Wedbush Securities Inc. Has $3.29 Million Stock Position in Citigroup Inc. (NYSE:C)

Wedbush Securities Inc. cut its stake in shares of Citigroup Inc. (NYSE:C) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,787 shares of the company’s stock after selling 1,979 shares during the period. Wedbush Securities Inc.’s holdings in Citigroup were worth $3,293,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Benjamin Edwards Inc. lifted its holdings in Citigroup by 1,188.9% during the third quarter. Benjamin Edwards Inc. now owns 11,561 shares of the company’s stock worth $724,000 after acquiring an additional 10,664 shares in the last quarter. Holocene Advisors LP bought a new position in shares of Citigroup during the 3rd quarter valued at about $1,270,000. HighTower Advisors LLC grew its position in shares of Citigroup by 2.4% in the 3rd quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock valued at $22,236,000 after purchasing an additional 8,301 shares during the period. Janus Henderson Group PLC raised its holdings in Citigroup by 280.2% during the 3rd quarter. Janus Henderson Group PLC now owns 952,909 shares of the company’s stock worth $59,655,000 after buying an additional 702,300 shares during the period. Finally, IHT Wealth Management LLC lifted its stake in Citigroup by 41.9% in the third quarter. IHT Wealth Management LLC now owns 17,905 shares of the company’s stock valued at $1,116,000 after buying an additional 5,285 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Insiders Place Their Bets

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the sale, the chief financial officer now owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sara Wechter sold 15,125 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total value of $1,225,276.25. Following the completion of the transaction, the insider now owns 109,780 shares of the company’s stock, valued at $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,590 shares of company stock worth $8,523,149 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on C. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $70.00 to $95.00 in a report on Monday, January 6th. The Goldman Sachs Group cut their price target on Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their price objective on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Finally, Bank of America decreased their target price on shares of Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and a consensus price target of $83.23.

Citigroup Stock Down 8.0 %

C opened at $58.00 on Friday. The stock’s fifty day simple moving average is $75.61 and its 200 day simple moving average is $70.95. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74. The stock has a market cap of $109.17 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last issued its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.12. The company had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company’s revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 earnings per share. As a group, research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup declared that its board has approved a stock repurchase plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date is Monday, May 5th. Citigroup’s dividend payout ratio is 37.65%.

Citigroup 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.