First Manhattan CO. LLC. Cuts Stake in Citigroup Inc. $C

Key Points

• First Manhattan CO. LLC reduced its holdings in Citigroup Inc. by 44.4%, ending the first quarter with 15,151 shares valued at approximately $1,076,000.
• Citigroup's shares are currently rated as a "Moderate Buy" by analysts, with a consensus price target of $96.96.
• Citigroup recently increased its quarterly dividend to $0.60 per share, representing a yield of 2.5% and a dividend payout ratio of 35.45%.

First Manhattan CO. LLC. lessened its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 44.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,151 shares of the company's stock after selling 12,103 shares during the quarter. First Manhattan CO. LLC.'s holdings in Citigroup were worth $1,076,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of C. Brighton Jones LLC lifted its position in Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after acquiring an additional 12,499 shares during the period. Benjamin Edwards Inc. lifted its position in Citigroup by 4.4% in the 4th quarter. Benjamin Edwards Inc. now owns 12,073 shares of the company's stock worth $850,000 after buying an additional 512 shares in the last quarter. Cary Street Partners Financial LLC bought a new position in Citigroup during the fourth quarter worth $1,844,000. BOKF NA grew its position in Citigroup by 7.8% during the 4th quarter. BOKF NA now owns 6,298 shares of the company's stock worth $450,000 after acquiring an additional 453 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of Citigroup by 3.6% during the 4th quarter. Cetera Investment Advisers now owns 377,644 shares of the company's stock valued at $26,582,000 after purchasing an additional 13,230 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on C shares. Cowen began coverage on Citigroup in a report on Wednesday, May 14th. They issued a "hold" rating on the stock. UBS Group restated a "neutral" rating and set a $89.00 target price on shares of Citigroup in a research note on Tuesday, July 15th. Wall Street Zen upgraded shares of Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Truist Financial raised their price objective on Citigroup from $99.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Finally, TD Cowen upped their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday, July 16th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $96.96.

Citigroup Price Performance

Shares of NYSE:C traded up $0.48 during trading on Monday, reaching $95.88. The company had a trading volume of 10,796,272 shares, compared to its average volume of 15,563,402. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $176.50 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 0.82 and a beta of 1.41. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $97.98. The firm's fifty day moving average is $92.56 and its 200 day moving average is $79.22.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The business had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same period in the prior year, the company earned $1.52 EPS. Citigroup's revenue for the quarter was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

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

Insider Buying and Selling at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction dated 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 of the company's stock, valued at $193,456. This represents a 58.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.08% of the stock is currently owned by insiders.

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.