Commerzbank Aktiengesellschaft FI Decreases Holdings in Citigroup Inc. $C

Key Points

• Commerzbank Aktiengesellschaft FI reduced its stake in Citigroup Inc. by 13.1%, selling 3,470 shares in the second quarter, leaving it with shares valued at approximately $1,955,000.
• Citigroup reported earnings of $1.96 EPS for the last quarter, exceeding analyst expectations, with a revenue increase of 8.2% year-over-year.
• The company announced an increase in its quarterly dividend from $0.56 to $0.60 per share, representing a 2.6% dividend yield with a payout ratio of 35.45%.

Commerzbank Aktiengesellschaft FI cut its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 13.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,964 shares of the company's stock after selling 3,470 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Citigroup were worth $1,955,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. MorganRosel Wealth Management LLC purchased a new stake in shares of Citigroup in the 1st quarter worth $28,000. Accent Capital Management LLC increased its stake in shares of Citigroup by 106.0% in the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company's stock worth $29,000 after purchasing an additional 212 shares in the last quarter. DHJJ Financial Advisors Ltd. increased its stake in shares of Citigroup by 157.1% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 414 shares of the company's stock worth $35,000 after purchasing an additional 253 shares in the last quarter. Truvestments Capital LLC increased its stake in shares of Citigroup by 131.6% in the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company's stock worth $31,000 after purchasing an additional 246 shares in the last quarter. Finally, HHM Wealth Advisors LLC increased its stake in shares of Citigroup by 805.2% in the 1st quarter. HHM Wealth Advisors LLC now owns 525 shares of the company's stock worth $37,000 after purchasing an additional 467 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Down 2.1%

C opened at $93.87 on Friday. The firm has a 50-day simple moving average of $97.00 and a two-hundred day simple moving average of $83.71. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $105.59. The company has a market capitalization of $172.81 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 0.84 and a beta of 1.37. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61.

Citigroup (NYSE:C - Get Free Report) last released 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. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The business had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. During the same quarter in the prior year, the firm earned $1.52 EPS. The business's revenue was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. Analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were issued a dividend of $0.60 per share. This is a boost from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Monday, August 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.6%. Citigroup's payout ratio is currently 35.45%.

Insider Activity at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the completion of the transaction, the director 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

C has been the subject of several analyst reports. Morgan Stanley upped their price objective on Citigroup from $107.00 to $129.00 and gave the stock an "overweight" rating in a research note on Monday, September 29th. Truist Financial upped their price objective on Citigroup from $105.00 to $112.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. UBS Group restated a "neutral" rating and issued a $89.00 price objective on shares of Citigroup in a research note on Tuesday, July 15th. Keefe, Bruyette & Woods reaffirmed a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. Finally, Bank of America upped their target price on shares of Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Citigroup presently has an average rating of "Moderate Buy" and a consensus target price of $99.68.

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.

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