Citigroup Inc. $C Shares Sold by Quadcap Wealth Management LLC

Key Points

• Quadcap Wealth Management LLC reduced its holdings in Citigroup by 27.5%, selling 4,024 shares and now owning 10,613 shares worth approximately $753,000.
• Several hedge funds made significant adjustments, with OVERSEA CHINESE BANKING Corp increasing its position in Citigroup by 109.0% and Pinnacle Financial Partners Inc raising its position by 495.1% in the first quarter.
• Citigroup recently declared a quarterly dividend of $0.60 per share, up from its previous dividend of $0.56, representing a 2.5% yield.

Quadcap Wealth Management LLC trimmed its holdings in Citigroup Inc. (NYSE:C - Free Report) by 27.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,613 shares of the company's stock after selling 4,024 shares during the period. Quadcap Wealth Management LLC's holdings in Citigroup were worth $753,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Orion Capital Management LLC acquired a new stake in shares of Citigroup in the fourth quarter valued at about $28,000. MorganRosel Wealth Management LLC acquired a new stake in shares of Citigroup in the first quarter valued at about $28,000. Accent Capital Management LLC increased its position 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 purchasing an additional 212 shares during the last quarter. American National Bank & Trust acquired a new stake in Citigroup during the first quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in Citigroup during the fourth quarter worth about $34,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Down 0.3%

Citigroup stock traded down $0.28 during trading on Friday, reaching $96.54. The stock had a trading volume of 8,361,286 shares, compared to its average volume of 13,725,170. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $97.49. The business has a 50 day moving average price of $91.23 and a 200 day moving average price of $78.82. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. The stock has a market cap of $177.72 billion, a PE ratio of 14.26, a P/E/G ratio of 0.83 and a beta of 1.38.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $20.75 billion. During the same quarter in the previous year, the firm earned $1.52 earnings per share. The firm's quarterly revenue was up 8.2% on a year-over-year basis. 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 disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, August 4th. This is an increase from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a yield of 2.5%. Citigroup's dividend payout ratio is 35.45%.

Insiders Place Their Bets

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the firm's stock in a transaction that occurred on 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 owned 2,140 shares of the company's stock, valued at approximately $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on C shares. Morgan Stanley increased their target price on shares of Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. TD Cowen raised their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a research note on Wednesday, July 16th. Wells Fargo & Company raised their price objective on shares of Citigroup from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Truist Financial raised their price objective on shares of Citigroup from $93.00 to $99.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, Cowen started coverage on shares of Citigroup in a research note on Wednesday, May 14th. They issued a "hold" rating for the company. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $96.54.

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.