LGT Fund Management Co Ltd. Cuts Stake in Citigroup Inc. $C

LGT Fund Management Co Ltd. reduced its stake in shares of Citigroup Inc. (NYSE:C) by 54.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,028 shares of the company’s stock after selling 41,000 shares during the period. LGT Fund Management Co Ltd.’s holdings in Citigroup were worth $2,896,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of C. MorganRosel Wealth Management LLC purchased a new position in shares of Citigroup during the 1st quarter worth about $28,000. Accent Capital Management LLC lifted its holdings in shares of Citigroup by 106.0% during the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company’s stock worth $29,000 after acquiring an additional 212 shares during the period. Truvestments Capital LLC lifted its holdings in shares of Citigroup by 131.6% during the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company’s stock worth $31,000 after acquiring an additional 246 shares during the period. DHJJ Financial Advisors Ltd. raised its holdings in Citigroup by 157.1% in the second quarter. DHJJ Financial Advisors Ltd. now owns 414 shares of the company’s stock valued at $35,000 after buying an additional 253 shares during the period. Finally, HHM Wealth Advisors LLC raised its holdings in Citigroup by 805.2% in the first quarter. HHM Wealth Advisors LLC now owns 525 shares of the company’s stock valued at $37,000 after buying an additional 467 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of the firm’s 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 completion of the sale, the director owned 2,140 shares of the company’s stock, valued at approximately $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.08% of the company’s stock.

Citigroup Trading Up 0.2%

C opened at $97.58 on Friday. The firm has a market capitalization of $179.64 billion, a P/E ratio of 14.41, a P/E/G ratio of 0.83 and a beta of 1.37. The firm’s 50 day moving average is $96.79 and its 200-day moving average is $82.89. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $105.59. 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) last posted 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 for the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. Analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, August 4th. This is an increase from Citigroup’s previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. Citigroup’s dividend payout ratio is 35.45%.

Analyst Upgrades and Downgrades

C has been the topic of several research reports. TD Cowen raised their price target on shares of Citigroup from $85.00 to $95.00 and gave the company a “hold” rating in a report on Wednesday, July 16th. The Goldman Sachs Group raised their price target on shares of Citigroup from $85.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Morgan Stanley raised their price target on shares of Citigroup from $107.00 to $129.00 and gave the company an “overweight” rating in a report on Monday. Piper Sandler raised their price target on shares of Citigroup from $84.00 to $104.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Finally, Evercore ISI set a $77.00 price target on shares of Citigroup in a report on Monday, July 7th. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average 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.