Parallel Advisors LLC decreased its position in Citigroup Inc. (NYSE:C – Free Report) by 12.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,032 shares of the company’s stock after selling 3,940 shares during the quarter. Parallel Advisors LLC’s holdings in Citigroup were worth $2,386,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of C. Brighton Jones LLC increased its position in shares of Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after acquiring an additional 12,499 shares during the period. State of Wyoming purchased a new position in shares of Citigroup in the fourth quarter valued at about $145,000. Vident Advisory LLC increased its position in shares of Citigroup by 102.1% in the fourth quarter. Vident Advisory LLC now owns 83,338 shares of the company’s stock valued at $5,867,000 after acquiring an additional 42,108 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in shares of Citigroup in the fourth quarter valued at about $25,580,000. Finally, Woodline Partners LP purchased a new position in shares of Citigroup in the fourth quarter valued at about $7,995,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.
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Insiders Place Their Bets
In related news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the transaction, the director owned 2,140 shares in the company, valued at $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 available at the SEC website. 0.08% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the stock. Piper Sandler boosted their price objective 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. The Goldman Sachs Group boosted their price target on shares of Citigroup from $85.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Barclays boosted 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 boosted their price target on shares of Citigroup from $103.00 to $107.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Finally, Dbs Bank upgraded shares of Citigroup from a “hold” rating to a “moderate buy” rating in a report on Thursday, July 17th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.68.
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Citigroup Stock Up 0.9%
Shares of Citigroup stock opened at $100.71 on Wednesday. The company has a market cap of $185.40 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 0.86 and a beta of 1.41. The company’s 50 day moving average is $94.18 and its 200 day moving average is $80.16. Citigroup Inc. has a twelve month low of $55.51 and a twelve month high of $100.85. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61.
Citigroup (NYSE:C – Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.35. The company had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. Research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.
Citigroup Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 4th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.4%. This is a positive change from Citigroup’s previous quarterly dividend of $0.56. The ex-dividend date was Monday, August 4th. Citigroup’s payout ratio is currently 35.45%.
About Citigroup
(Free Report)
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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