FNY Investment Advisers LLC Cuts Stock Holdings in Citigroup Inc. $C

Key Points

• FNY Investment Advisers LLC significantly reduced its holdings in Citigroup Inc. by 48.6% during the second quarter, now owning 6,584 shares valued at approximately $560,000.
• Despite FNY's divestment, other institutional investors like D.A. Davidson & CO. and Blume Capital Management Inc. increased their stakes in Citigroup, indicating varied investor sentiment.
• Citigroup reported $1.86 earnings per share for the most recent quarter, which was below analyst expectations, but its revenue of $22.09 billion exceeded forecasts.

FNY Investment Advisers LLC trimmed its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 48.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,584 shares of the company's stock after selling 6,226 shares during the period. FNY Investment Advisers LLC's holdings in Citigroup were worth $560,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. D.A. Davidson & CO. boosted its position in Citigroup by 7.7% during the second quarter. D.A. Davidson & CO. now owns 84,853 shares of the company's stock valued at $7,223,000 after buying an additional 6,087 shares during the period. Blume Capital Management Inc. boosted its holdings in shares of Citigroup by 8.0% during the second quarter. Blume Capital Management Inc. now owns 154,233 shares of the company's stock worth $13,128,000 after purchasing an additional 11,485 shares during the period. Cullen Frost Bankers Inc. boosted its holdings in shares of Citigroup by 11.7% during the second quarter. Cullen Frost Bankers Inc. now owns 192,160 shares of the company's stock worth $16,357,000 after purchasing an additional 20,199 shares during the period. Jackson Thornton Wealth Management LLC purchased a new stake in shares of Citigroup during the second quarter worth about $241,000. Finally, Klingman & Associates LLC boosted its holdings in shares of Citigroup by 401.8% during the second quarter. Klingman & Associates LLC now owns 18,276 shares of the company's stock worth $1,556,000 after purchasing an additional 14,634 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Price Performance

Shares of Citigroup stock opened at $98.29 on Wednesday. Citigroup Inc. has a one year low of $55.51 and a one year high of $105.59. The stock's fifty day moving average is $97.78 and its 200 day moving average is $85.24. The stock has a market cap of $180.94 billion, a P/E ratio of 13.80, a P/E/G ratio of 0.84 and a beta of 1.37. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.99 and a current ratio of 0.99.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, October 14th. The company reported $1.86 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.03). The firm had revenue of $22.09 billion during the quarter, compared to the consensus estimate of $20.92 billion. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The company's quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.51 EPS. Citigroup has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 3rd will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Monday, November 3rd. Citigroup's dividend payout ratio is 33.71%.

Analysts Set New Price Targets

C has been the subject of a number of analyst reports. Keefe, Bruyette & Woods increased their target price on shares of Citigroup from $112.00 to $118.00 and gave the stock an "outperform" rating in a report on Friday, October 17th. Wells Fargo & Company raised their price objective on shares of Citigroup from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. Dbs Bank lowered shares of Citigroup from a "moderate buy" rating to a "hold" rating in a report on Monday, September 22nd. Oppenheimer lowered their price objective on shares of Citigroup from $124.00 to $123.00 and set an "outperform" rating for the company in a report on Tuesday, September 23rd. Finally, TD Cowen raised their price objective on shares of Citigroup from $105.00 to $110.00 and gave the stock a "hold" rating in a report on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $107.63.

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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