Boyar Asset Management Inc. Reduces Position in Citigroup Inc. $C

Boyar Asset Management Inc. cut its stake in shares of Citigroup Inc. (NYSE:C) by 13.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,872 shares of the company’s stock after selling 2,481 shares during the quarter. Boyar Asset Management Inc.’s holdings in Citigroup were worth $1,351,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of C. Secure Asset Management LLC raised its stake in Citigroup by 3.7% during the 2nd quarter. Secure Asset Management LLC now owns 3,290 shares of the company’s stock valued at $280,000 after purchasing an additional 118 shares during the period. Golden State Equity Partners boosted its holdings in shares of Citigroup by 0.6% in the 2nd quarter. Golden State Equity Partners now owns 21,634 shares of the company’s stock worth $1,842,000 after purchasing an additional 122 shares during the period. Wedmont Private Capital boosted its holdings in shares of Citigroup by 0.5% in the 2nd quarter. Wedmont Private Capital now owns 23,706 shares of the company’s stock worth $2,034,000 after purchasing an additional 129 shares during the period. RDA Financial Network grew its position in Citigroup by 3.4% in the 2nd quarter. RDA Financial Network now owns 3,940 shares of the company’s stock valued at $335,000 after acquiring an additional 130 shares during the last quarter. Finally, DMKC Advisory Services LLC grew its position in Citigroup by 0.7% in the 2nd quarter. DMKC Advisory Services LLC now owns 19,838 shares of the company’s stock valued at $1,847,000 after acquiring an additional 131 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

C has been the subject of several research reports. TD Cowen upped their target price on Citigroup from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Wednesday, July 16th. Oppenheimer decreased their target price on Citigroup from $124.00 to $123.00 and set an “outperform” rating for the company in a report on Tuesday, September 23rd. Evercore ISI set a $77.00 target price on Citigroup in a report on Monday, July 7th. Morgan Stanley lifted their price target on Citigroup from $107.00 to $129.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Wall Street Zen upgraded Citigroup from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Eleven investment 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.com, Citigroup presently has an average rating of “Moderate Buy” and an average target price of $99.68.

Insiders Place Their Bets

In related news, Director Peter B. Henry sold 3,000 shares of the company’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the sale, the director owned 2,140 shares of the company’s stock, valued at $193,456. The trade was a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.08% of the stock is currently owned by insiders.

Citigroup Trading Up 0.2%

Shares of NYSE:C opened at $97.58 on Friday. The stock has a market capitalization of $179.64 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 0.83 and a beta of 1.37. Citigroup Inc. has a 1-year low of $55.51 and a 1-year high of $105.59. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. The company has a 50 day moving average price of $96.79 and a 200 day moving average price of $82.89.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.35. The firm had revenue of $21.67 billion during 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 company’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 4th were paid a $0.60 dividend. 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 yield of 2.5%. Citigroup’s payout ratio is presently 35.45%.

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.