Clear Harbor Asset Management LLC Sells 18,271 Shares of Citigroup Inc. $C

Key Points

• Clear Harbor Asset Management LLC has reduced its stake in Citigroup Inc. by 16.9%, owning 89,626 shares worth approximately $7.63 million after selling 18,271 shares in Q2.
• Several institutional investors increased their positions in Citigroup, with Goldman Sachs Group Inc. notably raising its stake by 179.5%, now owning over 14 million shares.
• Citigroup recently announced a quarterly dividend increase to $0.60 per share, up from $0.56, representing an annualized yield of 2.3%.

Clear Harbor Asset Management LLC lessened its holdings in Citigroup Inc. (NYSE:C - Free Report) by 16.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,626 shares of the company's stock after selling 18,271 shares during the period. Clear Harbor Asset Management LLC's holdings in Citigroup were worth $7,629,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of C. Brighton Jones LLC lifted its stake in shares of Citigroup by 166.9% in 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 last quarter. State of Wyoming acquired a new stake in shares of Citigroup in the 4th quarter valued at $145,000. Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of Citigroup in the 4th quarter valued at $232,000. GF Fund Management CO. LTD. acquired a new stake in shares of Citigroup in the 4th quarter valued at $66,000. Finally, North Star Asset Management Inc. lifted its position in Citigroup by 4.9% during the 4th quarter. North Star Asset Management Inc. now owns 3,698 shares of the company's stock worth $260,000 after acquiring an additional 172 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.

Insider Transactions at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the firm's stock in a transaction that occurred 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 transaction, the director directly owned 2,140 shares of the company's stock, valued at approximately $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.08% of the company's stock.

Citigroup Price Performance

Citigroup stock traded up $0.88 during trading hours on Monday, hitting $103.56. 11,434,353 shares of the stock were exchanged, compared to its average volume of 12,393,878. 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 stock has a market capitalization of $190.64 billion, a P/E ratio of 15.30, a P/E/G ratio of 0.88 and a beta of 1.41. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $103.81. The business's 50-day moving average is $95.45 and its two-hundred day moving average is $81.05.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.35. The firm had revenue of $21.67 billion for the quarter, compared to analysts' expectations of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. Equities research analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were given a dividend of $0.60 per share. 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 dividend on an annualized basis and a dividend yield of 2.3%. Citigroup's dividend payout ratio (DPR) is currently 35.45%.

Wall Street Analysts Forecast Growth

C has been the subject of a number of research analyst reports. Evercore ISI set a $77.00 target price on shares of Citigroup in a research report on Monday, July 7th. Bank of America boosted their target price on shares of Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Barclays boosted their target price on shares of Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. UBS Group reissued a "neutral" rating and set a $89.00 target price on shares of Citigroup in a research report on Tuesday, July 15th. Finally, Piper Sandler boosted their target price on shares of Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $97.68.

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.