Essential Partners LLC Trims Stock Holdings in Citigroup Inc. $C

Essential Partners LLC cut its holdings in shares of Citigroup Inc. (NYSE:C) by 81.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,217 shares of the company’s stock after selling 18,313 shares during the quarter. Essential Partners LLC’s holdings in Citigroup were worth $590,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in C. Paladin Partners LLC purchased a new position in shares of Citigroup during the 2nd quarter valued at approximately $27,000. Mcguire Capital Advisors Inc. bought a new stake in shares of Citigroup in the fourth quarter worth $25,000. Whipplewood Advisors LLC bought a new stake in shares of Citigroup in the first quarter worth $25,000. Richards Merrill & Peterson Inc. acquired a new stake in Citigroup in the fourth quarter valued at $28,000. Finally, TD Capital Management LLC acquired a new stake in Citigroup in the fourth quarter valued at $28,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Stock Performance

Citigroup stock opened at $137.66 on Wednesday. The company has a market cap of $234.79 billion, a PE ratio of 14.87, a P/E/G ratio of 0.63 and a beta of 1.12. The company has a fifty day moving average price of $137.54 and a two-hundred day moving average price of $126.02. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.99 and a quick ratio of 0.99. Citigroup Inc. has a 12 month low of $90.68 and a 12 month high of $147.96.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.41. The company had revenue of $24.77 billion for the quarter, compared to analysts’ expectations of $23.74 billion. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The firm’s revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.96 earnings per share. Research analysts expect that Citigroup Inc. will post 11.2 earnings per share for the current year.

Citigroup declared that its Board of Directors has initiated a share buyback program on Thursday, May 7th that allows the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 13.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 3rd will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from Citigroup’s previous quarterly dividend of $0.60. Citigroup’s payout ratio is currently 28.94%.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup plans to launch institutional Bitcoin custody services later this year, allowing clients to hold digital and traditional assets under one framework. The offering could create new fee revenue, strengthen Citi’s institutional-asset franchise and help the bank compete with major Wall Street rivals in digital-asset infrastructure. Bitcoin Custody for Institutional Clients Is Coming to Citi Later This Year
• Positive Sentiment: Citi also introduced its Custody+ platform, featuring continuous settlement, artificial-intelligence tools and an in-house tokenization rail through Citi Token Services. The platform supports the bank’s strategy of modernizing custody and transaction services, although the immediate earnings contribution remains uncertain. Citigroup Rolls Out Custody+ Platform With Bitcoin Services and Continuous Settlement
• Neutral Sentiment: Citi’s research team said prediction markets point toward a divided U.S. government after the midterm elections and outlined potential trading implications. The analysis may influence views on regulation, fiscal policy and bank-sector conditions, but it does not represent a direct change to Citigroup’s fundamentals. Prediction Markets See a Divided Government After Midterm Elections
• Negative Sentiment: Citigroup and five other banks agreed to an $86.4 million settlement resolving allegations of manipulation in Mexico’s bond market. Citi’s share of the payment was not specified, but the resolution creates a modest cost and reinforces regulatory and litigation risks for the bank. Major US Banks Agree to $86.4M Settlement in Mexican Bond-Rigging Case

Analyst Ratings Changes

Several research analysts have weighed in on C shares. Wall Street Zen lowered shares of Citigroup from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Wells Fargo & Company upped their target price on shares of Citigroup from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, June 18th. Argus set a $150.00 price target on shares of Citigroup in a research report on Wednesday, July 15th. Truist Financial decreased their price target on Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Finally, Morgan Stanley boosted their price objective on Citigroup from $154.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and an average target price of $145.22.

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.