Kaufman Rossin Wealth LLC Trims Stock Position in Citigroup Inc. $C

Key Points

• Kaufman Rossin Wealth LLC has decreased its holdings in Citigroup Inc. by 56.1%, owning only 3,121 shares after selling 3,990 shares in the second quarter, which are valued at around $266,000.
• Numerous institutional investors, including Brighton Jones LLC and Waverly Advisors LLC, have recently increased their stakes in Citigroup, indicating a shift in investor sentiment.
• Citigroup announced a quarterly dividend increase to $0.60 per share, reflecting a commitment to returning value to shareholders, with a current yield of 2.3%.

Kaufman Rossin Wealth LLC decreased its holdings in Citigroup Inc. (NYSE:C - Free Report) by 56.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,121 shares of the company's stock after selling 3,990 shares during the quarter. Kaufman Rossin Wealth LLC's holdings in Citigroup were worth $266,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Farther Finance Advisors LLC raised its stake in Citigroup by 14.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 31,914 shares of the company's stock worth $2,717,000 after acquiring an additional 4,000 shares during the period. Silver Oak Securities Incorporated boosted its stake in Citigroup by 29.4% during the second quarter. Silver Oak Securities Incorporated now owns 8,458 shares of the company's stock worth $720,000 after buying an additional 1,922 shares during the period. CX Institutional boosted its stake in Citigroup by 12.1% during the second quarter. CX Institutional now owns 15,331 shares of the company's stock worth $1,305,000 after buying an additional 1,651 shares during the period. Shelton Wealth Management LLC boosted its stake in Citigroup by 8.0% during the second quarter. Shelton Wealth Management LLC now owns 15,388 shares of the company's stock worth $1,310,000 after buying an additional 1,134 shares during the period. Finally, My Legacy Advisors LLC boosted its stake in shares of Citigroup by 4.6% during the second quarter. My Legacy Advisors LLC now owns 10,416 shares of the company's stock valued at $907,000 after purchasing an additional 460 shares during the period. Hedge funds and other institutional investors own 71.72% of the company's stock.

Citigroup Price Performance

NYSE:C traded up $0.88 during trading hours on Monday, hitting $103.56. The company's stock had a trading volume of 11,434,353 shares, compared to its average volume of 15,484,444. The business's 50-day moving average is $95.12 and its two-hundred day moving average is $80.82. The company has a market capitalization of $190.64 billion, a PE ratio of 15.30, a PEG ratio of 0.88 and a beta of 1.41. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $103.81.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.35. The firm had revenue of $21.67 billion during 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%.Citigroup's revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal 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 2.3%. 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%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Zacks Research lowered shares of Citigroup from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 15th. Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Oppenheimer raised their price objective on Citigroup from $123.00 to $124.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, Evercore ISI set a $77.00 price target on Citigroup in a report on Monday, July 7th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $97.68.

Insiders Place Their Bets

In other Citigroup 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 owned 2,140 shares of the company's stock, valued at approximately $193,456. This represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.08% of the company's stock.

Citigroup Company 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.