Focus Financial Network Inc. Cuts Holdings in Citigroup Inc. $C

Key Points

• Focus Financial Network Inc. decreased its holdings in Citigroup Inc. by 33.2% in the second quarter, resulting in ownership of 7,500 shares valued at $638,000.
• Citigroup recently reported earnings of $1.96 per share for the last quarter, surpassing analysts' expectations and achieving a revenue of $21.67 billion, reflecting an 8.2% increase year-over-year.
• The company announced a dividend increase, raising its quarterly payout from $0.56 to $0.60, which equates to an annualized yield of 2.3%.

Focus Financial Network Inc. reduced its position in Citigroup Inc. (NYSE:C - Free Report) by 33.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,500 shares of the company's stock after selling 3,726 shares during the quarter. Focus Financial Network Inc.'s holdings in Citigroup were worth $638,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC bought a new position in Citigroup in the 1st quarter worth about $28,000. American National Bank & Trust bought a new position in Citigroup in the 1st quarter worth about $29,000. Accent Capital Management LLC grew its stake in Citigroup by 106.0% in the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company's stock worth $29,000 after acquiring an additional 212 shares in the last quarter. Truvestments Capital LLC grew its stake in Citigroup by 131.6% in the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company's stock worth $31,000 after acquiring an additional 246 shares in the last quarter. Finally, Mascagni Wealth Management Inc. bought a new position in Citigroup in the 4th quarter worth about $34,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction 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 completion of the transaction, the director owned 2,140 shares of the company's stock, valued at approximately $193,456. The trade was a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.08% of the company's stock.

Citigroup Stock Performance

NYSE C traded up $0.34 on Tuesday, reaching $103.83. 7,226,259 shares of the company's stock traded hands, compared to its average volume of 15,436,479. The firm has a market cap of $191.14 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 0.88 and a beta of 1.41. The stock has a 50 day moving average price of $95.45 and a 200-day moving average price of $81.05. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $105.59. 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 (NYSE:C - Get Free Report) last posted its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. The company had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The firm's quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. Equities research analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were issued a $0.60 dividend. The ex-dividend date of this dividend 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 yield of 2.3%. Citigroup's dividend payout ratio is presently 35.45%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Evercore ISI set a $77.00 target price on shares of Citigroup in a research note on Monday, July 7th. TD Cowen upped their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research note on Wednesday, July 16th. Piper Sandler increased their price objective on shares of Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Zacks Research downgraded shares of Citigroup from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 15th. Finally, Keefe, Bruyette & Woods reiterated a "buy" rating on shares of Citigroup in a research note on Wednesday, July 16th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.68.

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.