Continental Advisors LLC Decreases Stock Position in Citigroup Inc. $C

Key Points

• Continental Advisors LLC reduced its stake in Citigroup Inc. by 10.4% in Q1, selling 8,500 shares, which now amounts to $5,178,000 and represents 2.9% of their holdings.
• Citigroup announced a quarterly dividend increase from $0.56 to $0.60, resulting in a yield of 2.5%, while maintaining a relatively low dividend payout ratio of 35.45%.
• Several analysts have raised their target prices for Citigroup, with Goldman Sachs increasing theirs to $96.00, reflecting a consensus rating of Moderate Buy among ten investment analysts.

Continental Advisors LLC lessened its stake in Citigroup Inc. (NYSE:C - Free Report) by 10.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,934 shares of the company's stock after selling 8,500 shares during the quarter. Citigroup comprises about 2.9% of Continental Advisors LLC's holdings, making the stock its 12th largest holding. Continental Advisors LLC's holdings in Citigroup were worth $5,178,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. True Wealth Design LLC boosted its holdings in Citigroup by 11.1% in the 4th quarter. True Wealth Design LLC now owns 1,195 shares of the company's stock worth $84,000 after acquiring an additional 119 shares during the period. Continuum Advisory LLC boosted its holdings in Citigroup by 1.9% in the 4th quarter. Continuum Advisory LLC now owns 6,519 shares of the company's stock worth $459,000 after acquiring an additional 120 shares during the period. Solitude Financial Services boosted its holdings in Citigroup by 0.9% in the 1st quarter. Solitude Financial Services now owns 16,496 shares of the company's stock worth $1,171,000 after acquiring an additional 140 shares during the period. Dorsey & Whitney Trust CO LLC boosted its holdings in Citigroup by 2.1% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 6,902 shares of the company's stock worth $490,000 after acquiring an additional 142 shares during the period. Finally, Insight Inv LLC raised its position in shares of Citigroup by 0.5% in the 1st quarter. Insight Inv LLC now owns 27,268 shares of the company's stock valued at $1,936,000 after purchasing an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insiders Place Their Bets

In other news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction on 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 owned 2,140 shares of the company's stock, valued at approximately $193,456. This represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Evercore ISI set a $77.00 target price on Citigroup in a research report on Monday, July 7th. The Goldman Sachs Group upped their target price on Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Truist Financial upped their target price on Citigroup from $99.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Bank of America upped their target price on Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $89.00 target price on shares of Citigroup in a research report on Tuesday, July 15th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $96.96.

Citigroup Stock Performance

C stock opened at $95.88 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61. The firm has a market cap of $176.50 billion, a P/E ratio of 14.16, a P/E/G ratio of 0.82 and a beta of 1.41. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $97.98. The stock's 50 day simple moving average is $92.78 and its 200 day simple moving average is $79.33.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results 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. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The firm had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same period last year, the company earned $1.52 earnings per share. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were given a $0.60 dividend. This is a boost from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Monday, August 4th. Citigroup's dividend payout ratio is 35.45%.

Citigroup Company 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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