Robertson Stephens Wealth Management LLC Decreases Stock Holdings in Citigroup Inc. $C

Key Points

• Robertson Stephens Wealth Management LLC reduced its stake in Citigroup Inc. by 30.7% during the 2nd quarter, bringing their holdings down to 25,392 shares, valued at approximately $2.16 million.
• Several hedge funds have modified their positions in Citigroup, with 71.72% of the stock now owned by institutional investors, signaling significant interest from the financial sector.
• Citigroup recently announced a dividend increase to $0.60 per share, reflecting positive financial performance, including a reported 8.2% year-over-year revenue growth.

Robertson Stephens Wealth Management LLC trimmed its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 30.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,392 shares of the company's stock after selling 11,247 shares during the period. Robertson Stephens Wealth Management LLC's holdings in Citigroup were worth $2,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Secure Asset Management LLC raised its holdings in shares of Citigroup by 3.7% during the 2nd quarter. Secure Asset Management LLC now owns 3,290 shares of the company's stock worth $280,000 after acquiring an additional 118 shares in the last quarter. Golden State Equity Partners raised its holdings in shares of Citigroup by 0.6% during the 2nd quarter. Golden State Equity Partners now owns 21,634 shares of the company's stock worth $1,842,000 after acquiring an additional 122 shares in the last quarter. Wedmont Private Capital raised its holdings in Citigroup by 0.5% during the 2nd quarter. Wedmont Private Capital now owns 23,706 shares of the company's stock valued at $2,034,000 after buying an additional 129 shares during the period. RDA Financial Network raised its holdings in Citigroup by 3.4% during the 2nd quarter. RDA Financial Network now owns 3,940 shares of the company's stock valued at $335,000 after buying an additional 130 shares during the period. Finally, DMKC Advisory Services LLC raised its holdings in Citigroup by 0.7% during the 2nd quarter. DMKC Advisory Services LLC now owns 19,838 shares of the company's stock valued at $1,847,000 after buying an additional 131 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Peter B. Henry sold 3,000 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was 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 $193,456. This trade 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 is available through this link. Insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on C. The Goldman Sachs Group increased their price target on Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Evercore ISI set a $77.00 price target on Citigroup in a report on Monday, July 7th. Wells Fargo & Company increased their price target on Citigroup from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Weiss Ratings restated a "buy (b)" rating on shares of Citigroup in a report on Wednesday. Finally, Keefe, Bruyette & Woods restated a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Citigroup has a consensus rating of "Moderate Buy" and a consensus price target of $99.68.

Citigroup Price Performance

C opened at $93.87 on Friday. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $105.59. 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 business's fifty day simple moving average is $97.00 and its 200-day simple moving average is $83.71. The company has a market capitalization of $172.81 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 0.84 and a beta of 1.37.

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 analysts' consensus estimates of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The business had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. During the same quarter in the prior year, the company earned $1.52 EPS. The business's revenue was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, August 4th. This is a positive change from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio is currently 35.45%.

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.

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