LGT Fund Management Co Ltd. Cuts Stake in Citigroup Inc. $C

Key Points

• LGT Fund Management Co Ltd. reduced its stake in Citigroup by 54.6%, ending the second quarter with 34,028 shares after selling 41,000 shares.
• Despite this decrease, several large investors, including Price T Rowe Associates and Goldman Sachs, have increased their positions in Citigroup, reflecting ongoing interest from institutional investors.
• Citigroup's equity analysts are optimistic, with multiple firms raising their price targets, and the stock currently holds a consensus rating of "Moderate Buy" with an average price target of $99.68.

LGT Fund Management Co Ltd. lowered its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 54.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,028 shares of the company's stock after selling 41,000 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in Citigroup were worth $2,896,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in Citigroup by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company's stock worth $2,917,794,000 after buying an additional 2,539,769 shares during the last quarter. Northern Trust Corp raised its position in Citigroup by 1.0% during the 1st quarter. Northern Trust Corp now owns 20,427,563 shares of the company's stock worth $1,450,153,000 after buying an additional 195,013 shares during the last quarter. Invesco Ltd. raised its position in Citigroup by 3.6% during the 1st quarter. Invesco Ltd. now owns 16,839,915 shares of the company's stock worth $1,195,466,000 after buying an additional 592,820 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Citigroup by 179.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock worth $1,031,790,000 after buying an additional 9,334,038 shares during the last quarter. Finally, Amundi increased its holdings in shares of Citigroup by 78.4% in the 1st 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 in the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insider Activity

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the sale, the director directly owned 2,140 shares of the company's stock, valued at $193,456. This trade represents a 58.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Citigroup in a report on Saturday, September 27th. Bank of America increased their price target on shares of Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Truist Financial increased their price target on shares of Citigroup from $105.00 to $112.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Oppenheimer cut their price target on shares of Citigroup from $124.00 to $123.00 and set an "outperform" rating for the company in a report on Tuesday, September 23rd. Finally, Wells Fargo & Company increased their price target on shares of Citigroup from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, Citigroup currently has a consensus rating of "Moderate Buy" and an average price target of $99.68.

Citigroup Price Performance

Citigroup stock opened at $97.58 on Friday. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $105.59. The stock has a market capitalization of $179.64 billion, a P/E ratio of 14.41, a P/E/G ratio of 0.83 and a beta of 1.37. The firm's 50-day moving average is $96.79 and its two-hundred day moving average is $82.89. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results 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. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company had revenue of $21.67 billion for the quarter, compared to analysts' expectations of $20.75 billion. During the same period last year, the company earned $1.52 EPS. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. Equities analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current 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 paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.5%. This is an increase from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio is 35.45%.

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.

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