Waverly Advisors LLC Sells 21,044 Shares of Citigroup Inc. $C

Key Points

• Waverly Advisors reduced its Citigroup stake by 12.2% in the second quarter, selling 21,044 shares and retaining 150,991 shares valued at approximately $21.1 million. Institutional investors collectively own 71.72% of Citigroup.
• Citigroup reported stronger-than-expected quarterly results, with EPS of $3.15 versus the $2.74 consensus and revenue of $24.77 billion. Revenue increased 14.5% year over year, and the bank raised its quarterly dividend to $0.67 per share.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $145.22, though some firms downgraded the stock to neutral or hold. The article also highlights potential growth from Citi’s expansion in China and payments technology, alongside concerns about slowing capital-markets momentum.

Waverly Advisors LLC cut its stake in Citigroup Inc. (NYSE:C - Free Report) by 12.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 150,991 shares of the company's stock after selling 21,044 shares during the quarter. Waverly Advisors LLC's holdings in Citigroup were worth $21,133,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Cora Capital Advisors LLC raised its holdings in shares of Citigroup by 3.1% in the first quarter. Cora Capital Advisors LLC now owns 2,609 shares of the company's stock valued at $296,000 after purchasing an additional 78 shares during the last quarter. CFS Investment Advisory Services LLC lifted its position in shares of Citigroup by 0.4% during the 1st quarter. CFS Investment Advisory Services LLC now owns 20,596 shares of the company's stock valued at $2,336,000 after buying an additional 79 shares during the last quarter. American Trust boosted its position in Citigroup by 3.6% during the second quarter. American Trust now owns 2,331 shares of the company's stock worth $326,000 after purchasing an additional 80 shares during the period. Invst LLC boosted its holdings in Citigroup by 0.8% in the 2nd quarter. Invst LLC now owns 9,601 shares of the company's stock worth $1,344,000 after buying an additional 80 shares during the period. Finally, Tsfg LLC boosted its holdings in shares of Citigroup by 4.9% in the second quarter. Tsfg LLC now owns 1,701 shares of the company's stock worth $238,000 after acquiring an additional 80 shares during the period. Institutional investors own 71.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Oppenheimer cut Citigroup from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 30th. UBS Group lowered their price target on Citigroup from $150.00 to $142.00 and set a "neutral" rating on the stock in a research report on Monday, August 3rd. Bank of America lifted their target price on shares of Citigroup from $170.00 to $176.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. Wall Street Zen lowered shares of Citigroup from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Finally, Wells Fargo & Company boosted their price target on shares of Citigroup from $162.00 to $165.00 and gave the company an "overweight" rating in a research report on Thursday, June 18th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $145.22.

Citigroup Price Performance

NYSE C opened at $136.64 on Wednesday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a 50-day moving average of $135.09 and a 200 day moving average of $127.86. Citigroup Inc. has a one year low of $93.66 and a one year high of $147.96. The company has a market capitalization of $233.05 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 0.62 and a beta of 1.12.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, beating analysts' consensus estimates of $2.74 by $0.41. The company had revenue of $24.77 billion for the quarter, compared to the consensus estimate of $23.74 billion. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The firm's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.96 earnings per share. On average, sell-side analysts forecast that Citigroup Inc. will post 11.21 EPS for the current year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 3rd were paid a $0.67 dividend. This is a boost from Citigroup's previous quarterly dividend of $0.60. The ex-dividend date was Monday, August 3rd. This represents a $2.68 annualized dividend and a dividend yield of 2.0%. Citigroup's dividend payout ratio (DPR) is currently 28.94%.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi is reportedly close to receiving approval for a wholly owned mainland China brokerage, potentially as soon as September. The bank plans to roughly double staffing, expanding its presence in technology, healthcare, consumer and financial-services investment banking. Citigroup moves deeper into China’s capital markets
• Positive Sentiment: Citi and DBS completed a live Singapore-to-U.S. dollar payment over a weekend in minutes using tokenized bank deposits and SWIFT’s blockchain-based Digital Ledger. The initiative highlights Citi’s payments technology and could support future transaction-banking growth. DBS and Citi settled a weekend cross-border payment
• Neutral Sentiment: Citi expects semiconductor stocks to rebound on resilient data-center demand and upcoming industry conferences. The view may benefit Citi indirectly through technology-sector client activity, but it does not directly change the bank’s earnings outlook. Citi’s semiconductor outlook
• Neutral Sentiment: Citi also became more bullish on trucking stocks, upgrading Old Dominion Freight Line and C.H. Robinson. The research reflects Citi’s advisory and trading franchise but has limited immediate impact on Citigroup’s fundamentals. Citi turns more bullish on trucking stocks
• Negative Sentiment: Analysts warn that capital-markets momentum is fading in the third quarter, raising the risk of uneven investment-banking and trading results for large banks including Citi. This is the clearest near-term pressure on C stock. Capital-markets momentum fades

Citigroup Profile

Citigroup Inc NYSE: C is a global financial services company headquartered in New York City. Through its businesses, Citi provides banking, lending, credit card, wealth management, investment banking, securities, markets and treasury services to individuals, businesses, financial institutions and governments.

The company's operations include U.S. Personal Banking, which offers consumer banking, credit cards and lending products; Wealth Management, which serves affluent and high-net-worth clients; and its Institutional Clients Group, which provides investment banking, corporate banking, markets, securities services and transaction banking.

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