Phoenix Financial Ltd. Reduces Stake in Citigroup Inc. $C

Key Points

• Phoenix Financial Ltd. significantly reduced its stake in Citigroup Inc. by 91.0%, now owning 109,805 shares valued at about $9.39 million.
• Several hedge funds have recently increased their positions in Citigroup, with Brighton Jones LLC raising its stake by 166.9% and ORG Partners LLC by 228.2%.
• Citigroup reported quarterly earnings of $1.86 EPS, missing expectations, but its revenue of $22.09 billion exceeded forecasts, reflecting a year-over-year growth of 9.3%.

Phoenix Financial Ltd. reduced its position in Citigroup Inc. (NYSE:C - Free Report) by 91.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,805 shares of the company's stock after selling 1,111,210 shares during the period. Phoenix Financial Ltd.'s holdings in Citigroup were worth $9,387,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of C. Brighton Jones LLC increased its stake in Citigroup by 166.9% in the 4th 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. GAMMA Investing LLC increased its position in Citigroup by 12.7% during the first quarter. GAMMA Investing LLC now owns 34,236 shares of the company's stock worth $2,430,000 after buying an additional 3,855 shares in the last quarter. Exchange Traded Concepts LLC increased its position in Citigroup by 68.8% during the first quarter. Exchange Traded Concepts LLC now owns 3,642 shares of the company's stock worth $259,000 after buying an additional 1,485 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Citigroup by 8.0% in the first quarter. Blue Trust Inc. now owns 4,341 shares of the company's stock worth $308,000 after acquiring an additional 320 shares during the last quarter. Finally, ORG Partners LLC lifted its position in shares of Citigroup by 228.2% in the first quarter. ORG Partners LLC now owns 1,047 shares of the company's stock valued at $74,000 after acquiring an additional 728 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

C has been the subject of a number of recent research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Citigroup in a research report on Wednesday, October 8th. Truist Financial raised their price target on shares of Citigroup from $105.00 to $112.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Evercore ISI set a $77.00 price objective on shares of Citigroup in a research report on Monday, July 7th. Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Citigroup from $112.00 to $118.00 and gave the stock an "outperform" rating in a research note on Friday. Eleven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.63.

Citigroup Price Performance

Citigroup stock opened at $99.18 on Tuesday. Citigroup Inc. has a 1 year low of $55.51 and a 1 year high of $105.59. The firm has a 50 day moving average price of $97.72 and a 200 day moving average price of $85.15. The company has a market cap of $182.58 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 0.82 and a beta of 1.37. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.99 and a current ratio of 0.99.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings results on Tuesday, October 14th. The company reported $1.86 earnings per share for the quarter, missing analysts' consensus estimates of $1.89 by ($0.03). The company had revenue of $22.09 billion for the quarter, compared to analysts' expectations of $20.92 billion. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The business's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.51 EPS. Citigroup has set its FY 2025 guidance at EPS. Sell-side analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 3rd will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Monday, November 3rd. Citigroup's payout ratio is 33.71%.

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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