Citigroup Inc. (NYSE:C) Shares Sold by Westside Investment Management Inc.

Westside Investment Management Inc. cut its holdings in Citigroup Inc. (NYSE:C) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,346 shares of the company’s stock after selling 150 shares during the quarter. Westside Investment Management Inc.’s holdings in Citigroup were worth $728,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in C. MassMutual Private Wealth & Trust FSB increased its position in shares of Citigroup by 1.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock valued at $592,000 after acquiring an additional 140 shares during the period. Lifestyle Asset Management Inc. increased its holdings in shares of Citigroup by 4.5% in the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock valued at $233,000 after purchasing an additional 160 shares during the period. Grove Bank & Trust increased its holdings in shares of Citigroup by 7.1% in the third quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock valued at $161,000 after purchasing an additional 170 shares during the period. MWA Asset Management raised its stake in shares of Citigroup by 1.4% in the third quarter. MWA Asset Management now owns 12,585 shares of the company’s stock worth $788,000 after purchasing an additional 173 shares during the last quarter. Finally, Bridge Creek Capital Management LLC lifted its holdings in shares of Citigroup by 0.3% during the third quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock worth $4,209,000 after purchasing an additional 175 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Performance

NYSE:C opened at $81.56 on Wednesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $154.25 billion, a PE ratio of 13.71, a P/E/G ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a fifty-two week low of $52.24 and a fifty-two week high of $81.85. The company has a fifty day moving average of $71.68 and a two-hundred day moving average of $65.77.

Citigroup (NYSE:C) last released its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.12. The firm had revenue of $19.58 billion during the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 EPS. As a group, research analysts forecast that Citigroup Inc. will post 7.49 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has approved a stock buyback program on Wednesday, January 15th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be given a $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.75%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on C. Morgan Stanley raised their price target on shares of Citigroup from $104.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Truist Financial assumed coverage on shares of Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price for the company. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 price target (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Evercore ISI boosted their price objective on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Finally, Bank of America lifted their price target on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

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.