Carret Asset Management LLC Sells 256 Shares of Citigroup Inc. $C

Carret Asset Management LLC trimmed its position in Citigroup Inc. (NYSE:C) by 0.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 27,137 shares of the company’s stock after selling 256 shares during the period. Carret Asset Management LLC’s holdings in Citigroup were worth $2,310,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Savvy Advisors Inc. grew its position in shares of Citigroup by 33.7% during the 2nd quarter. Savvy Advisors Inc. now owns 12,431 shares of the company’s stock valued at $1,058,000 after acquiring an additional 3,134 shares during the period. Assetmark Inc. grew its position in shares of Citigroup by 29.8% during the 2nd quarter. Assetmark Inc. now owns 187,236 shares of the company’s stock valued at $15,937,000 after acquiring an additional 42,962 shares during the period. Premier Path Wealth Partners LLC grew its position in shares of Citigroup by 9.5% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 15,866 shares of the company’s stock valued at $1,351,000 after acquiring an additional 1,381 shares during the period. Spire Wealth Management lifted its stake in shares of Citigroup by 122.4% during the 2nd quarter. Spire Wealth Management now owns 17,851 shares of the company’s stock valued at $1,519,000 after buying an additional 9,824 shares in the last quarter. Finally, World Investment Advisors lifted its stake in shares of Citigroup by 190.0% during the 2nd quarter. World Investment Advisors now owns 97,480 shares of the company’s stock valued at $8,297,000 after buying an additional 63,866 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on C. Truist Financial upped 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. Wells Fargo & Company upped their price target on shares of Citigroup from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Wall Street Zen upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. TD Cowen increased their target price on shares of Citigroup from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Citigroup from $112.00 to $118.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $107.63.

Citigroup Price Performance

Shares of NYSE:C opened at $99.16 on Thursday. The stock has a market cap of $182.54 billion, a PE ratio of 13.93, a PEG ratio of 0.85 and a beta of 1.37. The company’s fifty day moving average is $98.35 and its 200 day moving average is $87.00. 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 1.62.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 14th. The company reported $1.86 EPS for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.03). The business had revenue of $22.09 billion during the quarter, compared to analysts’ expectations of $20.92 billion. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.Citigroup’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.51 EPS. Citigroup has set its FY 2025 guidance at EPS. Research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

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

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.