Boothbay Fund Management LLC Reduces Position in Citigroup Inc. $C

Key Points

• Boothbay Fund Management LLC has reduced its stake in Citigroup Inc. by 4.8%, holding 133,168 shares valued at approximately $9.45 million after selling 6,672 shares in the first quarter.
• Other institutional investors have increased their holdings, with Goldman Sachs growing its position by 179.5%, now owning over 14.5 million shares valued at around $1.03 billion.
• Citigroup recently declared a quarterly dividend of $0.60 per share, up from $0.56, resulting in an annualized dividend yield of 2.5%.

Boothbay Fund Management LLC trimmed its holdings in Citigroup Inc. (NYSE:C - Free Report) by 4.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,168 shares of the company's stock after selling 6,672 shares during the quarter. Boothbay Fund Management LLC's holdings in Citigroup were worth $9,454,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Orion Capital Management LLC bought a new position in shares of Citigroup in the 4th quarter valued at about $28,000. MorganRosel Wealth Management LLC bought a new position in Citigroup during the first quarter valued at $28,000. Accent Capital Management LLC boosted its stake in shares of Citigroup by 106.0% during the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company's stock worth $29,000 after purchasing an additional 212 shares during the period. American National Bank & Trust bought a new position in Citigroup during the 1st quarter valued at about $29,000. Finally, Truvestments Capital LLC grew its holdings in Citigroup by 131.6% during 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 during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Performance

Shares of NYSE:C traded up $0.48 during trading on Monday, hitting $95.88. The stock had a trading volume of 11,388,896 shares, compared to its average volume of 15,577,475. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $97.98. The stock has a market capitalization of $176.50 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 0.82 and a beta of 1.41. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. The stock has a 50-day simple moving average of $92.56 and a two-hundred day simple moving average of $79.22.

Citigroup (NYSE:C - Get Free Report) last announced 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. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The firm had revenue of $21.67 billion during the quarter, compared to analysts' expectations of $20.75 billion. During the same period last year, the business posted $1.52 earnings per share. 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. On average, equities research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were paid a $0.60 dividend. The ex-dividend date was Monday, August 4th. This is a positive change from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. Citigroup's dividend payout ratio (DPR) is currently 35.45%.

Insider Activity at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of the company's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the sale, the director owned 2,140 shares in the company, valued at $193,456. This represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on C shares. The Goldman Sachs Group upped their target price on Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Wells Fargo & Company boosted their price objective on shares of Citigroup from $110.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Morgan Stanley boosted their price objective on shares of Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Cowen began coverage on shares of Citigroup in a research report on Wednesday, May 14th. They issued a "hold" rating for the company. Finally, Evercore ISI set a $77.00 price objective on shares of Citigroup in a research report on Monday, July 7th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $96.96.

About Citigroup

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.