TD Asset Management Inc Sells 49,974 Shares of Citigroup Inc. $C

Key Points

• TD Asset Management Inc sold 49,974 shares of Citigroup Inc, reducing its holdings by 4.5% to 1,071,626 shares, valued at approximately $91.2 million.
• Citigroup reported $22.09 billion in revenue for the recent quarter, exceeding analyst estimates, but its earnings per share of $1.86 fell short of expectations.
• The firm announced a quarterly dividend of $0.60 per share, with the ex-dividend date set for November 3rd, representing a 2.4% dividend yield.

TD Asset Management Inc lowered its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 4.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,071,626 shares of the company's stock after selling 49,974 shares during the quarter. TD Asset Management Inc owned about 0.06% of Citigroup worth $91,217,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Secure Asset Management LLC raised its holdings in Citigroup by 3.7% in 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 during the period. Golden State Equity Partners raised its holdings in Citigroup by 0.6% in 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 during the period. Wedmont Private Capital raised its holdings in Citigroup by 0.5% in the 2nd quarter. Wedmont Private Capital now owns 23,706 shares of the company's stock worth $2,034,000 after acquiring an additional 129 shares during the period. RDA Financial Network raised its holdings in Citigroup by 3.4% in the 2nd quarter. RDA Financial Network now owns 3,940 shares of the company's stock worth $335,000 after acquiring an additional 130 shares during the period. Finally, Richardson Financial Services Inc. raised its holdings in Citigroup by 6.1% in the 2nd quarter. Richardson Financial Services Inc. now owns 2,270 shares of the company's stock worth $196,000 after acquiring an additional 130 shares during the period. Institutional investors own 71.72% of the company's stock.

Citigroup Stock Performance

NYSE:C opened at $99.83 on Wednesday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. The firm's 50-day moving average is $97.25 and its 200-day moving average is $84.16. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $105.59. The company has a market cap of $183.78 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 0.84 and a beta of 1.37.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, October 14th. The company reported $1.86 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.03). Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The business had revenue of $22.09 billion for the quarter, compared to analyst estimates of $20.92 billion. During the same quarter last year, the firm posted $1.51 earnings per share. Citigroup's revenue was up 9.3% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 3rd will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Monday, November 3rd. Citigroup's payout ratio is 35.45%.

Analyst Ratings Changes

C has been the topic of several recent analyst reports. Evercore ISI set a $77.00 target price on shares of Citigroup in a report on Monday, July 7th. Keefe, Bruyette & Woods reiterated a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. Wall Street Zen upgraded shares of Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Oppenheimer dropped their price objective on shares of Citigroup from $124.00 to $123.00 and set an "outperform" rating on the stock in a report on Tuesday, September 23rd. Finally, TD Cowen boosted their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a report on Wednesday, July 16th. Eleven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $101.25.

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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