Spahn Wealth & Retirement LLC Has $5.38 Million Holdings in Citigroup Inc. $C

Spahn Wealth & Retirement LLC cut its stake in Citigroup Inc. (NYSE:C) by 50.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,435 shares of the company’s stock after selling 47,753 shares during the quarter. Citigroup makes up approximately 6.9% of Spahn Wealth & Retirement LLC’s investment portfolio, making the stock its 6th largest holding. Spahn Wealth & Retirement LLC’s holdings in Citigroup were worth $5,380,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cora Capital Advisors LLC raised its holdings in Citigroup by 3.1% in the 1st quarter. Cora Capital Advisors LLC now owns 2,609 shares of the company’s stock valued at $296,000 after acquiring an additional 78 shares during the period. CFS Investment Advisory Services LLC boosted its holdings in shares of Citigroup by 0.4% during the first quarter. CFS Investment Advisory Services LLC now owns 20,596 shares of the company’s stock worth $2,336,000 after acquiring an additional 79 shares during the period. Verus Capital Partners LLC boosted its holdings in shares of Citigroup by 3.1% during the fourth quarter. Verus Capital Partners LLC now owns 2,748 shares of the company’s stock worth $321,000 after acquiring an additional 82 shares during the period. CFO Capital Management LLC grew its position in shares of Citigroup by 1.5% in the first quarter. CFO Capital Management LLC now owns 5,495 shares of the company’s stock valued at $590,000 after purchasing an additional 83 shares during the last quarter. Finally, D.B. Root & Company LLC grew its position in shares of Citigroup by 2.8% in the fourth quarter. D.B. Root & Company LLC now owns 3,191 shares of the company’s stock valued at $372,000 after purchasing an additional 87 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup priced an $817 million multifamily CMBS deal, its largest post-GFC multifamily-only securitization, underscoring continued strength in Citi’s commercial real estate capital markets franchise and demand for apartment-backed debt. Citigroup (C) Sets Post GFC Record With $817 Million Multifamily CMBS Deal
• Positive Sentiment: Several brokerages remain constructive on Citigroup after its strong second quarter, with analysts pointing to solid earnings, improving outlooks and rising estimates for the bank. Buy 3 Top-Ranked Big Investment Banks Amid Solid Q2 Earnings & Outlook
• Positive Sentiment: Citigroup raised its quarterly dividend to $0.67 per share from $0.60, signaling confidence in capital strength and offering a more attractive income profile for shareholders. Dividend announcement
• Neutral Sentiment: Citigroup was also in the news for hiring five U.S. tech investment banking executives, a move that could support franchise growth over time but is unlikely to move the stock immediately. Citigroup hires five US tech investment banking executives from rivals
• Negative Sentiment: Citi’s downgrade of agilon health to Sell shows the bank is still making cautious calls on certain sectors, but this is more relevant to agilon than to Citigroup’s own earnings outlook. Why agilon health (AGL) Shares Are Falling Today

Insider Buying and Selling

In related news, Director John Cunningham Dugan sold 2,117 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following the completion of the transaction, the director owned 12,194 shares of the company’s stock, valued at $1,527,908.20. The trade was a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is currently owned by company insiders.

Citigroup Stock Down 0.2%

NYSE C opened at $131.94 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71. The company has a market cap of $225.03 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 0.59 and a beta of 1.11. The company has a 50 day moving average of $134.84 and a 200-day moving average of $123.76. Citigroup Inc. has a 1-year low of $87.94 and a 1-year high of $147.96.

Citigroup (NYSE:C) last issued its quarterly 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. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The business had revenue of $24.75 billion for the quarter, compared to the consensus estimate of $23.74 billion. During the same quarter in the prior year, the business posted $1.96 earnings per share. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities research analysts expect that Citigroup Inc. will post 11.22 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has authorized a share buyback program on Thursday, May 7th that permits the company to buyback $30.00 billion in shares. This buyback authorization permits the company to reacquire up to 13.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 3rd will be given a $0.67 dividend. The ex-dividend date 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 dividend yield of 2.0%. Citigroup’s dividend payout ratio (DPR) is 25.92%.

Analyst Ratings Changes

Several analysts recently weighed in on C shares. Evercore set a $143.00 price target on Citigroup in a report on Monday, July 6th. Keefe, Bruyette & Woods upped their price objective on Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Morgan Stanley increased their price objective on Citigroup from $154.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Piper Sandler reissued an “overweight” rating and set a $145.00 target price (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Citigroup in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and an average target price of $145.67.

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.