Ballentine Partners LLC Has $1.52 Million Stake in Citigroup Inc. $C

Key Points

• Ballentine Partners LLC decreased its stake in Citigroup Inc. by 30.6%, holding 17,793 shares valued at approximately $1.52 million after selling 7,842 shares in Q2.
• Citigroup reported quarterly earnings of $1.96 EPS, exceeding estimates, with revenues reaching $21.67 billion, an 8.2% increase year-over-year.
• The company recently raised its quarterly dividend from $0.56 to $0.60 per share, reflecting a positive outlook with a yield of 2.4%.

Ballentine Partners LLC trimmed its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 30.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,793 shares of the company's stock after selling 7,842 shares during the period. Ballentine Partners LLC's holdings in Citigroup were worth $1,515,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. MorganRosel Wealth Management LLC acquired a new stake in shares of Citigroup in the 1st quarter valued at approximately $28,000. American National Bank & Trust acquired a new stake in shares of Citigroup in the 1st quarter valued at approximately $29,000. Accent Capital Management LLC boosted its stake in shares of Citigroup by 106.0% in the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company's stock valued at $29,000 after purchasing an additional 212 shares in the last quarter. Truvestments Capital LLC boosted its stake in shares of Citigroup by 131.6% in the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company's stock valued at $31,000 after purchasing an additional 246 shares in the last quarter. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of Citigroup in the 4th quarter valued at approximately $34,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Up 0.4%

Citigroup stock opened at $102.03 on Friday. 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 Inc. has a 52-week low of $55.51 and a 52-week high of $105.59. The firm has a 50 day moving average price of $96.11 and a two-hundred day moving average price of $81.58. The firm has a market cap of $187.82 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 0.87 and a beta of 1.41.

Citigroup (NYSE:C - Get Free Report) last released its quarterly 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 net margin of 8.44% and a return on equity of 7.29%. The firm had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. During the same quarter last year, the business earned $1.52 EPS. The company's revenue was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. Equities analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.4%. The ex-dividend date was Monday, August 4th. This is a positive change from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio (DPR) is 35.45%.

Insider Transactions at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the transaction, the director owned 2,140 shares in the company, valued at approximately $193,456. This trade represents a 58.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on C shares. Dbs Bank downgraded shares of Citigroup from a "moderate buy" rating to a "hold" rating in a research note on Monday. TD Cowen raised their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company a "hold" rating 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. Evercore ISI set a $77.00 price objective on shares of Citigroup in a report on Monday, July 7th. Finally, Oppenheimer dropped their price objective on shares of Citigroup from $124.00 to $123.00 and set an "outperform" rating for the company in a report on Tuesday. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $98.11.

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.

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