Citigroup Inc. $C Shares Sold by HighTower Advisors LLC

Key Points

• HighTower Advisors reduced its Citigroup stake by 6.3% in the second quarter, selling 21,442 shares and retaining 321,021 shares valued at approximately $44.9 million. Institutional investors collectively own 71.72% of Citi’s stock.
• Citigroup exceeded quarterly expectations: adjusted earnings were $3.15 per share versus the $2.74 consensus, while revenue rose 14.5% year over year to $24.77 billion. The bank also increased its quarterly dividend from $0.60 to $0.67 per share.
• Analyst sentiment remains moderately bullish, with a consensus “Moderate Buy” rating and an average price target of $145.22. Potential Chinese brokerage approval and expanded cross-border payments offer growth opportunities, though a capital-markets slowdown could pressure results.

HighTower Advisors LLC lowered its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 6.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 321,021 shares of the company's stock after selling 21,442 shares during the period. HighTower Advisors LLC's holdings in Citigroup were worth $44,930,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of C. Compass Financial Management LLC bought a new stake in Citigroup during the second quarter worth approximately $898,000. UniSuper Management Pty Ltd boosted its stake in Citigroup by 38.8% during the 4th quarter. UniSuper Management Pty Ltd now owns 1,306,851 shares of the company's stock valued at $152,496,000 after purchasing an additional 365,041 shares in the last quarter. Brighton Jones LLC increased its position 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 purchasing an additional 12,499 shares during the period. Allstate Corp increased its position in shares of Citigroup by 110.4% during the 4th quarter. Allstate Corp now owns 140,596 shares of the company's stock valued at $16,406,000 after purchasing an additional 73,758 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of Citigroup by 6.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 444,002 shares of the company's stock worth $51,811,000 after buying an additional 27,130 shares in the last quarter. Institutional investors own 71.72% of the company's stock.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Potential China brokerage approval: Citi could receive final Chinese regulatory approval as soon as September 2026 for its wholly owned mainland brokerage. The bank has been preparing the business since applying in 2021 and reportedly plans to roughly double staffing, targeting technology, healthcare, consumer and financial-services clients. Approval would give Citi a larger onshore presence and potentially broaden long-term revenue opportunities. Citigroup Moves Deeper Into China’s Capital Markets as Competition Intensifies
• Positive Sentiment: Cross-border payments milestone: Citi and Singapore’s DBS completed the first Singapore-to-U.S. dollar payment over a weekend. The transaction demonstrates expanded payment availability and may strengthen Citi’s position in global transaction banking, although the immediate earnings impact is likely limited. Citi and DBS Mark First Singapore-to-US Weekend Dollar Transaction
• Negative Sentiment: Capital-markets slowdown risk: A report warns that momentum in capital markets is fading during the third quarter. Weaker trading, investment-banking or underwriting activity could create uneven results for large banks, including Citi, and limit the benefit from its broader growth initiatives. Capital Markets Momentum Fades: What It Means for Big Banks in Q3

Citigroup Stock Performance

C opened at $137.80 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.71. The firm has a market cap of $235.03 billion, a PE ratio of 14.88, a P/E/G ratio of 0.62 and a beta of 1.12. The business has a fifty day simple moving average of $135.16 and a 200-day simple moving average of $127.72. Citigroup Inc. has a fifty-two week low of $93.66 and a fifty-two week high of $147.96.

Citigroup (NYSE:C - Get Free Report) last announced its earnings results on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, topping the consensus estimate of $2.74 by $0.41. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The company had revenue of $24.77 billion during the quarter, compared to analysts' expectations of $23.74 billion. During the same period last year, the company posted $1.96 earnings per share. The business's revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities analysts predict that Citigroup Inc. will post 11.21 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 3rd were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from Citigroup's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, August 3rd. Citigroup's dividend payout ratio (DPR) is currently 28.94%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Citigroup from $135.50 to $149.00 and gave the company an "overweight" rating in a report on Monday, July 6th. Evercore set a $143.00 price target on shares of Citigroup in a research report on Monday, July 6th. Truist Financial cut their price target on shares of Citigroup from $158.00 to $154.00 and set a "buy" rating for the company in a report on Wednesday, July 15th. Oppenheimer lowered shares of Citigroup from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 30th. Finally, Morgan Stanley lifted their price objective on shares of Citigroup from $154.00 to $164.00 and gave the stock an "overweight" rating in a research note on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $145.22.

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi's principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.

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