Advisors Capital Management LLC Trims Stock Holdings in Citigroup Inc. $C

Key Points

• Advisors Capital Management cut its Citigroup stake by 26.5% in the second quarter, selling 306,616 shares and retaining 852,020 shares worth approximately $119.2 million. Institutional investors overall own 71.72% of Citi’s outstanding shares.
• Citigroup reported quarterly EPS of $3.15, beating estimates by $0.41, while revenue rose 14.5% year over year to $24.77 billion. The bank also authorized a $30 billion share-repurchase program and increased its quarterly dividend to $0.67 per share.
• Citi shares opened at $129.92, below the $145.22 analyst consensus price target; analysts maintain a “Moderate Buy” consensus. Potential growth opportunities include an Anthropic IPO role and digital-asset custody, while rising card delinquencies and recent selling pressure remain concerns.

Advisors Capital Management LLC trimmed its position in Citigroup Inc. (NYSE:C - Free Report) by 26.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 852,020 shares of the company's stock after selling 306,616 shares during the period. Citigroup comprises about 1.3% of Advisors Capital Management LLC's investment portfolio, making the stock its 18th largest position. Advisors Capital Management LLC's holdings in Citigroup were worth $119,249,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of C. Vanguard Group Inc. lifted its stake in shares of Citigroup by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company's stock worth $19,048,467,000 after purchasing an additional 4,938,923 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Citigroup by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 43,252,372 shares of the company's stock valued at $5,036,712,000 after buying an additional 189,548 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Citigroup by 4.0% in the fourth quarter. Franklin Resources Inc. now owns 34,196,783 shares of the company's stock valued at $3,990,422,000 after buying an additional 1,326,224 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Citigroup by 2.6% during the 4th quarter. Fisher Asset Management LLC now owns 33,887,285 shares of the company's stock valued at $3,954,307,000 after buying an additional 846,772 shares during the period. Finally, Bank of America Corp DE lifted its position in Citigroup by 2.8% during the 1st quarter. Bank of America Corp DE now owns 26,869,012 shares of the company's stock worth $3,047,215,000 after acquiring an additional 728,043 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Performance

Shares of C opened at $129.92 on Friday. The firm has a market cap of $221.59 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 0.60 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.71. The business's 50 day moving average is $137.37 and its two-hundred day moving average is $126.25. Citigroup Inc. has a 52-week low of $91.46 and a 52-week high of $147.96.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.74 by $0.41. The business had revenue of $24.77 billion during the quarter, compared to analyst estimates of $23.74 billion. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The business's revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.96 earnings per share. Analysts forecast that Citigroup Inc. will post 11.2 EPS for the current fiscal year.

Citigroup declared that its Board of Directors has approved a stock repurchase program on Thursday, May 7th that authorizes the company to buyback $30.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 13.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Citigroup Increases Dividend

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

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Potential lead-bank role in Anthropic IPO: Citigroup is reportedly set to join the top-tier banks working on Anthropic’s anticipated mega-listing. If the IPO proceeds, Citi could benefit from underwriting fees, advisory revenue and increased visibility in the fast-growing artificial-intelligence sector. The timing and final banking syndicate remain subject to change. Anthropic Set to Add Citigroup to Top IPO Banks on Mega-Listing
• Positive Sentiment: Digital-asset custody expansion: Recent coverage highlights Citi’s new custody platform, which is designed to connect traditional asset custody with digital assets, tokenized payments and institutional services. The initiative could create new transaction and custody revenue streams as institutional adoption grows, although the financial impact is still unproven. Can C Capitalize on Digital Asset Growth With New Custody Platform?
• Neutral Sentiment: Dividend-growth appeal: A market commentary is presenting Citigroup as a possible high-growth dividend stock, potentially supporting income-oriented investor interest. However, the article does not announce a new dividend increase or provide a material change to Citi’s capital-return plans. Are You Looking for a High-Growth Dividend Stock?
• Negative Sentiment: Card delinquencies edged higher: Citi’s July card delinquency rate increased modestly, renewing concerns about consumer credit quality and potential future provisions. Lower charge-offs provided some reassurance, but investors remain focused on whether weakening household finances could pressure earnings. C's July Card Delinquencies Tick Up: Will This Impact Asset Quality?
• Negative Sentiment: Recent selling momentum persists: Citigroup recently declined even as the broader market advanced, indicating company-specific or sector-related selling rather than simply market weakness. The stock is trading below its 50-day moving average, which may reinforce short-term technical pressure. This follows a strong earnings report in July, when Citi exceeded consensus EPS and revenue estimates, suggesting the current weakness is more tied to sentiment and credit concerns than to the latest reported quarter.

Analyst Upgrades and Downgrades

C has been the subject of a number of analyst reports. Wall Street Zen cut Citigroup from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Morgan Stanley lifted their price objective on shares of Citigroup from $154.00 to $164.00 and gave the company an "overweight" rating in a research note on Monday, June 29th. UBS Group reduced their target price on shares of Citigroup from $150.00 to $142.00 and set a "neutral" rating on the stock in a research report on Monday, August 3rd. Keefe, Bruyette & Woods upped their target price on shares of Citigroup from $140.00 to $153.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Finally, Wells Fargo & Company raised their price target on shares of Citigroup from $162.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, June 18th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four 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 $145.22.

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi's principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.

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