Lido Advisors LLC Lowers Stake in Citigroup Inc. $C

Lido Advisors LLC cut its holdings in shares of Citigroup Inc. (NYSE:C) by 15.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 98,082 shares of the company’s stock after selling 17,243 shares during the period. Lido Advisors LLC’s holdings in Citigroup were worth $11,124,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of C. Cora Capital Advisors LLC grew its holdings in 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 period. CFS Investment Advisory Services LLC increased its position in shares of Citigroup by 0.4% in the first 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 in the last quarter. Verus Capital Partners LLC raised its stake in shares of Citigroup by 3.1% during the 4th quarter. Verus Capital Partners LLC now owns 2,748 shares of the company’s stock worth $321,000 after buying an additional 82 shares during the period. CFO Capital Management LLC raised its stake in shares of Citigroup by 1.5% during the 1st quarter. CFO Capital Management LLC now owns 5,495 shares of the company’s stock worth $590,000 after buying an additional 83 shares during the period. Finally, D.B. Root & Company LLC lifted its position in shares of Citigroup by 2.8% during the 4th quarter. D.B. Root & Company LLC now owns 3,191 shares of the company’s stock valued at $372,000 after buying an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup priced an $817 million multifamily CMBS deal, its largest post-GFC multifamily-only securitization, underscoring continued strength in Citi’s commercial real estate capital markets franchise and demand for apartment-backed debt. Citigroup (C) Sets Post GFC Record With $817 Million Multifamily CMBS Deal
• Positive Sentiment: Several brokerages remain constructive on Citigroup after its strong second quarter, with analysts pointing to solid earnings, improving outlooks and rising estimates for the bank. Buy 3 Top-Ranked Big Investment Banks Amid Solid Q2 Earnings & Outlook
• Positive Sentiment: Citigroup raised its quarterly dividend to $0.67 per share from $0.60, signaling confidence in capital strength and offering a more attractive income profile for shareholders. Dividend announcement
• Neutral Sentiment: Citigroup was also in the news for hiring five U.S. tech investment banking executives, a move that could support franchise growth over time but is unlikely to move the stock immediately. Citigroup hires five US tech investment banking executives from rivals
• Negative Sentiment: Citi’s downgrade of agilon health to Sell shows the bank is still making cautious calls on certain sectors, but this is more relevant to agilon than to Citigroup’s own earnings outlook. Why agilon health (AGL) Shares Are Falling Today

Citigroup Stock Down 0.2%

C stock opened at $131.94 on Friday. The company has a market cap of $225.03 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 0.59 and a beta of 1.11. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71. Citigroup Inc. has a 12 month low of $87.94 and a 12 month high of $147.96. The firm has a 50-day moving average of $134.84 and a two-hundred day moving average of $123.76.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.41. The business had revenue of $24.75 billion for the quarter, compared to analysts’ expectations of $23.74 billion. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.96 EPS. As a group, analysts forecast that Citigroup Inc. will post 11.22 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 3rd will be given a dividend of $0.67 per share. The ex-dividend date is Monday, August 3rd. This is a positive change from Citigroup’s previous quarterly dividend of $0.60. This represents a $2.68 dividend on an annualized basis and a yield of 2.0%. Citigroup’s dividend payout ratio (DPR) is 25.92%.

Citigroup declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 7th that permits the company to buyback $30.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 13.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

C has been the topic of a number of research analyst reports. Barclays lifted their price target on shares of Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. The Goldman Sachs Group upped their price objective on shares of Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Piper Sandler reaffirmed an “overweight” rating and set a $145.00 price objective (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. Keefe, Bruyette & Woods lifted their target price on shares of Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Finally, Argus set a $150.00 target price on shares of Citigroup in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $145.67.

Insider Buying and Selling

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $125.30, for a total transaction of $265,260.10. Following the transaction, the director owned 12,194 shares of the company’s stock, valued at approximately $1,527,908.20. The trade was a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.11% of the company’s stock.

About Citigroup

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.