Columbia Asset Management Trims Position in Citigroup Inc. $C

Columbia Asset Management cut its holdings in shares of Citigroup Inc. (NYSE:C) by 76.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 29,220 shares of the company’s stock after selling 95,515 shares during the quarter. Columbia Asset Management’s holdings in Citigroup were worth $2,487,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of C. MorganRosel Wealth Management LLC acquired a new stake in shares of Citigroup during the 1st quarter worth approximately $28,000. Accent Capital Management LLC grew its stake 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 purchasing an additional 212 shares during the period. American National Bank & Trust acquired a new stake in shares of Citigroup during the 1st quarter worth approximately $29,000. Truvestments Capital LLC grew its stake 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 purchasing an additional 246 shares during the period. Finally, HHM Wealth Advisors LLC grew its stake in shares of Citigroup by 805.2% during the 1st quarter. HHM Wealth Advisors LLC now owns 525 shares of the company’s stock worth $37,000 after purchasing an additional 467 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on C shares. Piper Sandler raised their price objective on shares of Citigroup from $84.00 to $104.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Truist Financial lifted their price target on shares of Citigroup from $105.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. TD Cowen lifted their price target on shares of Citigroup from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Wednesday, July 16th. Barclays lifted their price target on shares of Citigroup from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Finally, Zacks Research cut shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Ten equities research 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 company presently has an average rating of “Moderate Buy” and an average price target of $99.68.

Insider Activity at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction on Wednesday, July 16th. The stock was 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. The trade was a 58.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Stock Down 1.6%

NYSE C opened at $101.52 on Wednesday. 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. The business’s fifty day simple moving average is $96.66 and its 200-day simple moving average is $82.41. The firm has a market cap of $186.89 billion, a PE ratio of 15.00, a P/E/G ratio of 0.88 and a beta of 1.41.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The business had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same quarter in the previous year, the firm earned $1.52 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current 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 issued a dividend of $0.60 per share. The ex-dividend date was Monday, August 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.4%. This is a boost from Citigroup’s previous quarterly dividend of $0.56. Citigroup’s payout ratio is presently 35.45%.

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.