Columbia Asset Management Sells 95,515 Shares of Citigroup Inc. $C

Key Points

• Columbia Asset Management reduced its holdings in Citigroup Inc. by 76.6%, selling 95,515 shares, and now owns 29,220 shares worth approximately $2.49 million.
• Citigroup's recent quarterly earnings report revealed an EPS of $1.96, surpassing the consensus estimate of $1.61, with a revenue of $21.67 billion.
• The company has declared a dividend increase, now paying $0.60 per quarterly dividend, raising its annual yield to 2.4% from the previous amount of $0.56.

Columbia Asset Management trimmed its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 76.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,220 shares of the company's stock after selling 95,515 shares during the period. Columbia Asset Management's holdings in Citigroup were worth $2,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its holdings in Citigroup by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company's stock worth $2,917,794,000 after acquiring an additional 2,539,769 shares in the last quarter. Northern Trust Corp grew its holdings in Citigroup by 1.0% during the 1st quarter. Northern Trust Corp now owns 20,427,563 shares of the company's stock worth $1,450,153,000 after acquiring an additional 195,013 shares in the last quarter. Invesco Ltd. grew its holdings in Citigroup by 3.6% during the 1st quarter. Invesco Ltd. now owns 16,839,915 shares of the company's stock worth $1,195,466,000 after acquiring an additional 592,820 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Citigroup by 179.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock worth $1,031,790,000 after acquiring an additional 9,334,038 shares in the last quarter. Finally, Amundi grew its holdings in Citigroup by 78.4% during the 1st quarter. Amundi now owns 13,713,517 shares of the company's stock worth $973,523,000 after acquiring an additional 6,026,268 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

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 transaction of $271,200.00. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.08% of the company's stock.

Citigroup Stock Performance

Shares of Citigroup stock opened at $101.52 on Wednesday. The firm has a market capitalization of $186.89 billion, a P/E ratio of 15.00, a PEG ratio of 0.88 and a beta of 1.41. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. The company has a 50 day moving average price of $96.66 and a 200 day moving average price of $82.41. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $105.59.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.61 by $0.35. The firm had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. Citigroup's revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm posted $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. Sell-side analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 4th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, August 4th. This is an increase from Citigroup's previous quarterly dividend of $0.56. Citigroup's payout ratio is 35.45%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on C. Keefe, Bruyette & Woods restated a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. Evercore ISI set a $77.00 price target on shares of Citigroup in a report on Monday, July 7th. Bank of America raised their price target on shares of Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, June 26th. The Goldman Sachs Group raised their price target on shares of Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, Piper Sandler raised their price target on shares of Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Ten investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $99.68.

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.

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