Letko Brosseau & Associates Inc. Sells 33,810 Shares of Citigroup Inc. $C

Letko Brosseau & Associates Inc. lessened its holdings in Citigroup Inc. (NYSE:C) by 3.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 974,477 shares of the company’s stock after selling 33,810 shares during the quarter. Citigroup makes up approximately 1.6% of Letko Brosseau & Associates Inc.’s investment portfolio, making the stock its 21st largest position. Letko Brosseau & Associates Inc.’s holdings in Citigroup were worth $82,947,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Accent Capital Management LLC boosted its holdings in Citigroup by 106.0% in the first quarter. Accent Capital Management LLC now owns 412 shares of the company’s stock valued at $29,000 after acquiring an additional 212 shares during the last quarter. Truvestments Capital LLC boosted its stake in shares of Citigroup by 131.6% in the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company’s stock valued at $31,000 after purchasing an additional 246 shares during the last quarter. DHJJ Financial Advisors Ltd. increased its position in shares of Citigroup by 157.1% during the second quarter. DHJJ Financial Advisors Ltd. now owns 414 shares of the company’s stock worth $35,000 after buying an additional 253 shares during the period. HHM Wealth Advisors LLC lifted its holdings in Citigroup by 805.2% in the first quarter. HHM Wealth Advisors LLC now owns 525 shares of the company’s stock valued at $37,000 after buying an additional 467 shares during the period. Finally, WPG Advisers LLC bought a new position in shares of Citigroup during the 1st quarter worth about $38,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Down 0.4%

C opened at $100.24 on Friday. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $105.59. The firm has a market capitalization of $179.35 billion, a P/E ratio of 14.08, a PEG ratio of 0.83 and a beta of 1.37. The company’s 50-day moving average is $99.66 and its 200 day moving average is $90.00. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.99 and a quick ratio of 0.99.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, October 14th. The company reported $2.24 EPS for the quarter, beating the consensus estimate of $1.89 by $0.35. Citigroup had a net margin of 8.73% and a return on equity of 7.91%. The firm had revenue of $22.09 billion during the quarter, compared to analyst estimates of $20.92 billion. During the same quarter last year, the business posted $1.51 EPS. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. Research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. TD Cowen upped their price target on Citigroup from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Dbs Bank cut Citigroup from a “moderate buy” rating to a “hold” rating in a report on Monday, September 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Citigroup in a research note on Wednesday, October 8th. Barclays raised their price objective on shares of Citigroup from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Finally, Wells Fargo & Company boosted their target price on shares of Citigroup from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Eleven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and a consensus price target of $107.63.

Citigroup Profile

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.