Citigroup Inc. $C Shares Sold by Norway Savings Bank

by · The Cerbat Gem

Norway Savings Bank reduced its position in Citigroup Inc. (NYSE:C – Free Report) by 7.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,850 shares of the company’s stock after selling 230 shares during the period. Norway Savings Bank’s holdings in Citigroup were worth $243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Private Advisory Group LLC lifted its stake in shares of Citigroup by 20.8% in the 1st quarter. Private Advisory Group LLC now owns 69,581 shares of the company’s stock valued at $4,940,000 after purchasing an additional 11,978 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted 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 lifted its stake in shares of Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after purchasing an additional 12,499 shares during the period. Onyx Bridge Wealth Group LLC acquired a new position in shares of Citigroup in the 1st quarter valued at $214,000. Finally, Pinnacle Financial Partners Inc lifted its stake in shares of Citigroup by 495.1% in the 1st quarter. Pinnacle Financial Partners Inc now owns 18,554 shares of the company’s stock valued at $1,317,000 after purchasing an additional 15,436 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Price Performance

Shares of NYSE C opened at $99.51 on Friday. The firm has a 50-day simple moving average of $93.63 and a 200-day simple moving average of $79.86. The stock has a market capitalization of $183.19 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 0.85 and a beta of 1.41. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. Citigroup Inc. has a 52 week low of $55.51 and a 52 week high of $99.70.

Citigroup (NYSE:C – Get Free Report) last issued 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 business had revenue of $21.67 billion during the quarter, compared to analysts’ expectations of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. On average, equities analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 4th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. This is a positive change from Citigroup’s previous quarterly dividend of $0.56. The ex-dividend date was Monday, August 4th. Citigroup’s dividend payout ratio (DPR) is currently 35.45%.

Insider Activity at Citigroup

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on C shares. Truist Financial boosted their target price on shares of Citigroup from $99.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Morgan Stanley increased their price objective on shares of Citigroup from $103.00 to $107.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Evercore ISI set a $77.00 target price on shares of Citigroup in a research report on Monday, July 7th. Oppenheimer lifted their target price on shares of Citigroup from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Finally, Wells Fargo & Company lifted their target price on shares of Citigroup from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Citigroup has an average rating of “Moderate Buy” and an average target price of $96.96.

View Our Latest Stock Analysis on C

Citigroup Profile

(Free Report)

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.

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