Lakewood Capital Management LP Sells 829,000 Shares of Citigroup Inc. $C

Key Points

• Lakewood Capital Management LP sold 829,000 shares of Citigroup in Q3, trimming its stake by 66.7% to 413,839 shares valued at $42.01 million, which is about 3.2% of the firm's portfolio and its 13th-largest holding.
• Citigroup recently reported $1.81 EPS (vs. $1.65 expected) on $19.87B revenue, declared a quarterly dividend of $0.60 (annualized $2.40, ~2.3% yield), and carries a consensus rating of "Moderate Buy" with an average price target of $127.25.

Lakewood Capital Management LP trimmed its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 66.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 413,839 shares of the company's stock after selling 829,000 shares during the quarter. Citigroup comprises approximately 3.2% of Lakewood Capital Management LP's investment portfolio, making the stock its 13th biggest position. Lakewood Capital Management LP's holdings in Citigroup were worth $42,005,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. iSAM Funds UK Ltd acquired a new position in Citigroup in the 3rd quarter valued at about $3,730,000. von Borstel & Associates Inc. acquired a new stake in Citigroup during the third quarter worth approximately $393,000. NorthRock Partners LLC lifted its position in Citigroup by 19.4% during the third quarter. NorthRock Partners LLC now owns 23,692 shares of the company's stock worth $2,405,000 after acquiring an additional 3,855 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in shares of Citigroup by 718.4% during the third quarter. Harvest Fund Management Co. Ltd now owns 11,114 shares of the company's stock worth $1,128,000 after acquiring an additional 9,756 shares during the period. Finally, Tepp RIA LLC acquired a new position in shares of Citigroup in the third quarter valued at approximately $1,363,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Reported insider buying — Rep. Jonathan Jackson disclosed a purchase of up to ~$275K of Citigroup stock, which can be interpreted by some investors as a signal of confidence from an insider-related actor and may provide modest demand support. Recent Report Shows That Rep. Jonathan Jackson Bought Up to $275K Worth of Citigroup Stock
• Positive Sentiment: Execution/innovation milestone — Citi issued its first digitally native structured note via Euroclear’s D‑FMI platform, showcasing product innovation and potential fee/revenue opportunities in wholesale and wealth businesses. That can bolster investor sentiment around Citi’s capital markets capabilities. Citigroup (C) Issues First Digitally Native Structured Note via Euroclear
• Positive Sentiment: Research reputation — Citigroup ranked highly on growth-factor grades among S&P financial holdings and continues to publish influential calls (e.g., upgrades elsewhere). Strong research can support fee business and market influence. Citigroup and Goldman Sachs top growth factor grades among S&P financial holdings
• Neutral Sentiment: Analyst activity — Citi’s research team stuck by coverage/ratings on defense names amid the Iran war and upgraded names like LyondellBasell; these moves matter more to those specific sectors than to Citi’s immediate P&L, though they illustrate active deal and research flow. Citigroup sticks by three missile and defense companies as Iran war rages
• Neutral Sentiment: Talent/industry spinout — An ex‑Citi CIO has launched an AI‑driven wealth manager. Startup activity highlights Citi alumni influence but is unlikely to materially affect Citi’s near‑term earnings. David Bailin: Armed With AI, an Ex-Citi CIO Strives to Shake Up the Industry
• Negative Sentiment: Operational/security risk — Citi instructed staff to evacuate several Dubai/UAE buildings and move to remote work after reported Iranian threats to Western banks. That raises short‑term operational disruption risk, potential security costs, and investor concern about regional exposure. Citigroup Dubai Evacuation Puts Operational Risks And Valuation In Focus
• Negative Sentiment: Recent price weakness context — Coverage summarizing why Citi shares fell more than the market earlier this week points to sector pressure and geopolitical risk; that context still weighs on sentiment and can amplify volatility around Citi. Here's Why Citigroup (C) Fell More Than Broader Market

Citigroup Stock Up 0.1%

Shares of NYSE C opened at $105.65 on Friday. The stock has a market capitalization of $184.82 billion, a P/E ratio of 15.16, a PEG ratio of 0.67 and a beta of 1.17. The stock's fifty day moving average is $114.66 and its 200 day moving average is $107.07. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $125.16. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.00 and a current ratio of 1.00.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data on Wednesday, January 14th. The company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.16. The business had revenue of $19.87 billion during the quarter, compared to analysts' expectations of $20.99 billion. Citigroup had a net margin of 8.50% and a return on equity of 8.28%. Citigroup's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.34 earnings per share. Sell-side analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Monday, February 2nd were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, February 2nd. Citigroup's dividend payout ratio is 34.43%.

Insider Buying and Selling at Citigroup

In related news, insider Cantu Ernesto Torres sold 43,173 shares of the stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $111.09, for a total transaction of $4,796,088.57. Following the sale, the insider owned 45,835 shares in the company, valued at approximately $5,091,810.15. This trade represents a 48.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

C has been the topic of a number of recent research reports. HSBC reiterated a "buy" rating and set a $87.00 target price on shares of Citigroup in a research note on Wednesday, January 7th. Morgan Stanley set a $152.00 price objective on Citigroup in a research report on Tuesday, February 17th. Royal Bank Of Canada reissued an "outperform" rating and set a $121.00 target price on shares of Citigroup in a report on Thursday, January 15th. TD Cowen reaffirmed a "hold" rating on shares of Citigroup in a research report on Wednesday, January 7th. Finally, Piper Sandler set a $135.00 price objective on shares of Citigroup in a report on Thursday, January 15th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Citigroup presently has a consensus rating of "Moderate Buy" and an average price target of $127.25.

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi's principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.

Want to see what other hedge funds are holding C? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citigroup Inc. (NYSE:C - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.