Vontobel Holding Ltd. Decreases Stock Holdings in Citigroup Inc. $C

Key Points

• Vontobel Holding Ltd. has decreased its stake in Citigroup Inc. by 1.5%, now holding 236,044 shares valued at approximately $20 million following the sale of 3,553 shares in Q2.
• Citigroup reported strong quarterly earnings with an EPS of $1.96, surpassing analysts' expectations and indicating an 8.2% year-over-year revenue increase.
• The company recently raised its quarterly dividend to $0.60, reflecting a positive change from the previous $0.56 per share dividend, with a yield of 2.5%.

Vontobel Holding Ltd. decreased its holdings in Citigroup Inc. (NYSE:C - Free Report) by 1.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 236,044 shares of the company's stock after selling 3,553 shares during the quarter. Vontobel Holding Ltd.'s holdings in Citigroup were worth $20,092,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Maryland State Retirement & Pension System raised its position in Citigroup by 1.7% in the 2nd quarter. Maryland State Retirement & Pension System now owns 90,039 shares of the company's stock worth $7,664,000 after buying an additional 1,536 shares during the last quarter. Massachusetts Wealth Management raised its position in Citigroup by 0.5% in the 2nd quarter. Massachusetts Wealth Management now owns 50,197 shares of the company's stock worth $4,273,000 after buying an additional 270 shares during the last quarter. Northern Financial Advisors Inc raised its position in Citigroup by 3.1% in the 2nd quarter. Northern Financial Advisors Inc now owns 6,252 shares of the company's stock worth $532,000 after buying an additional 189 shares during the last quarter. Citizens National Bank Trust Department increased its position in shares of Citigroup by 3.9% during the 2nd quarter. Citizens National Bank Trust Department now owns 17,872 shares of the company's stock valued at $1,521,000 after purchasing an additional 669 shares during the last quarter. Finally, Arcataur Capital Management LLC purchased a new stake in shares of Citigroup during the 2nd quarter valued at about $228,000. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insiders Place Their Bets

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the completion of the transaction, the director directly owned 2,140 shares in the company, valued at $193,456. This represents a 58.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.08% of the stock is owned by insiders.

Citigroup Trading Down 0.9%

Shares of NYSE:C opened at $95.85 on Friday. The stock has a 50 day moving average of $96.96 and a 200 day moving average of $83.58. The company has a market cap of $176.45 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 0.84 and a beta of 1.37. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $105.59.

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

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.5%. The ex-dividend date 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%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on C shares. Barclays upped their price target on shares of Citigroup from $95.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Morgan Stanley upped their price target on shares of Citigroup from $107.00 to $129.00 and gave the company an "overweight" rating in a research report on Monday, September 29th. 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 research report on Wednesday, July 16th. Truist Financial upped their price target on shares of Citigroup from $105.00 to $112.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Finally, Keefe, Bruyette & Woods reaffirmed a "buy" rating on shares of Citigroup in a research report on Wednesday, July 16th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $99.68.

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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