Janney Montgomery Scott LLC Sells 26,603 Shares of Citigroup Inc. $C

Key Points

• Janney Montgomery Scott LLC reduced its stake in Citigroup by 4.2%, selling 26,603 shares and now holding a total of 606,026 shares worth approximately $51.6 million.
• Citigroup recently declared a quarterly dividend of $0.60 per share, an increase from the previous $0.56, reflecting a positive shift for investors.
• Analysts have been optimistic about Citigroup, with several raising price targets, including Truist Financial increasing its target from $105.00 to $112.00, indicating a strong outlook for the stock.

Janney Montgomery Scott LLC lowered its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 4.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 606,026 shares of the company's stock after selling 26,603 shares during the quarter. Janney Montgomery Scott LLC's holdings in Citigroup were worth $51,585,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Secure Asset Management LLC raised its position in Citigroup by 3.7% during the second quarter. Secure Asset Management LLC now owns 3,290 shares of the company's stock valued at $280,000 after purchasing an additional 118 shares in the last quarter. Golden State Equity Partners increased its position in shares of Citigroup by 0.6% during the 2nd quarter. Golden State Equity Partners now owns 21,634 shares of the company's stock valued at $1,842,000 after purchasing an additional 122 shares during the last quarter. Wedmont Private Capital raised its holdings in shares of Citigroup by 0.5% during the 2nd quarter. Wedmont Private Capital now owns 23,706 shares of the company's stock valued at $2,034,000 after buying an additional 129 shares in the last quarter. RDA Financial Network lifted its position in Citigroup by 3.4% in the 2nd quarter. RDA Financial Network now owns 3,940 shares of the company's stock worth $335,000 after buying an additional 130 shares during the last quarter. Finally, Solitude Financial Services boosted its stake in Citigroup by 0.9% in the first quarter. Solitude Financial Services now owns 16,496 shares of the company's stock worth $1,171,000 after buying an additional 140 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the transaction, the director directly owned 2,140 shares of the company's stock, valued at approximately $193,456. The trade was a 58.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.08% of the company's stock.

Citigroup Stock Performance

Shares of NYSE:C opened at $101.52 on Wednesday. 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 has a 50-day moving average price of $96.66 and a 200-day moving average price of $82.41. The company has a market cap of $186.89 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 0.88 and a beta of 1.41. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $105.59.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The company had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. During the same quarter in the previous year, the business earned $1.52 EPS. Citigroup's revenue was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 4th were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, August 4th. This is a positive change from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a yield of 2.4%. Citigroup's payout ratio is 35.45%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Truist Financial lifted their price target on shares of Citigroup from $105.00 to $112.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Bank of America lifted their target price on shares of Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. TD Cowen upped their price target on shares of Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a research report on Wednesday, July 16th. Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Evercore ISI set a $77.00 target price on Citigroup in a research note on Monday, July 7th. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $99.68.

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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