FJ Capital Management LLC Cuts Stock Position in Citigroup Inc. $C

Key Points

• FJ Capital Management LLC reduced its stake in Citigroup by 5.5%, selling 3,559 shares, bringing its total holdings down to 61,545 shares valued at approximately $4.37 million.
• Multiple institutional investors have recently increased their holdings in Citigroup, with notable boosts from Private Advisory Group LLC (20.8%) and Pinnacle Financial Partners Inc (495.1%).
• Analysts have raised their price targets for Citigroup, with projections now ranging from $96.00 to $107.00, indicating a general optimism about the stock's performance.

FJ Capital Management LLC cut its stake in Citigroup Inc. (NYSE:C - Free Report) by 5.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,545 shares of the company's stock after selling 3,559 shares during the period. FJ Capital Management LLC's holdings in Citigroup were worth $4,369,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Private Advisory Group LLC boosted its stake in Citigroup by 20.8% in the 1st quarter. Private Advisory Group LLC now owns 69,581 shares of the company's stock worth $4,940,000 after purchasing an additional 11,978 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Citigroup by 109.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company's stock valued at $88,458,000 after acquiring an additional 649,807 shares during the period. Brighton Jones LLC lifted its stake in Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after acquiring an additional 12,499 shares during the period. Onyx Bridge Wealth Group LLC acquired a new stake in Citigroup during the 1st quarter valued at approximately $214,000. Finally, Pinnacle Financial Partners Inc lifted its stake in Citigroup by 495.1% during the 1st quarter. Pinnacle Financial Partners Inc now owns 18,554 shares of the company's stock valued at $1,317,000 after acquiring an additional 15,436 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Bank of America increased their price target on shares of Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Barclays increased their price target on shares of Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Morgan Stanley increased their price target on shares of Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. The Goldman Sachs Group increased their price target on shares of Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Cowen started coverage on shares of Citigroup in a report on Wednesday, May 14th. They set a "hold" rating on the stock. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Citigroup currently has an average rating of "Moderate Buy" and a consensus target price of $96.54.

Insider Activity at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the company's 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 transaction, the director directly owned 2,140 shares in the company, valued at approximately $193,456. This represents a 58.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.08% of the stock is owned by corporate insiders.

Citigroup Stock Down 0.3%

Shares of Citigroup stock opened at $96.54 on Monday. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $97.49. The company has a market capitalization of $177.72 billion, a P/E ratio of 14.26, a P/E/G ratio of 0.83 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 of $91.23 and a 200 day moving average of $78.80.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. The company 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 firm's revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm 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. The ex-dividend date was Monday, August 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.5%. This is a boost from Citigroup's previous quarterly dividend of $0.56. Citigroup's payout ratio is presently 35.45%.

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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