Banque Pictet & Cie SA Sells 7,745 Shares of Citigroup Inc. $C

Key Points

• Banque Pictet & Cie SA sold 7,745 shares of Citigroup, reducing its holdings by 15.6% to 41,946 shares valued at $3,570,000.
• Citigroup's recent performance saw the stock increase by 1.3% and report an earnings per share (EPS) of $1.96, exceeding estimates.
• The company has raised its quarterly dividend from $0.56 to $0.60 per share, reflecting a positive change in its payout strategy.

Banque Pictet & Cie SA reduced its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 15.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 41,946 shares of the company's stock after selling 7,745 shares during the quarter. Banque Pictet & Cie SA's holdings in Citigroup were worth $3,570,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in C. Brighton Jones LLC grew its stake in shares of Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after acquiring an additional 12,499 shares during the period. Centaurus Financial Inc. grew its stake in shares of Citigroup by 5.2% during the 4th quarter. Centaurus Financial Inc. now owns 9,038 shares of the company's stock valued at $636,000 after acquiring an additional 444 shares during the period. Mascagni Wealth Management Inc. bought a new position in shares of Citigroup during the 4th quarter valued at approximately $34,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Citigroup by 7.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 9,006 shares of the company's stock valued at $639,000 after acquiring an additional 601 shares during the period. Finally, Marcum Wealth LLC grew its stake in shares of Citigroup by 7.9% during the 1st quarter. Marcum Wealth LLC now owns 5,483 shares of the company's stock valued at $389,000 after acquiring an additional 403 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

C has been the subject of a number of recent research reports. Dbs Bank downgraded Citigroup from a "moderate buy" rating to a "hold" rating in a research note on Monday, September 22nd. Piper Sandler upped their price target on Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Wall Street Zen upgraded Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. TD Cowen upped their price target on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research note on Wednesday, July 16th. Finally, Oppenheimer dropped their price target on Citigroup from $124.00 to $123.00 and set an "outperform" rating for the company in a research note on Tuesday. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $98.11.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of the company's 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 sale, the director directly owned 2,140 shares of the company's stock, valued at $193,456. This represents a 58.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is owned by company insiders.

Citigroup Stock Up 1.3%

Shares of C opened at $103.41 on Friday. The stock has a market capitalization of $190.37 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 0.88 and a beta of 1.41. Citigroup Inc. has a 1 year low of $55.51 and a 1 year high of $105.59. The business's 50 day simple moving average is $96.30 and its 200-day simple moving average is $81.83. 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 issued its quarterly earnings data 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. The business had revenue of $21.67 billion for the quarter, compared to analysts' expectations of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The company's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

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

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