Azimuth Capital Investment Management LLC Trims Stake in Citigroup Inc. $C

Key Points

• Azimuth Capital reduced its Citigroup stake by 24.5% in the second quarter, selling 33,720 shares and retaining 103,928 shares valued at approximately $14.5 million. Institutional investors collectively own 71.72% of Citi’s stock.
• Citigroup reported stronger-than-expected quarterly results, with earnings of $3.15 per share and revenue of $24.77 billion; revenue increased 14.5% year over year. The company also raised its quarterly dividend to $0.67 per share, yielding about 1.9% annually.
• Analysts maintain a generally positive view, with the stock carrying a “Moderate Buy” consensus rating and a $145.22 average price target. Growth initiatives include expanding its China brokerage and wealth-management businesses, while sanctions-related compliance issues remain a regulatory risk.

Azimuth Capital Investment Management LLC lessened its position in Citigroup Inc. (NYSE:C - Free Report) by 24.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 103,928 shares of the company's stock after selling 33,720 shares during the quarter. Azimuth Capital Investment Management LLC's holdings in Citigroup were worth $14,546,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in C. Geode Capital Management LLC increased its holdings in Citigroup by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 43,252,372 shares of the company's stock worth $5,036,712,000 after purchasing an additional 189,548 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Citigroup by 4.0% in the 4th quarter. Franklin Resources Inc. now owns 34,196,783 shares of the company's stock worth $3,990,422,000 after buying an additional 1,326,224 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Citigroup by 2.6% in the 4th quarter. Fisher Asset Management LLC now owns 33,887,285 shares of the company's stock worth $3,954,307,000 after buying an additional 846,772 shares during the period. Bank of America Corp DE grew its position in shares of 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 buying an additional 728,043 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Citigroup during the 4th quarter worth $2,800,944,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Trading Down 0.2%

Citigroup stock opened at $137.80 on Friday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $235.03 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 0.62 and a beta of 1.12. The stock has a 50-day moving average of $135.26 and a two-hundred day moving average of $127.43. Citigroup Inc. has a one year low of $93.66 and a one year 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 for the quarter, topping analysts' consensus estimates of $2.74 by $0.41. The business had revenue of $24.77 billion for the quarter, compared to analyst estimates of $23.74 billion. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The company's revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.96 earnings per share. On average, research analysts anticipate that Citigroup Inc. will post 11.21 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 3rd were paid a dividend of $0.67 per share. The ex-dividend date was Monday, August 3rd. This is an increase from Citigroup's previous quarterly dividend of $0.60. This represents a $2.68 annualized dividend and a dividend yield of 1.9%. Citigroup's payout ratio is presently 28.94%.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: China brokerage expansion: Citi expects Beijing approval for its wholly owned China brokerage business as soon as this month and plans to add several dozen employees. The license could strengthen Citi’s presence in China’s capital-markets and wealth businesses. Citi eyes China brokerage unit licence as soon as this month
• Positive Sentiment: Wealth-management hiring: Citi’s wealth unit added senior executives from Apollo and Bank of America as the division extends its growth streak. The appointments signal continued investment in a business that can generate fee income and diversify results beyond traditional lending. Citi wealth unit adds Apollo, Bank of America alums
• Positive Sentiment: Capital returns remain a support: Analysts highlighted Citi’s aggressive buyback and dividend strategy, supported by stronger earnings, excess capital and business simplification. Continued returns could improve per-share earnings and investor sentiment, although they depend on sustained profitability and regulatory approval. Can Citigroup Sustain Its Aggressive Capital Return Strategy?
• Neutral Sentiment: Rate outlook reset: Citi economists moved their forecast for Federal Reserve rate cuts to 2027 after a stronger U.S. jobs report. Delayed easing could support Citi’s net interest income, but it also raises borrowing costs for consumers and businesses and may pressure credit quality and deal activity. Citigroup delays Fed rate-cut forecast to 2027
• Negative Sentiment: Sanctions-related regulatory risk: A UK regulator reportedly fined a Citi unit over breaches involving Russia sanctions. The financial impact may be manageable, but the incident adds compliance costs and reputational risk as investors monitor Citi’s ongoing control improvements. UK fines Citigroup unit over Russia sanctions breaches

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wall Street Zen downgraded Citigroup from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. JPMorgan Chase & Co. raised their target price on shares of Citigroup from $135.50 to $149.00 and gave the company an "overweight" rating in a research report on Monday, July 6th. Argus set a $150.00 price target on shares of Citigroup in a report on Wednesday, July 15th. Oppenheimer cut shares of Citigroup from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 30th. Finally, Morgan Stanley increased 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. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $145.22.

About Citigroup

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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