Manning & Napier Advisors LLC Decreases Stock Holdings in Citigroup Inc. $C

Manning & Napier Advisors LLC lessened its stake in Citigroup Inc. (NYSE:C) by 16.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 129,111 shares of the company’s stock after selling 26,023 shares during the period. Manning & Napier Advisors LLC’s holdings in Citigroup were worth $18,397,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Paladin Partners LLC bought a new position in Citigroup in the 2nd quarter worth $27,000. Mcguire Capital Advisors Inc. purchased a new position in shares of Citigroup in the fourth quarter worth $25,000. Whipplewood Advisors LLC bought a new stake in shares of Citigroup in the first quarter worth about $25,000. TD Capital Management LLC bought a new position in Citigroup during the fourth quarter valued at $28,000. Finally, IMG Wealth Management Inc. raised its position in Citigroup by 197.6% during the first quarter. IMG Wealth Management Inc. now owns 244 shares of the company’s stock valued at $28,000 after purchasing an additional 162 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup experienced unusual options activity, including bullish call sweeps and a reported $223 million after-hours block trade. The activity appears to reflect institutional interest and may provide short-term support for the shares. Citigroup Sees Unusual Options Activity and $223 Million Block Trade After Hours
• Positive Sentiment: Citi and India’s Axis Bank are partnering to capture nonresident Indian deposits and increase dollar inflows. The initiative could expand Citi’s cross-border deposits, payments and foreign-exchange business in a strategically important market. Citigroup and Axis Bank Team Up on Leveraged India Dollar Deposit Boom
• Positive Sentiment: Citigroup reported $647.2 billion in sustainable financing commitments since 2020 and established new 2030 goals. The progress may strengthen the bank’s relationships with corporate clients and support long-term fee opportunities, though the direct earnings impact is uncertain. Citi Reports Sustainable Finance Progress and Sets New 2030 Goals
• Neutral Sentiment: Analyst coverage remains favorable based on Citigroup’s average brokerage recommendation. However, the report cautions that sell-side ratings can be overly optimistic, limiting the reliability of this signal as a stand-alone reason to buy. Is Citigroup a Buy as Wall Street Analysts Look Optimistic?
• Neutral Sentiment: Citigroup has room under the national deposit cap to acquire a large regional bank, but CEO Jane Fraser continues to emphasize organic growth rather than mergers and acquisitions. This preserves strategic flexibility without creating an immediate deal catalyst. Wells Fargo and Citigroup Have Room to Buy a Big Bank

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Citigroup from $162.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, June 18th. Argus set a $150.00 price objective on shares of Citigroup in a research note on Wednesday, July 15th. Weiss Ratings restated a “buy (b)” rating on shares of Citigroup in a research note on Friday, July 17th. Truist Financial cut their price target on shares of Citigroup from $158.00 to $154.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and a consensus target price of $145.22.

Citigroup Stock Down 0.0%

C stock opened at $131.65 on Tuesday. The firm has a 50-day moving average of $137.01 and a two-hundred day moving average of $126.45. The company has a market cap of $224.54 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 0.59 and a beta of 1.12. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71. Citigroup Inc. has a 12 month low of $92.96 and a 12 month high of $147.96.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.74 by $0.41. The business had revenue of $24.77 billion during the quarter, compared to the consensus estimate of $23.74 billion. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period last year, the company earned $1.96 EPS. As a group, analysts forecast that Citigroup Inc. will post 11.2 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 7th that permits the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 13.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 3rd will be given a $0.67 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This is an increase from Citigroup’s previous quarterly dividend of $0.60. This represents a $2.68 dividend on an annualized basis and a yield of 2.0%. Citigroup’s dividend payout ratio is currently 28.94%.

About Citigroup

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.