Jones Financial Companies Lllp Reduces Position in Citigroup Inc. $C

Key Points

• Jones Financial Companies Lllp significantly reduced its stake in Citigroup Inc. by 86.9% in the first quarter, selling 125,070 shares, leaving it with 18,898 shares valued at approximately $1.34 million.
• Several hedge funds increased their positions in Citigroup, with Goldman Sachs Group Inc. growing its stake by 179.5%, now holding over 14 million shares valued at over $1 billion.
• Citigroup announced a quarterly dividend increase from $0.56 to $0.60 per share, representing an annualized amount of $2.40 with a dividend yield of 2.4%.

Jones Financial Companies Lllp decreased its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 86.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,898 shares of the company's stock after selling 125,070 shares during the period. Jones Financial Companies Lllp's holdings in Citigroup were worth $1,342,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in shares of Citigroup by 179.5% in the first quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock valued at $1,031,790,000 after purchasing an additional 9,334,038 shares during the period. Nuveen LLC purchased a new stake in shares of Citigroup in the first quarter valued at $578,100,000. Amundi grew its position in shares of Citigroup by 78.4% in the first quarter. Amundi now owns 13,713,517 shares of the company's stock valued at $973,523,000 after purchasing an additional 6,026,268 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Citigroup by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company's stock valued at $2,917,794,000 after purchasing an additional 2,539,769 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG grew its position in shares of Citigroup by 2,230.8% in the first quarter. B. Metzler seel. Sohn & Co. AG now owns 2,630,308 shares of the company's stock valued at $186,726,000 after purchasing an additional 2,517,459 shares during the period. Hedge funds and other institutional investors own 71.72% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. TD Cowen lifted their price objective on Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a research report on Wednesday, July 16th. Evercore ISI set a $77.00 price objective on Citigroup in a research report on Monday, July 7th. The Goldman Sachs Group increased their target price on Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Truist Financial boosted their price target on Citigroup from $99.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Finally, Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $96.96.

Insider Activity at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the transaction, the director owned 2,140 shares in the company, valued at $193,456. The trade was a 58.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Price Performance

C stock opened at $99.51 on Friday. The stock has a 50-day moving average price of $93.63 and a two-hundred day moving average price of $79.86. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $99.70. 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 market cap of $183.19 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 0.85 and a beta of 1.41.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 EPS 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 return on equity of 7.29% and a net margin of 8.44%.The firm's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. As a group, research analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were paid a dividend of $0.60 per share. This is a boost from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, August 4th. 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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