Douglas Lane & Associates LLC Trims Stake in Citigroup Inc. $C

Douglas Lane & Associates LLC lessened its holdings in shares of Citigroup Inc. (NYSE:C) by 6.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 390,614 shares of the company’s stock after selling 25,066 shares during the period. Douglas Lane & Associates LLC’s holdings in Citigroup were worth $50,577,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Paladin Partners LLC acquired a new stake in shares of Citigroup during the second quarter worth $27,000. Pin Oak Investment Advisors Inc. bought a new stake in Citigroup in the second quarter valued at about $29,000. Whipplewood Advisors LLC acquired a new position in Citigroup in the first quarter valued at about $25,000. TD Capital Management LLC bought a new position in Citigroup during the fourth quarter worth about $28,000. Finally, IMG Wealth Management Inc. grew its position in shares of Citigroup by 197.6% during the 1st quarter. IMG Wealth Management Inc. now owns 244 shares of the company’s stock worth $28,000 after buying an additional 162 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Analysts expect third-quarter performance to benefit from higher net interest income and market revenues. Investors will also watch for evidence that cost reductions and continued share buybacks or dividend increases are improving returns on capital. Here’s How to Play Citigroup Stock Ahead of Q3 Earnings Release
• Positive Sentiment: TD Cowen initiated coverage with a Buy rating and a $150 price target, implying substantial upside from recent trading levels. Other commentary argues Citi could rerate closer to larger bank peers if its restructuring produces more consistent profitability. TD Cowen initiates Citigroup coverage Citigroup Has Trailed Financial Stocks. Expect That to Change.
• Positive Sentiment: Citi’s expanded collaboration with Coinbase is positioning its payment infrastructure for stablecoin and digital-asset transactions. The initiative could create longer-term fee and payments opportunities, although its financial contribution is not yet quantified. Citi Just Connected Its $6 Trillion Payment Network to Stablecoin Rails
• Neutral Sentiment: Citigroup’s dividend was recently increased, but comparisons with JPMorgan highlight Citi’s history of cutting its payout sharply during stressful periods. This makes capital strength and the sustainability of earnings important issues ahead of results. JPM vs. C: Which Bank Dividend Actually Survives the Next Crisis?
• Negative Sentiment: UBS lowered its Citigroup price target to $139, while separate analysis questions whether the stock’s roughly 238% three-year advance is fully supported by durable improvements in returns on capital. That raises the risk of profit-taking if Q3 results or guidance disappoint. UBS Group Cuts Citigroup Price Target Can Citigroup Trade At A Discount After a 238% Run?
• Negative Sentiment: Rising Treasury yields and broader market volatility remain potential headwinds for banks, affecting bond portfolios, funding costs and credit conditions. Escalating Middle East tensions could further increase volatility in oil prices, rates and financial markets.

Citigroup Stock Up 0.6%

C traded up $0.82 during trading on Friday, hitting $128.90. The company had a trading volume of 2,523,301 shares, compared to its average volume of 12,421,789. The company has a market capitalization of $219.84 billion, a PE ratio of 13.91, a PEG ratio of 0.56 and a beta of 1.13. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.71. Citigroup Inc. has a one year low of $93.66 and a one year high of $147.96. The firm’s 50-day moving average price is $133.80 and its 200 day moving average price is $131.31.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, beating analysts’ consensus estimates of $2.74 by $0.41. The company had revenue of $24.77 billion for the quarter, compared to analyst estimates of $23.74 billion. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.96 earnings per share. As a group, equities analysts expect that Citigroup Inc. will post 11.19 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 3rd were given a $0.67 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.60. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, August 3rd. Citigroup’s payout ratio is presently 28.94%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on C shares. Morgan Stanley lifted their price objective on shares of Citigroup from $154.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Oppenheimer lowered shares of Citigroup from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 30th. Zacks Research cut shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 14th. Truist Financial decreased their price target on shares of Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. Finally, Evercore set a $140.00 price objective on shares of Citigroup in a research report on Thursday, October 1st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $151.28.

Citigroup Profile

Citigroup Inc is a global financial services company headquartered in New York City and listed on the New York Stock Exchange under the symbol C. Through its subsidiaries and businesses, Citi provides banking, lending, investment, payments, wealth management and other financial services to consumers, businesses, governments and institutional clients.

Citi’s principal businesses include Services, which supports institutional clients with treasury, trade, securities services and related solutions; Markets, which provides sales, trading, research and financing services; Banking, which offers investment banking and corporate banking; and Wealth, which provides private banking and wealth management.