Rafferty Asset Management LLC Sells 49,060 Shares of Citigroup Inc. $C

Key Points

• Rafferty Asset Management LLC has reduced its holdings in Citigroup Inc. by 7.4%, selling 49,060 shares and now owning 618,194 shares valued at $43.9 million.
• Multiple institutional investors have increased their positions in Citigroup, with Causeway Capital Management boosting its holdings by 9.4%, now owning about $95.9 million in shares.
• Citigroup declared a quarterly dividend of $0.60 per share, marking an increase from the previous quarter's $0.56, with a current yield of 2.5% and a payout ratio of 35.45%.

Rafferty Asset Management LLC lowered its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 7.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 618,194 shares of the company's stock after selling 49,060 shares during the quarter. Rafferty Asset Management LLC's holdings in Citigroup were worth $43,886,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Causeway Capital Management LLC grew its holdings in Citigroup by 9.4% during the first quarter. Causeway Capital Management LLC now owns 1,350,907 shares of the company's stock valued at $95,901,000 after purchasing an additional 116,032 shares during the period. Widmann Financial Services Inc. grew its holdings in Citigroup by 4.3% during the first quarter. Widmann Financial Services Inc. now owns 15,618 shares of the company's stock valued at $1,109,000 after purchasing an additional 648 shares during the period. Orion Capital Management LLC grew its holdings in Citigroup by 135.0% during the first quarter. Orion Capital Management LLC now owns 940 shares of the company's stock valued at $67,000 after purchasing an additional 540 shares during the period. WealthTrust Axiom LLC acquired a new position in Citigroup during the first quarter valued at approximately $205,000. Finally, Bank of Hawaii acquired a new position in Citigroup during the first quarter valued at approximately $593,000. Institutional investors and hedge funds own 71.72% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Evercore ISI set a $77.00 price objective on shares of Citigroup in a report on Monday, July 7th. Dbs Bank upgraded shares of Citigroup from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Truist Financial boosted their price objective on shares of Citigroup from $93.00 to $99.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Piper Sandler upped their price target on shares of Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, TD Cowen upped their price target on shares of Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a report on Wednesday, July 16th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $96.54.

Insider Buying and Selling at Citigroup

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

Citigroup Stock Performance

NYSE C opened at $95.00 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61. The firm's fifty day moving average price is $89.76 and its two-hundred day moving average price is $78.37. Citigroup Inc. has a 1 year low of $55.51 and a 1 year high of $96.90. The firm has a market capitalization of $174.89 billion, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 0.82 and a beta of 1.38.

Citigroup (NYSE:C - Get Free Report) last posted 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 firm had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same period in the prior year, the firm posted $1.52 earnings per share. The company's quarterly revenue was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Citigroup Inc. will post 7.53 EPS 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 given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.5%. This is an increase from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Monday, August 4th. Citigroup's payout ratio is currently 35.45%.

Citigroup 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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