Lyell Wealth Management LP Sells 28,100 Shares of Citigroup Inc. $C

Key Points

• Lyell Wealth Management LP significantly reduced its holdings in Citigroup Inc. by 65.7%, selling 28,100 shares during the second quarter.
• Citigroup reported $1.86 EPS for the last quarter, missing analysts' estimates by $0.03, despite a 9.3% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.60, set to be paid on November 26th, with an annualized dividend yield of 2.5%.

Lyell Wealth Management LP reduced its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 65.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,667 shares of the company's stock after selling 28,100 shares during the period. Lyell Wealth Management LP's holdings in Citigroup were worth $1,248,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Balboa Wealth Partners increased its stake in shares of Citigroup by 39.4% in the 2nd quarter. Balboa Wealth Partners now owns 3,955 shares of the company's stock worth $337,000 after purchasing an additional 1,117 shares in the last quarter. Calamos Wealth Management LLC grew its holdings in Citigroup by 22.1% during the second quarter. Calamos Wealth Management LLC now owns 4,893 shares of the company's stock valued at $416,000 after purchasing an additional 886 shares during the period. Salomon & Ludwin LLC increased its position in Citigroup by 115.8% in the second quarter. Salomon & Ludwin LLC now owns 671 shares of the company's stock worth $58,000 after buying an additional 360 shares in the last quarter. Forvis Mazars Wealth Advisors LLC bought a new position in shares of Citigroup in the second quarter worth about $201,000. Finally, Chicago Partners Investment Group LLC lifted its position in shares of Citigroup by 16.8% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 22,140 shares of the company's stock valued at $1,885,000 after buying an additional 3,190 shares in the last quarter. Institutional investors own 71.72% of the company's stock.

Citigroup Price Performance

NYSE:C opened at $97.10 on Monday. The business's 50-day moving average is $97.59 and its 200 day moving average is $84.86. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $105.59. The company has a market capitalization of $178.75 billion, a P/E ratio of 13.64, a P/E/G ratio of 0.82 and a beta of 1.37. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.62.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, October 14th. The company reported $1.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.89 by ($0.03). The firm had revenue of $22.09 billion during the quarter, compared to the consensus estimate of $20.92 billion. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The business's revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.51 EPS. Citigroup has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 3rd will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, November 3rd. Citigroup's dividend payout ratio (DPR) is presently 33.71%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on C shares. Zacks Research lowered shares of Citigroup from a "strong-buy" rating to a "hold" rating in a report on Monday, September 15th. Morgan Stanley raised their price objective on shares of Citigroup from $129.00 to $134.00 and gave the company an "overweight" rating in a research report on Wednesday, October 15th. Dbs Bank cut shares of Citigroup from a "moderate buy" rating to a "hold" rating in a research note on Monday, September 22nd. Piper Sandler increased their price target on Citigroup from $107.00 to $110.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, UBS Group restated a "neutral" rating and issued a $89.00 price objective on shares of Citigroup in a research report on Tuesday, July 15th. Eleven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $107.63.

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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