Solitude Financial Services Reduces Stock Position in Citigroup Inc. $C

Solitude Financial Services reduced its holdings in shares of Citigroup Inc. (NYSE:C) by 26.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,200 shares of the company’s stock after selling 4,296 shares during the quarter. Citigroup comprises 0.4% of Solitude Financial Services’ investment portfolio, making the stock its 20th biggest position. Solitude Financial Services’ holdings in Citigroup were worth $1,038,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Joel Isaacson & Co. LLC lifted its stake in shares of Citigroup by 7.7% during the 2nd quarter. Joel Isaacson & Co. LLC now owns 5,947 shares of the company’s stock valued at $506,000 after buying an additional 426 shares in the last quarter. Tyche Wealth Partners LLC lifted its stake in shares of Citigroup by 33.4% during the 2nd quarter. Tyche Wealth Partners LLC now owns 7,947 shares of the company’s stock valued at $676,000 after buying an additional 1,989 shares in the last quarter. KLP Kapitalforvaltning AS lifted its stake in shares of Citigroup by 3.3% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 894,941 shares of the company’s stock valued at $76,177,000 after buying an additional 28,400 shares in the last quarter. Avantra Family Wealth Inc. lifted its stake in shares of Citigroup by 7.6% during the 2nd quarter. Avantra Family Wealth Inc. now owns 21,773 shares of the company’s stock valued at $1,853,000 after buying an additional 1,529 shares in the last quarter. Finally, Bingham Private Wealth LLC lifted its stake in shares of Citigroup by 3.8% during the 2nd quarter. Bingham Private Wealth LLC now owns 7,943 shares of the company’s stock valued at $676,000 after buying an additional 288 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Trading Up 0.3%

Shares of C opened at $98.02 on Tuesday. The firm’s 50 day simple moving average is $96.84 and its 200 day simple moving average is $83.23. The company has a market capitalization of $180.45 billion, a P/E ratio of 14.48, a P/E/G ratio of 0.84 and a beta of 1.37. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99. Citigroup Inc. has a 1-year low of $55.51 and a 1-year high of $105.59.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.35. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The business had revenue of $21.67 billion for the quarter, compared to analysts’ expectations of $20.75 billion. During the same period last year, the business earned $1.52 earnings per share. The business’s quarterly revenue was up 8.2% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were given a dividend of $0.60 per share. The ex-dividend date 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 2.4%. Citigroup’s dividend payout ratio (DPR) is 35.45%.

Insider Buying and Selling

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the transaction, the director directly owned 2,140 shares in the company, valued at $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Dbs Bank downgraded shares of Citigroup from a “moderate buy” rating to a “hold” rating in a report on Monday, September 22nd. Zacks Research downgraded shares of Citigroup from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Piper Sandler increased their price target on shares of Citigroup from $84.00 to $104.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Truist Financial increased their price target on shares of Citigroup from $105.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Finally, TD Cowen increased their price target on shares of Citigroup from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Wednesday, July 16th. Eleven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and a consensus target price of $99.68.

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.