WESPAC Advisors SoCal LLC Purchases Shares of 10,521 Citigroup Inc. (NYSE:C)

WESPAC Advisors SoCal LLC purchased a new position in shares of Citigroup Inc. (NYSE:C - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,521 shares of the company's stock, valued at approximately $747,000.

Several other hedge funds also recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in shares of Citigroup by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company's stock valued at $2,853,484,000 after purchasing an additional 667,357 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Citigroup by 2.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,561,690 shares of the company's stock valued at $2,714,359,000 after acquiring an additional 815,003 shares during the last quarter. FMR LLC boosted its holdings in Citigroup by 29.7% in the fourth quarter. FMR LLC now owns 34,362,176 shares of the company's stock valued at $2,418,754,000 after acquiring an additional 7,863,718 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Citigroup by 9.3% in the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock valued at $2,311,048,000 after acquiring an additional 2,804,850 shares during the last quarter. Finally, Capital World Investors boosted its holdings in Citigroup by 455.2% in the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company's stock valued at $2,206,908,000 after acquiring an additional 25,705,141 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on C. Evercore ISI set a $77.00 price objective on Citigroup in a research note on Monday, July 7th. Royal Bank Of Canada reduced their price objective on Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Truist Financial boosted their price target on Citigroup from $93.00 to $99.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. cut their price target on Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Finally, Piper Sandler reiterated an "overweight" rating and issued a $104.00 price target (up previously from $84.00) on shares of Citigroup in a research note on Wednesday, July 16th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.46.

Insider Transactions at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the sale, the director owned 2,140 shares in the company, valued at approximately $193,456. This trade represents a 58.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the sale, the director owned 13,048 shares in the company, valued at $890,656.48. This represents a 25.29% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.08% of the company's stock.

Citigroup Stock Up 0.7%

NYSE:C traded up $0.65 on Friday, hitting $96.04. 13,537,763 shares of the company's stock were exchanged, compared to its average volume of 16,283,003. The firm has a 50-day moving average price of $82.36 and a 200-day moving average price of $76.25. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $96.90. The company has a market cap of $179.37 billion, a P/E ratio of 14.19, a price-to-earnings-growth ratio of 0.82 and a beta of 1.34.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.35. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same period in the previous year, the business earned $1.52 EPS. Citigroup's revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be issued a $0.60 dividend. The ex-dividend date is Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a yield of 2.50%. This is an increase from Citigroup's previous quarterly dividend of $0.56. Citigroup's payout ratio is currently 35.45%.

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.