Frank Rimerman Advisors LLC Reduces Position in Citigroup Inc. $C

Frank Rimerman Advisors LLC cut its holdings in shares of Citigroup Inc. (NYSE:C) by 10.4% during the second quarter, HoldingsChannel.com reports. The fund owned 12,685 shares of the company’s stock after selling 1,479 shares during the period. Frank Rimerman Advisors LLC’s holdings in Citigroup were worth $1,080,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Accent Capital Management LLC lifted its stake in Citigroup by 106.0% in the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company’s stock worth $29,000 after purchasing an additional 212 shares in the last quarter. Truvestments Capital LLC increased its holdings in shares of Citigroup by 131.6% in the first quarter. Truvestments Capital LLC now owns 433 shares of the company’s stock valued at $31,000 after purchasing an additional 246 shares during the last quarter. DHJJ Financial Advisors Ltd. lifted its position in Citigroup by 157.1% during the second quarter. DHJJ Financial Advisors Ltd. now owns 414 shares of the company’s stock worth $35,000 after buying an additional 253 shares in the last quarter. HHM Wealth Advisors LLC boosted its stake in Citigroup by 805.2% during the first quarter. HHM Wealth Advisors LLC now owns 525 shares of the company’s stock worth $37,000 after buying an additional 467 shares during the last quarter. Finally, WPG Advisers LLC acquired a new position in Citigroup during the first quarter worth $38,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Citigroup stock opened at $98.39 on Wednesday. The company’s 50 day simple moving average is $99.73 and its 200-day simple moving average is $90.56. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup Inc. has a 1 year low of $55.51 and a 1 year high of $105.59. The company has a market capitalization of $176.04 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 0.83 and a beta of 1.37.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, October 14th. The company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.35. The firm had revenue of $22.09 billion during the quarter, compared to the consensus estimate of $20.92 billion. Citigroup had a net margin of 8.73% and a return on equity of 7.91%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.51 EPS. Citigroup has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 3rd will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. Citigroup’s payout ratio is presently 33.71%.

Analyst Ratings Changes

A number of brokerages have issued reports on C. Morgan Stanley raised their target price on Citigroup from $129.00 to $134.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Zacks Research downgraded shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Barclays boosted their target price on shares of Citigroup from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Wells Fargo & Company raised their price target on shares of Citigroup from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citigroup in a research report on Wednesday, October 8th. Eleven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.63.

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.