NorthCrest Asset Manangement LLC Reduces Stock Position in Citigroup Inc. $C

Key Points

• NorthCrest Asset Management LLC reduced its stock holdings in Citigroup Inc. by 2.7%, now owning 165,017 shares worth approximately $14.6 million.
• Citigroup recently reported $1.96 earnings per share for the quarter, surpassing analysts' expectations and posting an 8.2% revenue increase year-over-year.
• The company declared a quarterly dividend increase to $0.60 per share, representing an annualized yield of 2.4% with a payout ratio of 35.45%.

NorthCrest Asset Manangement LLC decreased its holdings in Citigroup Inc. (NYSE:C - Free Report) by 2.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 165,017 shares of the company's stock after selling 4,569 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Citigroup were worth $14,640,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Orion Capital Management LLC bought a new stake in Citigroup during the 4th quarter worth approximately $28,000. MorganRosel Wealth Management LLC purchased a new position in shares of Citigroup in the first quarter valued at $28,000. Accent Capital Management LLC boosted its stake in Citigroup by 106.0% during the first quarter. Accent Capital Management LLC now owns 412 shares of the company's stock worth $29,000 after buying an additional 212 shares during the period. American National Bank & Trust purchased a new position in Citigroup during the first quarter worth $29,000. Finally, Truvestments Capital LLC boosted its stake in shares of Citigroup by 131.6% during the first quarter. Truvestments Capital LLC now owns 433 shares of the company's stock valued at $31,000 after purchasing an additional 246 shares during the period. Hedge funds and other institutional investors own 71.72% of the company's stock.

Citigroup Trading Up 1.1%

Shares of C stock opened at $101.71 on Thursday. 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 firm has a market cap of $187.24 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 0.86 and a beta of 1.41. The company has a 50-day moving average of $94.50 and a two-hundred day moving average of $80.31. Citigroup Inc. has a 1-year low of $55.51 and a 1-year high of $102.21.

Citigroup (NYSE:C - Get Free Report) last released its earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, beating 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 company had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. During the same period in the previous year, the company posted $1.52 EPS. Citigroup's revenue was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. On average, analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.4%. This is a boost from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date was Monday, August 4th. Citigroup's dividend payout ratio (DPR) is currently 35.45%.

Insider Transactions at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the 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 completion of the transaction, the director owned 2,140 shares in the company, valued at approximately $193,456. This represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

C has been the subject of a number of research reports. Oppenheimer upped their price objective on shares of Citigroup from $123.00 to $124.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. The Goldman Sachs Group upped their price objective on shares of Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. TD Cowen increased their price target on shares of Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a report on Wednesday, July 16th. Bank of America raised their price objective on shares of Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Finally, Wells Fargo & Company lifted their price target on shares of Citigroup from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Tuesday. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $97.68.

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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