Citigroup Inc. $C Stake Decreased by Avanza Fonder AB

Key Points

• Avanza Fonder AB reduced its stake in Citigroup by 13.2% during Q2, selling 18,781 shares, leaving it with 123,940 shares valued at approximately $10.55 million.
• Citigroup increased its quarterly dividend from $0.56 to $0.60 per share, reflecting an annualized payout of $2.40 and a dividend yield of 2.3%.
• Analyst ratings for Citigroup are predominantly positive, with ten analysts rating it as a Buy and an average price target of $97.68.

Avanza Fonder AB cut its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 13.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 123,940 shares of the company's stock after selling 18,781 shares during the quarter. Avanza Fonder AB's holdings in Citigroup were worth $10,550,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of C. MorganRosel Wealth Management LLC bought a new position in shares of Citigroup during the first quarter valued at $28,000. American National Bank & Trust bought a new position in shares of Citigroup during the first quarter valued at $29,000. Accent Capital Management LLC increased its holdings in shares of Citigroup by 106.0% during the first quarter. Accent Capital Management LLC now owns 412 shares of the company's stock valued at $29,000 after acquiring an additional 212 shares in the last quarter. Truvestments Capital LLC boosted its position in shares of Citigroup by 131.6% during the first quarter. Truvestments Capital LLC now owns 433 shares of the company's stock valued at $31,000 after buying an additional 246 shares during the last quarter. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of Citigroup during the fourth quarter valued at $34,000. 71.72% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 2,140 shares of the company's stock, valued at approximately $193,456. This represents a 58.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.08% of the company's stock.

Analyst Ratings Changes

C has been the topic of several recent analyst reports. Piper Sandler increased their price objective on Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. The Goldman Sachs Group increased their price objective on Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. TD Cowen increased their price objective on Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a research report on Wednesday, July 16th. Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Finally, Truist Financial increased their price objective on Citigroup from $99.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.61.

Citigroup Price Performance

C stock traded down $0.76 during mid-day trading on Tuesday, reaching $102.73. 11,117,902 shares of the company's stock were exchanged, compared to its average volume of 15,456,487. The company has a market cap of $189.12 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 0.88 and a beta of 1.41. The stock's 50 day moving average is $95.45 and its 200 day moving average is $81.05. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $105.59. The company has a debt-to-equity ratio of 1.61, 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 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $20.75 billion. During the same quarter last year, the firm earned $1.52 earnings per share. The firm'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, research analysts expect that Citigroup Inc. will post 7.53 EPS 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 given a $0.60 dividend. This is a boost from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date was Monday, August 4th. This represents a $2.40 annualized dividend and a yield of 2.3%. Citigroup's payout ratio is presently 35.45%.

Citigroup 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.