CWA Asset Management Group LLC Has $4.93 Million Stock Position in Citigroup Inc. (NYSE:C)

CWA Asset Management Group LLC boosted its stake in Citigroup Inc. (NYSE:C - Free Report) by 45.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,395 shares of the company's stock after purchasing an additional 21,751 shares during the quarter. CWA Asset Management Group LLC's holdings in Citigroup were worth $4,926,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Citigroup in the fourth quarter worth about $1,935,599,000. Capital World Investors boosted its position 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 buying an additional 25,705,141 shares in the last quarter. FMR LLC grew its stake in shares of Citigroup by 29.7% during the fourth quarter. FMR LLC now owns 34,362,176 shares of the company's stock worth $2,418,754,000 after buying an additional 7,863,718 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Citigroup during the fourth quarter worth $198,231,000. Finally, Franklin Resources Inc. lifted its stake in shares of Citigroup by 9.3% in the 4th 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. Institutional investors own 71.72% of the company's stock.

Insider Activity

In related news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction 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 completion of the sale, the director now owns 13,048 shares of the company's stock, valued at approximately $890,656.48. This trade represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. The Goldman Sachs Group raised their target price on Citigroup from $75.00 to $85.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Truist Financial cut their price objective on Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Bank of America reduced their target price on Citigroup from $90.00 to $89.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Wall Street Zen upgraded shares of Citigroup from a "sell" rating to a "hold" rating in a report on Sunday, June 1st. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $77.00 price objective (down from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $84.30.

Citigroup Trading Down 0.9%

Shares of C stock opened at $77.37 on Wednesday. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.52. The company has a 50 day moving average of $71.66 and a 200-day moving average of $73.13. The firm has a market cap of $144.51 billion, a P/E ratio of 12.22, a PEG ratio of 0.60 and a beta of 1.33.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.12. The company had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. Sell-side analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date was Monday, May 5th. Citigroup's payout ratio is presently 35.39%.

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.

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