WFA Asset Management Corp Sells 9,138 Shares of Citigroup Inc. $C

Key Points

• WFA Asset Management Corp reduced its stake in Citigroup Inc. by 22.2% in Q2, selling 9,138 shares, bringing its total holdings to approximately $2.73 million.
• Analysts have varying outlooks on Citigroup, with price targets ranging from $107 to $125, reflecting a consensus rating of "Moderate Buy" from eleven analysts.
• Citigroup recently announced a quarterly dividend of $0.60 per share, indicating a 2.5% yield, with an ex-dividend date set for November 3rd.

WFA Asset Management Corp trimmed its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 22.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 32,106 shares of the company's stock after selling 9,138 shares during the quarter. Citigroup comprises about 1.6% of WFA Asset Management Corp's holdings, making the stock its 15th biggest holding. WFA Asset Management Corp's holdings in Citigroup were worth $2,733,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of C. FSM Wealth Advisors LLC bought a new position in shares of Citigroup in the 2nd quarter worth approximately $248,000. KPP Advisory Services LLC grew its holdings in shares of Citigroup by 1.1% in the second quarter. KPP Advisory Services LLC now owns 23,677 shares of the company's stock valued at $2,015,000 after purchasing an additional 262 shares in the last quarter. First Citizens Bank & Trust Co. boosted its stake in Citigroup by 93.3% during the second quarter. First Citizens Bank & Trust Co. now owns 11,963 shares of the company's stock worth $1,018,000 after buying an additional 5,774 shares during the period. Bleakley Financial Group LLC lifted its position in shares of Citigroup by 30.8% during the second quarter. Bleakley Financial Group LLC now owns 30,455 shares of the company's stock worth $2,592,000 after purchasing an additional 7,173 shares during the last quarter. Finally, Strategic Blueprint LLC lifted its position in shares of Citigroup by 5.5% during the second quarter. Strategic Blueprint LLC now owns 45,873 shares of the company's stock worth $3,905,000 after purchasing an additional 2,371 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Piper Sandler lifted their price objective on Citigroup from $107.00 to $110.00 and gave the company an "overweight" rating in a report on Wednesday, October 15th. Wells Fargo & Company boosted their target price on shares of Citigroup from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. Zacks Research lowered Citigroup from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 15th. Bank of America boosted their price target on Citigroup from $115.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday, October 15th. Finally, Oppenheimer dropped their price target on Citigroup from $124.00 to $123.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 23rd. Eleven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $107.63.

Citigroup Stock Performance

Shares of Citigroup stock opened at $97.26 on Thursday. The business has a 50-day moving average of $97.81 and a 200 day moving average of $85.32. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $105.59. The stock has a market capitalization of $179.04 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 0.82 and a beta of 1.37. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.99 and a quick ratio of 0.99.

Citigroup (NYSE:C - Get Free Report) last announced its earnings results on Tuesday, October 14th. The company reported $1.86 EPS for the quarter, missing analysts' consensus estimates of $1.89 by ($0.03). The firm had revenue of $22.09 billion for the quarter, compared to analysts' expectations of $20.92 billion. Citigroup had a net margin of 8.73% and a return on equity of 7.91%. The business's revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.51 earnings per share. Citigroup has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast 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 2.5%. The ex-dividend date of this dividend is Monday, November 3rd. Citigroup's dividend payout ratio (DPR) is 33.71%.

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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