Citigroup Inc. $C Shares Sold by Wright Investors Service Inc.

Key Points

• Wright Investors Service Inc. reduced its position in Citigroup Inc. by 19.7% in the second quarter, now holding 18,466 shares valued at $1,572,000.
• Citigroup's quarterly earnings surpassed analysts' expectations with earnings per share at $1.96 compared to the consensus of $1.61, driving revenue to $21.67 billion.
• Several analysts have set new price targets for Citigroup, with Goldman Sachs and Barclays raising their targets to $96.00 and $100.00, respectively, maintaining a positive outlook on the stock's performance.

Wright Investors Service Inc. lowered its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 19.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,466 shares of the company's stock after selling 4,537 shares during the quarter. Wright Investors Service Inc.'s holdings in Citigroup were worth $1,572,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its holdings in Citigroup by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company's stock valued at $2,917,794,000 after acquiring an additional 2,539,769 shares during the period. Northern Trust Corp boosted its holdings in Citigroup by 1.0% during the 1st quarter. Northern Trust Corp now owns 20,427,563 shares of the company's stock valued at $1,450,153,000 after acquiring an additional 195,013 shares during the period. Invesco Ltd. lifted its holdings in shares of Citigroup by 3.6% in the 1st quarter. Invesco Ltd. now owns 16,839,915 shares of the company's stock worth $1,195,466,000 after buying an additional 592,820 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Citigroup by 179.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company's stock worth $1,031,790,000 after buying an additional 9,334,038 shares during the period. Finally, Amundi lifted its holdings in shares of Citigroup by 78.4% in the 1st quarter. Amundi now owns 13,713,517 shares of the company's stock worth $973,523,000 after buying an additional 6,026,268 shares during the period. Hedge funds and other institutional investors own 71.72% of the company's stock.

Citigroup Stock Up 0.9%

Citigroup stock traded up $0.88 during midday trading on Monday, reaching $103.56. The company's stock had a trading volume of 11,434,353 shares, compared to its average volume of 15,484,444. The stock's 50-day simple moving average is $95.12 and its 200-day simple moving average is $80.82. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $103.81. The stock has a market capitalization of $190.64 billion, a P/E ratio of 15.30, a PEG ratio of 0.88 and a beta of 1.41.

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

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were issued a $0.60 dividend. This is a boost from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, August 4th. Citigroup's dividend payout ratio is currently 35.45%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on C. Truist Financial upped their target price on Citigroup from $99.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Wall Street Zen upgraded Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Barclays upped their target price on Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods restated a "buy" rating on shares of Citigroup in a research note on Wednesday, July 16th. Finally, Zacks Research cut Citigroup from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 15th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $97.68.

Insider Buying and Selling at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the transaction, the director directly owned 2,140 shares of the company's stock, valued at approximately $193,456. This represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.08% of the company's stock.

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.