Atalanta Sosnoff Capital LLC Sells 20,000 Shares of Citigroup Inc. $C

Key Points

• Atalanta Sosnoff Capital LLC has significantly reduced its stake in Citigroup Inc. by 79.7%, holding only 5,100 shares valued at $362,000 after selling 20,000 shares.
• Citigroup recently reported $1.96 EPS for the quarter, exceeding estimates, alongside a revenue of $21.67 billion, representing an 8.2% increase year-over-year.
• The company declared a new quarterly dividend of $0.60 per share, up from the previous $0.56, resulting in an annual yield of 2.5%.

Atalanta Sosnoff Capital LLC lessened its stake in Citigroup Inc. (NYSE:C - Free Report) by 79.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,100 shares of the company's stock after selling 20,000 shares during the quarter. Atalanta Sosnoff Capital LLC's holdings in Citigroup were worth $362,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. True Wealth Design LLC boosted its holdings in shares of Citigroup by 11.1% in the fourth quarter. True Wealth Design LLC now owns 1,195 shares of the company's stock valued at $84,000 after buying an additional 119 shares during the period. Continuum Advisory LLC boosted its holdings in shares of Citigroup by 1.9% in the fourth quarter. Continuum Advisory LLC now owns 6,519 shares of the company's stock valued at $459,000 after buying an additional 120 shares during the period. Solitude Financial Services boosted its holdings in shares of Citigroup by 0.9% in the first quarter. Solitude Financial Services now owns 16,496 shares of the company's stock valued at $1,171,000 after buying an additional 140 shares during the period. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Citigroup by 2.1% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 6,902 shares of the company's stock valued at $490,000 after buying an additional 142 shares during the period. Finally, Insight Inv LLC boosted its holdings in shares of Citigroup by 0.5% in the first quarter. Insight Inv LLC now owns 27,268 shares of the company's stock valued at $1,936,000 after buying an additional 146 shares during the period. Institutional investors and hedge funds own 71.72% of the company's stock.

Citigroup Stock Performance

Shares of C traded down $1.64 during trading hours on Friday, hitting $95.44. The company had a trading volume of 17,018,341 shares, compared to its average volume of 12,488,161. The firm has a market cap of $175.69 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 0.82 and a beta of 1.41. The business has a fifty day moving average of $92.56 and a 200-day moving average of $79.23. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $97.98. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.61 by $0.35. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The business had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. During the same period in the prior year, the company posted $1.52 earnings per share. Citigroup's revenue was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. Equities analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 4th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.5%. This is a boost from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date was Monday, August 4th. Citigroup's dividend payout ratio is currently 35.45%.

Insider Activity at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the transaction, the director directly owned 2,140 shares in the company, valued at approximately $193,456. This represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

C has been the subject of several recent research reports. Barclays increased their target price on shares of Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Cowen initiated coverage on shares of Citigroup in a report on Wednesday, May 14th. They set a "hold" rating for the company. Oppenheimer increased their target price on shares of Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Evercore ISI set a $77.00 target price on shares of Citigroup in a report on Monday, July 7th. Finally, Piper Sandler upped their price target on shares of Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Citigroup presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.96.

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.