RWA Wealth Partners LLC Reduces Holdings in Citigroup Inc. $C

Key Points

• RWA Wealth Partners LLC has reduced its holdings in Citigroup Inc. by 8.4%, now owning 255,793 shares valued at approximately $18.16 million after selling 23,381 shares in the first quarter.
• Citigroup recently reported earnings of $1.96 per share, exceeding analyst estimates, with revenue of $21.67 billion, up 8.2% year-over-year.
• The company announced an increase in its quarterly dividend to $0.60 per share, reflecting a 2.6% yield, set to be paid on August 22nd.

RWA Wealth Partners LLC lessened its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 8.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 255,793 shares of the company's stock after selling 23,381 shares during the period. RWA Wealth Partners LLC's holdings in Citigroup were worth $18,159,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of C. Edgar Lomax Co. VA raised its stake in Citigroup by 0.8% in the first quarter. Edgar Lomax Co. VA now owns 652,600 shares of the company's stock worth $46,328,000 after buying an additional 5,210 shares in the last quarter. Alpha Family Trust raised its stake in Citigroup by 42.9% in the first quarter. Alpha Family Trust now owns 4,430 shares of the company's stock worth $314,000 after buying an additional 1,330 shares in the last quarter. Aptus Capital Advisors LLC raised its stake in Citigroup by 11.1% in the first quarter. Aptus Capital Advisors LLC now owns 210,577 shares of the company's stock worth $14,949,000 after buying an additional 20,978 shares in the last quarter. Allen Wealth Management LLC raised its stake in Citigroup by 3.0% in the first quarter. Allen Wealth Management LLC now owns 32,070 shares of the company's stock worth $2,277,000 after buying an additional 927 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Citigroup by 1.0% in the first quarter. Northern Trust Corp now owns 20,427,563 shares of the company's stock worth $1,450,153,000 after buying an additional 195,013 shares in the last quarter. Institutional investors own 71.72% of the company's stock.

Insider Buying and Selling

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 value of $271,200.00. Following the completion of the transaction, the director owned 2,140 shares of the company's stock, valued at $193,456. This trade represents a 58.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

C has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reaffirmed a "buy" rating on shares of Citigroup in a research report on Wednesday, July 16th. Morgan Stanley upped their price target on Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Wells Fargo & Company upped their price target on Citigroup from $110.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Finally, Cowen initiated coverage on Citigroup in a research report on Wednesday, May 14th. They set a "hold" rating on the stock. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $96.54.

Citigroup Trading Down 0.7%

Shares of NYSE:C traded down $0.6350 during mid-day trading on Thursday, reaching $92.5350. 17,633,063 shares of the company were exchanged, compared to its average volume of 15,728,550. 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 $170.35 billion, a price-to-earnings ratio of 13.67, a P/E/G ratio of 0.81 and a beta of 1.38. The firm's 50-day simple moving average is $88.75 and its 200 day simple moving average is $78.11. Citigroup Inc. has a 1 year low of $55.51 and a 1 year high of $96.90.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. The firm had revenue of $21.67 billion during the quarter, compared to analysts' expectations of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The firm's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company posted $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. Equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be given a $0.60 dividend. The ex-dividend date of this dividend is Monday, August 4th. This represents a $2.40 annualized dividend and a yield of 2.6%. This is a boost from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio is 35.45%.

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.