DRW Securities LLC Trims Stake in Citigroup Inc. $C

Key Points

• DRW Securities LLC has significantly cut its holdings in Citigroup Inc. by 77.4% during the first quarter, leaving them with just 4,182 shares valued at $297,000.
• Despite the reduction from DRW Securities, several other institutional investors, including Private Advisory Group LLC and Pinnacle Financial Partners Inc., have increased their stakes in Citigroup during the same period.
• Citigroup recently raised its quarterly dividend from $0.56 to $0.60, representing a 2.5% dividend yield and a payout ratio of 35.45%.

DRW Securities LLC decreased its holdings in Citigroup Inc. (NYSE:C - Free Report) by 77.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,182 shares of the company's stock after selling 14,310 shares during the period. DRW Securities LLC's holdings in Citigroup were worth $297,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brasada Capital Management LP purchased a new position in shares of Citigroup during the first quarter valued at $710,000. Second Line Capital LLC increased its stake in shares of Citigroup by 24.5% during the first quarter. Second Line Capital LLC now owns 3,548 shares of the company's stock valued at $252,000 after buying an additional 699 shares during the period. Hayek Kallen Investment Management boosted its position in Citigroup by 125.0% during the first 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 in the last quarter. Baird Financial Group Inc. boosted its position in Citigroup by 10.2% during the first quarter. Baird Financial Group Inc. now owns 399,529 shares of the company's stock valued at $28,363,000 after purchasing an additional 36,860 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. boosted its position in Citigroup by 8.3% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 5,530 shares of the company's stock valued at $393,000 after purchasing an additional 424 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of the firm'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 completion of the transaction, the director directly owned 2,140 shares in the company, valued at $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.08% of the stock is currently owned by insiders.

Analysts Set New Price Targets

C has been the topic of a number of recent research reports. UBS Group reaffirmed a "neutral" rating and set a $89.00 price objective on shares of Citigroup in a research report on Tuesday, July 15th. Oppenheimer raised their price objective on Citigroup from $123.00 to $124.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. TD Cowen raised their price objective on Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a research report on Wednesday, July 16th. Bank of America raised their price objective on Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Finally, The Goldman Sachs Group raised their price target on Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Citigroup presently has an average rating of "Moderate Buy" and a consensus target price of $96.96.

Citigroup Stock Down 1.7%

NYSE C traded down $1.64 during trading on Friday, hitting $95.44. The company's stock had a trading volume of 17,018,341 shares, compared to its average volume of 12,488,161. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $175.69 billion, a PE ratio of 14.10, a P/E/G ratio of 0.84 and a beta of 1.41. The business's 50 day simple moving average is $92.56 and its 200-day simple moving average is $79.26. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $97.98.

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 analysts anticipate 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. 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 annualized dividend and a dividend yield of 2.5%. Citigroup's dividend payout ratio (DPR) 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.