) by 13.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 140,683 shares of the company's stock after selling 21,476 shares during the quarter. Sound Income Strategies LLC's holdings in Citigroup were worth $18,019,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Compass Financial Management LLC acquired a new stake in Citigroup during the second quarter worth approximately $898,000. UniSuper Management Pty Ltd lifted its stake in Citigroup by 38.8% in the fourth quarter. UniSuper Management Pty Ltd now owns 1,306,851 shares of the company's stock valued at $152,496,000 after buying an additional 365,041 shares during the period. Andra AP fonden lifted its stake in Citigroup by 22.3% in the second quarter. Andra AP fonden now owns 274,600 shares of the company's stock valued at $38,433,000 after buying an additional 50,100 shares during the period. Saudi Central Bank boosted its holdings in shares of Citigroup by 80.8% during the 2nd quarter. Saudi Central Bank now owns 119,392 shares of the company's stock worth $16,710,000 after buying an additional 53,348 shares in the last quarter. Finally, Raiffeisen Bank International AG grew its position in shares of Citigroup by 12.9% during the 2nd quarter. Raiffeisen Bank International AG now owns 103,220 shares of the company's stock worth $14,708,000 after buying an additional 11,812 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on C shares. Argus set a $150.00 price objective on shares of Citigroup in a research note on Wednesday, July 15th. Bank of America increased their target price on shares of Citigroup from $170.00 to $176.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Zacks Research downgraded shares of Citigroup from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 14th. JPMorgan Chase & Co. dropped their price objective on shares of Citigroup from $149.00 to $147.00 and set an "overweight" rating on the stock in a report on Friday, October 2nd. Finally, UBS Group cut their price objective on shares of Citigroup from $142.00 to $139.00 and set a "neutral" rating on the stock in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $151.28.

Citigroup Stock Up 1.2%

Shares of NYSE C traded up $1.53 during mid-day trading on Friday, reaching $129.61. 6,507,031 shares of the company's stock traded hands, compared to its average volume of 12,443,352. The stock has a market cap of $221.06 billion, a P/E ratio of 14.00, a PEG ratio of 0.56 and a beta of 1.13. The business has a 50-day simple moving average of $133.80 and a 200 day simple moving average of $131.31. Citigroup Inc. has a 1-year low of $93.66 and a 1-year high of $147.96. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.99 and a quick ratio of 0.99.

Citigroup (NYSE:C - Get Free Report) last posted its earnings results on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, topping the consensus estimate of $2.74 by $0.41. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The company had revenue of $24.77 billion during the quarter, compared to the consensus estimate of $23.74 billion. During the same period in the previous year, the firm posted $1.96 earnings per share. The firm's revenue for the quarter was up 14.5% on a year-over-year basis. On average, analysts expect that Citigroup Inc. will post 11.19 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 3rd were issued a dividend of $0.67 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $2.68 dividend on an annualized basis and a yield of 2.1%. This is an increase from Citigroup's previous quarterly dividend of $0.60. Citigroup's dividend payout ratio is presently 28.94%.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Positive pre-earnings outlook: Analysts expect third-quarter results to benefit from stronger net interest income and market revenues, while cost controls and shareholder returns remain key areas to watch. Citigroup stock ahead of Q3 earnings
• Positive Sentiment: New buy rating and upside target: TD Cowen initiated coverage of Citigroup with a “buy” rating and a $150 price target, implying meaningful upside from recent trading levels and reinforcing the view that Citi’s valuation could improve as its transformation progresses. TD Cowen coverage report
• Positive Sentiment: Private-bank expansion: Citi is adding regional leadership under former Bank of America executive Chris Biotti and targeting approximately $3 trillion in untapped North American client assets. Successful execution could strengthen fee income and help Citi compete more effectively in wealth management. Citi private bank expansion
• Positive Sentiment: AI and efficiency initiatives: Citi is shortening its investment-banking analyst program to two years while deploying AI tools to automate repetitive work. Management expects faster promotion paths and a more efficient talent model, although benefits will depend on implementation. Citigroup investment banking analyst program
• Neutral Sentiment: Valuation debate: Citi’s strong multi-year share-price performance has prompted questions about whether its returns on capital and profitability justify further gains. Optimists argue the bank could rerate closer to peers, while investors may demand more evidence from upcoming results. Citigroup valuation analysis
• Negative Sentiment: Mixed analyst signals and macro risks: UBS lowered its Citigroup price target to $139, and sharply rising bond yields could pressure bank valuations, funding costs and credit conditions ahead of earnings. UBS cuts Citigroup price target

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City and listed on the New York Stock Exchange under the symbol C. Through its subsidiaries and businesses, Citi provides banking, lending, investment, payments, wealth management and other financial services to consumers, businesses, governments and institutional clients.

Citi's principal businesses include Services, which supports institutional clients with treasury, trade, securities services and related solutions; Markets, which provides sales, trading, research and financing services; Banking, which offers investment banking and corporate banking; and Wealth, which provides private banking and wealth management.

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