Kestra Advisory Services LLC Sells 45,881 Shares of Citigroup Inc. $C

Key Points

• Kestra Advisory Services LLC has reduced its stock holdings in Citigroup by 26.1%, ending the first quarter with approximately $9.2 million in Citigroup shares.
• Citigroup recently declared a quarterly dividend of $0.60 per share, an increase from the previous $0.56, resulting in an annual dividend yield of 2.5%.
• Several institutions, including Goldman Sachs Group and Price T Rowe Associates, have significantly increased their positions in Citigroup, contributing to a high institutional ownership of 71.72%.

Kestra Advisory Services LLC lowered its position in Citigroup Inc. (NYSE:C - Free Report) by 26.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,845 shares of the company's stock after selling 45,881 shares during the quarter. Kestra Advisory Services LLC's holdings in Citigroup were worth $9,218,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Private Advisory Group LLC grew its stake in 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 in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in Citigroup by 109.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company's stock valued at $88,458,000 after purchasing an additional 649,807 shares in the last quarter. Brighton Jones LLC grew its stake in Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after purchasing an additional 12,499 shares in the last quarter. Onyx Bridge Wealth Group LLC purchased a new position in Citigroup in the first quarter valued at about $214,000. Finally, Pinnacle Financial Partners Inc grew its stake in Citigroup by 495.1% in the first quarter. Pinnacle Financial Partners Inc now owns 18,554 shares of the company's stock valued at $1,317,000 after purchasing an additional 15,436 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Citigroup Stock Performance

Shares of NYSE C traded up $1.26 during trading hours on Wednesday, hitting $96.98. 11,241,921 shares of the company's stock were exchanged, compared to its average volume of 14,047,286. Citigroup Inc. has a 1-year low of $55.51 and a 1-year high of $97.45. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $178.52 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 0.83 and a beta of 1.38. The company's 50-day moving average price is $90.50 and its 200-day moving average price is $78.62.

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

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were issued a $0.60 dividend. 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. This represents a $2.40 annualized dividend and a yield of 2.5%. Citigroup's payout ratio is currently 35.45%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on C. TD Cowen boosted their price target on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday, July 16th. Keefe, Bruyette & Woods reaffirmed a "buy" rating on shares of Citigroup in a research report on Wednesday, July 16th. Morgan Stanley boosted their price target on Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Bank of America boosted their price target on Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Finally, Cowen began coverage on Citigroup in a research report on Wednesday, May 14th. They issued a "hold" rating for the company. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $96.54.

Insider Buying and Selling

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director owned 2,140 shares of the company's stock, valued at $193,456. This represents a 58.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.08% of the stock is currently owned by company insiders.

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.