GFG Capital LLC Sells 10,877 Shares of Citigroup Inc. $C

Key Points

• GFG Capital LLC reduced its stake in Citigroup Inc. by 50.5%, selling 10,877 shares and bringing its total holdings to 10,676 shares worth approximately $909,000.
• Citigroup's recent earnings report showed $1.96 earnings per share (EPS), exceeding analysts' expectations by $0.35, along with a revenue increase of 8.2% year-over-year.
• The company increased its quarterly dividend to $0.60, reflecting an annualized rate of $2.40 and a yield of 2.5%, indicating positive financial movement.

GFG Capital LLC trimmed its holdings in Citigroup Inc. (NYSE:C - Free Report) by 50.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,676 shares of the company's stock after selling 10,877 shares during the period. GFG Capital LLC's holdings in Citigroup were worth $909,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in C. Private Advisory Group LLC raised its holdings in shares of Citigroup by 20.8% in the first quarter. Private Advisory Group LLC now owns 69,581 shares of the company's stock valued at $4,940,000 after purchasing an additional 11,978 shares during the last quarter. Brighton Jones LLC increased its holdings in Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after buying an additional 12,499 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Citigroup by 109.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company's stock worth $88,458,000 after buying an additional 649,807 shares during the last quarter. Onyx Bridge Wealth Group LLC purchased a new stake in Citigroup during the first quarter worth about $214,000. Finally, Hayek Kallen Investment Management increased its holdings in Citigroup by 125.0% during the first quarter. Hayek Kallen Investment Management now owns 15,534 shares of the company's stock worth $1,103,000 after buying an additional 8,630 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of the company's 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 sale, the director directly owned 2,140 shares in the company, valued at $193,456. This represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is owned by corporate insiders.

Citigroup Price Performance

Shares of NYSE:C opened at $96.67 on Thursday. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $105.59. The company has a market cap of $177.96 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 0.85 and a beta of 1.37. 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 company's 50 day moving average is $96.92 and its 200 day moving average is $83.43.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. The business had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The company's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the company earned $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Weiss Ratings restated a "buy (b)" rating on shares of Citigroup in a report on Wednesday. Wells Fargo & Company raised their price objective on shares of Citigroup from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Tuesday, September 16th. Truist Financial lifted their target price on shares of Citigroup from $105.00 to $112.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Barclays boosted their price objective on shares of Citigroup from $95.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods reissued a "buy" rating on shares of Citigroup in a research report on Wednesday, July 16th. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.