Kovack Advisors Inc. Has $453,000 Position in Citigroup Inc. $C

Kovack Advisors Inc. cut its position in shares of Citigroup Inc. (NYSE:C) by 22.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,327 shares of the company’s stock after selling 1,522 shares during the quarter. Kovack Advisors Inc.’s holdings in Citigroup were worth $453,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in C. Private Advisory Group LLC lifted its stake in Citigroup by 20.8% during the first quarter. Private Advisory Group LLC now owns 69,581 shares of the company’s stock worth $4,940,000 after purchasing an additional 11,978 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of Citigroup by 109.0% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company’s stock valued at $88,458,000 after purchasing an additional 649,807 shares during the period. Brighton Jones LLC raised its holdings in shares of Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after buying an additional 12,499 shares in the last quarter. Onyx Bridge Wealth Group LLC bought a new position in shares of Citigroup during the 1st quarter worth approximately $214,000. Finally, Hayek Kallen Investment Management boosted its stake in Citigroup by 125.0% in the 1st quarter. Hayek Kallen Investment Management now owns 15,534 shares of the company’s stock valued at $1,103,000 after buying an additional 8,630 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Up 1.2%

NYSE C opened at $101.42 on Friday. The stock has a market capitalization of $186.69 billion, a P/E ratio of 14.24, a price-to-earnings-growth ratio of 0.83 and a beta of 1.37. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $105.59. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a fifty day moving average of $98.62 and a 200-day moving average of $87.51.

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

Citigroup Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on C. Piper Sandler increased their price objective on Citigroup from $107.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Barclays increased their target price on shares of Citigroup from $100.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. TD Cowen boosted their target price on Citigroup from $105.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Keefe, Bruyette & Woods lifted their price objective on Citigroup from $112.00 to $118.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Finally, Morgan Stanley boosted their price objective on Citigroup from $129.00 to $134.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $107.63.

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.