Douglas Lane & Associates LLC Cuts Stock Holdings in Citigroup Inc. $C

Douglas Lane & Associates LLC decreased its stake in shares of Citigroup Inc. (NYSE:C) by 6.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 390,614 shares of the company’s stock after selling 25,066 shares during the period. Douglas Lane & Associates LLC’s holdings in Citigroup were worth $50,577,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Cora Capital Advisors LLC boosted its holdings in shares of Citigroup by 3.1% during the 1st quarter. Cora Capital Advisors LLC now owns 2,609 shares of the company’s stock worth $296,000 after buying an additional 78 shares during the period. CFS Investment Advisory Services LLC lifted its position in Citigroup by 0.4% during the 1st 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 last quarter. Grove Bank & Trust lifted its position in Citigroup by 1.8% during the 3rd quarter. Grove Bank & Trust now owns 4,549 shares of the company’s stock worth $589,000 after acquiring an additional 79 shares during the last quarter. American Trust boosted its holdings in Citigroup by 3.6% during the second quarter. American Trust now owns 2,331 shares of the company’s stock valued at $326,000 after acquiring an additional 80 shares during the period. Finally, Invst LLC boosted its holdings in Citigroup by 0.8% during the second quarter. Invst LLC now owns 9,601 shares of the company’s stock valued at $1,344,000 after acquiring an additional 80 shares during the period. Institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of NYSE:C traded up $0.82 during midday trading on Friday, reaching $128.90. 2,523,301 shares of the company’s stock were exchanged, compared to its average volume of 12,421,789. The firm has a market capitalization of $219.84 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 0.56 and a beta of 1.13. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup Inc. has a 12 month low of $93.66 and a 12 month high of $147.96. The company’s 50 day simple moving average is $133.80 and its two-hundred day simple moving average is $131.31.

Citigroup (NYSE:C) last issued its 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 $24.77 billion during the quarter, compared to analysts’ expectations of $23.74 billion. During the same period in the prior year, the firm posted $1.96 EPS. Citigroup’s quarterly revenue was up 14.5% compared to the same quarter last year. Equities research analysts expect that Citigroup Inc. will post 11.19 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 3rd were given a dividend of $0.67 per share. The ex-dividend date was 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 2.1%. Citigroup’s dividend payout ratio is presently 28.94%.

Analyst Ratings Changes

Several equities analysts recently weighed in on C shares. Evercore set a $140.00 price objective on Citigroup in a research report on Thursday, October 1st. TD Cowen initiated coverage on Citigroup in a research report on Thursday. They issued a “buy” rating and a $150.00 price target on the stock. UBS Group cut their price target on Citigroup from $142.00 to $139.00 and set a “neutral” rating for the company in a report on Monday. Bank of America raised their price objective on shares of Citigroup from $170.00 to $176.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Citigroup from $149.00 to $147.00 and set an “overweight” rating on the stock in a research report on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and an average price target of $151.28.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Analysts expect third-quarter performance to benefit from higher net interest income and market revenues. Investors will also watch for evidence that cost reductions and continued share buybacks or dividend increases are improving returns on capital. Here’s How to Play Citigroup Stock Ahead of Q3 Earnings Release
• Positive Sentiment: TD Cowen initiated coverage with a Buy rating and a $150 price target, implying substantial upside from recent trading levels. Other commentary argues Citi could rerate closer to larger bank peers if its restructuring produces more consistent profitability. TD Cowen initiates Citigroup coverage Citigroup Has Trailed Financial Stocks. Expect That to Change.
• Positive Sentiment: Citi’s expanded collaboration with Coinbase is positioning its payment infrastructure for stablecoin and digital-asset transactions. The initiative could create longer-term fee and payments opportunities, although its financial contribution is not yet quantified. Citi Just Connected Its $6 Trillion Payment Network to Stablecoin Rails
• Neutral Sentiment: Citigroup’s dividend was recently increased, but comparisons with JPMorgan highlight Citi’s history of cutting its payout sharply during stressful periods. This makes capital strength and the sustainability of earnings important issues ahead of results. JPM vs. C: Which Bank Dividend Actually Survives the Next Crisis?
• Negative Sentiment: UBS lowered its Citigroup price target to $139, while separate analysis questions whether the stock’s roughly 238% three-year advance is fully supported by durable improvements in returns on capital. That raises the risk of profit-taking if Q3 results or guidance disappoint. UBS Group Cuts Citigroup Price Target Can Citigroup Trade At A Discount After a 238% Run?
• Negative Sentiment: Rising Treasury yields and broader market volatility remain potential headwinds for banks, affecting bond portfolios, funding costs and credit conditions. Escalating Middle East tensions could further increase volatility in oil prices, rates and financial markets.

About Citigroup

Citigroup Inc is a global financial services company headquartered in New York City and listed on the New York Stock Exchange under the symbol C. Through its subsidiaries and businesses, Citi provides banking, lending, investment, payments, wealth management and other financial services to consumers, businesses, governments and institutional clients.

Citi’s principal businesses include Services, which supports institutional clients with treasury, trade, securities services and related solutions; Markets, which provides sales, trading, research and financing services; Banking, which offers investment banking and corporate banking; and Wealth, which provides private banking and wealth management.