Conning Inc. Trims Position in Citigroup Inc. $C

Conning Inc. lessened its stake in shares of Citigroup Inc. (NYSE:C) by 3.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,352 shares of the company’s stock after selling 441 shares during the quarter. Conning Inc.’s holdings in Citigroup were worth $1,222,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in C. Brighton Jones LLC grew its holdings in Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after buying an additional 12,499 shares in the last quarter. GAMMA Investing LLC grew its holdings in Citigroup by 12.7% during the 1st quarter. GAMMA Investing LLC now owns 34,236 shares of the company’s stock valued at $2,430,000 after buying an additional 3,855 shares in the last quarter. Simplicity Wealth LLC purchased a new position in Citigroup during the 1st quarter valued at about $230,000. Focus Financial Network Inc. grew its holdings in Citigroup by 5.7% during the 1st quarter. Focus Financial Network Inc. now owns 11,226 shares of the company’s stock valued at $797,000 after buying an additional 605 shares in the last quarter. Finally, Simon Quick Advisors LLC grew its holdings in Citigroup by 38.2% during the 1st quarter. Simon Quick Advisors LLC now owns 11,314 shares of the company’s stock valued at $803,000 after buying an additional 3,126 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Insider Activity at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the company’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the sale, the director directly owned 2,140 shares of the company’s stock, valued at $193,456. This represents a 58.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Citigroup in a report on Wednesday, July 16th. Truist Financial boosted their price objective on Citigroup from $105.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. UBS Group reissued a “neutral” rating and set a $89.00 price objective on shares of Citigroup in a report on Tuesday, July 15th. The Goldman Sachs Group boosted their price objective on Citigroup from $85.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Citigroup in a report on Wednesday. Eleven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $99.68.

Citigroup Price Performance

Shares of Citigroup stock opened at $93.87 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. The company has a market cap of $172.81 billion, a PE ratio of 13.87, a P/E/G ratio of 0.84 and a beta of 1.37. The business has a 50 day moving average of $97.00 and a 200 day moving average of $83.71. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $105.59.

Citigroup (NYSE:C) last announced its 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. The company had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 4th were issued a dividend of $0.60 per share. This is a boost from Citigroup’s previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Monday, August 4th. Citigroup’s dividend payout ratio is currently 35.45%.

Citigroup Company 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.