BI Asset Management Fondsmaeglerselskab A S Sells 50,764 Shares of Citigroup Inc. $C

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its ownership in Citigroup Inc. by 38% in the first quarter, selling 50,764 shares and now holding 82,934 shares valued at approximately $5,887,000.
• Citigroup announced an increase in its quarterly dividend from $0.56 to $0.60 per share, reflecting a positive change and an annual yield of 2.6%.
• Recent analyst reports have resulted in Citigroup receiving several upgrades, with the average price target now set at $96.54, suggesting a favorable outlook for the stock.

BI Asset Management Fondsmaeglerselskab A S cut its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 38.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,934 shares of the company's stock after selling 50,764 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Citigroup were worth $5,887,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in C. Orion Capital Management LLC acquired a new stake in Citigroup during the 4th quarter worth approximately $28,000. MorganRosel Wealth Management LLC bought a new position in Citigroup during the 1st quarter worth $28,000. Accent Capital Management LLC lifted 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 worth $29,000 after buying an additional 212 shares in the last quarter. American National Bank & Trust bought a new stake in shares of Citigroup in the first quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of Citigroup in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 71.72% of the company's stock.

Wall Street Analyst Weigh In

C has been the topic of a number of recent research reports. Truist Financial raised their price target on shares of Citigroup from $93.00 to $99.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. The Goldman Sachs Group boosted their price target on Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Evercore ISI set a $77.00 price objective on Citigroup in a research note on Monday, July 7th. Finally, Dbs Bank raised Citigroup from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Citigroup currently has an average rating of "Moderate Buy" and an average price target of $96.54.

Citigroup Stock Down 0.7%

Shares of C opened at $93.0820 on Thursday. The firm has a 50 day simple moving average of $88.75 and a two-hundred day simple moving average of $78.11. 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 Inc. has a one year low of $55.51 and a one year high of $96.90. The company has a market cap of $171.35 billion, a P/E ratio of 13.75, a P/E/G ratio of 0.81 and a beta of 1.38.

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

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, August 4th. This is a positive change from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a yield of 2.6%. Citigroup's payout ratio is presently 35.45%.

Insider Activity at Citigroup

In other 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 value of $271,200.00. Following the sale, the director directly 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 SEC, which is accessible through this hyperlink. Company insiders own 0.08% of the company's stock.

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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