Avior Wealth Management LLC Sells 34,112 Shares of Citigroup Inc. $C

Key Points

• Avior Wealth Management LLC reduced its stake in Citigroup by 69.2%, selling 34,112 shares and leaving them with 15,158 shares valued at $1.29 million.
• Citigroup reported earnings per share of $1.96 for the last quarter, surpassing expectations and showing an 8.2% increase in revenue compared to the previous year.
• The company has recently increased its quarterly dividend to $0.60 per share, resulting in an annualized dividend yield of 2.3%.

Avior Wealth Management LLC cut its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 69.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,158 shares of the company's stock after selling 34,112 shares during the period. Avior Wealth Management LLC's holdings in Citigroup were worth $1,290,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of C. Private Advisory Group LLC grew its stake in shares of Citigroup by 20.8% during the 1st quarter. Private Advisory Group LLC now owns 69,581 shares of the company's stock valued at $4,940,000 after purchasing an additional 11,978 shares during the period. Brighton Jones LLC grew its position in Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after buying an additional 12,499 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Citigroup by 109.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company's stock valued at $88,458,000 after buying an additional 649,807 shares during the last quarter. Onyx Bridge Wealth Group LLC bought a new position in Citigroup in the first quarter worth approximately $214,000. Finally, Hayek Kallen Investment Management boosted its stake in shares of Citigroup by 125.0% during the 1st quarter. Hayek Kallen Investment Management now owns 15,534 shares of the company's stock worth $1,103,000 after acquiring an additional 8,630 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Trading Up 1.3%

C stock opened at $103.41 on Monday. The firm has a fifty day moving average price of $96.30 and a 200 day moving average price of $82.03. 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 cap of $190.37 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 0.89 and a beta of 1.41. 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 - Get Free Report) last announced its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.35. The firm had revenue of $21.67 billion for the quarter, compared to analysts' expectations of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The business's revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, August 4th. This is a positive change from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio is 35.45%.

Analyst Ratings Changes

Several analysts have issued reports on C shares. Keefe, Bruyette & Woods reissued a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. Zacks Research lowered shares of Citigroup from a "strong-buy" rating to a "hold" rating in a report on Monday, September 15th. Piper Sandler lifted their price target on shares of Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Dbs Bank lowered shares of Citigroup from a "moderate buy" rating to a "hold" rating in a research report on Monday, September 22nd. Finally, Wall Street Zen upgraded shares of Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $98.11.

Insider Activity at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction that occurred 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 completion of the transaction, the director owned 2,140 shares in the company, valued at approximately $193,456. The trade was a 58.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.08% of the company's stock.

Citigroup Company 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.

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