Wright Investors Service Inc. Sells 21,654 Shares of Citigroup Inc. (NYSE:C)

Wright Investors Service Inc. reduced its position in shares of Citigroup Inc. (NYSE:C) by 47.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,757 shares of the company’s stock after selling 21,654 shares during the period. Wright Investors Service Inc.’s holdings in Citigroup were worth $1,672,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. American Century Companies Inc. raised its position in Citigroup by 2.3% in the second quarter. American Century Companies Inc. now owns 339,400 shares of the company’s stock valued at $21,538,000 after purchasing an additional 7,778 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Citigroup by 82.7% during the 2nd quarter. Parallel Advisors LLC now owns 28,001 shares of the company’s stock valued at $1,777,000 after purchasing an additional 12,671 shares in the last quarter. Wealthspire Advisors LLC lifted its stake in Citigroup by 13.0% in the second quarter. Wealthspire Advisors LLC now owns 3,977 shares of the company’s stock valued at $252,000 after buying an additional 457 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Citigroup by 1.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,279,685 shares of the company’s stock worth $208,129,000 after buying an additional 47,754 shares during the period. Finally, Thompson Siegel & Walmsley LLC lifted its position in shares of Citigroup by 1.4% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 73,563 shares of the company’s stock valued at $4,668,000 after acquiring an additional 985 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Citigroup Trading Up 2.2 %

Shares of C opened at $72.94 on Tuesday. Citigroup Inc. has a 1-year low of $50.51 and a 1-year high of $74.29. The company has a market capitalization of $137.95 billion, a P/E ratio of 21.14, a P/E/G ratio of 0.80 and a beta of 1.43. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. The firm’s 50 day simple moving average is $70.40 and its 200 day simple moving average is $65.15.

Citigroup (NYSE:C) last released its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. During the same quarter in the previous year, the company posted $1.52 EPS. Citigroup’s quarterly revenue was up .9% compared to the same quarter last year. Sell-side analysts forecast that Citigroup Inc. will post 5.86 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 annualized dividend and a yield of 3.07%. Citigroup’s payout ratio is 64.93%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on C. Oppenheimer lowered their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Truist Financial started coverage on Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective on the stock. Evercore ISI increased their target price on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Finally, The Goldman Sachs Group increased their price objective on shares of Citigroup from $72.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $80.13.

About Citigroup

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.