Citigroup Inc. $C Shares Sold by Patten & Patten Inc. TN

Key Points

• Patten & Patten Inc. has reduced its holdings in Citigroup by 7.6%, now owning 43,058 shares worth approximately $3.67 million as per the latest SEC filing.
• Several institutional investors have increased their stakes in Citigroup, with OVERSEA CHINESE BANKING Corp Ltd. experiencing the highest increase of 109.0% in the first quarter.
• Citigroup recently announced a quarterly dividend of $0.60 per share, which will be paid on November 26th, representing an annualized yield of 2.4%.

Patten & Patten Inc. TN reduced its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 7.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,058 shares of the company's stock after selling 3,550 shares during the quarter. Patten & Patten Inc. TN's holdings in Citigroup were worth $3,665,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Advisory Group LLC boosted its position in shares of Citigroup by 20.8% during the 1st quarter. Private Advisory Group LLC now owns 69,581 shares of the company's stock worth $4,940,000 after acquiring an additional 11,978 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Citigroup by 109.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company's stock worth $88,458,000 after acquiring an additional 649,807 shares in the last quarter. Brighton Jones LLC boosted 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 worth $1,407,000 after acquiring an additional 12,499 shares in the last quarter. Onyx Bridge Wealth Group LLC acquired a new position in shares of Citigroup during the 1st quarter worth about $214,000. Finally, Hayek Kallen Investment Management boosted its position in shares of Citigroup by 125.0% in the 1st quarter. Hayek Kallen Investment Management now owns 15,534 shares of the company's stock valued at $1,103,000 after purchasing an additional 8,630 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. The Goldman Sachs Group reissued a "buy" rating and issued a $118.00 target price on shares of Citigroup in a research report on Tuesday. Morgan Stanley upped their target price on Citigroup from $129.00 to $134.00 and gave the company an "overweight" rating in a research report on Wednesday. Keefe, Bruyette & Woods reissued a "buy" rating on shares of Citigroup in a research report on Wednesday, July 16th. Oppenheimer decreased their target price on Citigroup from $124.00 to $123.00 and set an "outperform" rating for the company in a research report on Tuesday, September 23rd. Finally, Wells Fargo & Company upped their target price on Citigroup from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Tuesday, September 16th. Eleven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $105.90.

Citigroup Stock Down 0.1%

Citigroup stock opened at $99.73 on Thursday. The stock has a market capitalization of $183.59 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 0.87 and a beta of 1.37. The stock has a 50 day moving average of $97.40 and a two-hundred day moving average of $84.27. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $105.59. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.62.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, October 14th. The company reported $1.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.89 by ($0.03). The business had revenue of $22.09 billion for the quarter, compared to analysts' expectations of $20.92 billion. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The business's quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the company posted $1.51 earnings per share. Citigroup has set its FY 2025 guidance at EPS. As a group, research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 3rd will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, November 3rd. Citigroup's dividend payout ratio is 35.45%.

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.

Want to see what other hedge funds are holding C? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citigroup Inc. (NYSE:C - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.