Citigroup Inc. (NYSE:C) Shares Acquired by Wedbush Securities Inc.

Wedbush Securities Inc. lifted its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 16.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,461 shares of the company's stock after acquiring an additional 7,674 shares during the quarter. Wedbush Securities Inc.'s holdings in Citigroup were worth $3,866,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in Citigroup during the 4th quarter valued at about $1,935,599,000. Capital World Investors raised its holdings in Citigroup by 455.2% during the 4th 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 period. FMR LLC raised its holdings in Citigroup by 29.7% during the 4th 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 period. Franklin Resources Inc. increased its holdings in shares of Citigroup by 9.3% in the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock worth $2,311,048,000 after purchasing an additional 2,804,850 shares during the period. Finally, Capital International Investors increased its holdings in shares of Citigroup by 148.6% in the fourth quarter. Capital International Investors now owns 4,524,890 shares of the company's stock worth $318,507,000 after purchasing an additional 2,704,783 shares during the period. Institutional investors and hedge funds own 71.72% of the company's stock.

Citigroup Trading Up 0.7%

NYSE:C traded up $0.65 during mid-day trading on Friday, hitting $96.04. 13,537,763 shares of the stock traded hands, compared to its average volume of 16,283,003. The stock has a market capitalization of $179.37 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 0.82 and a beta of 1.34. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $96.90. The firm's 50 day moving average is $82.36 and its two-hundred day moving average is $76.25. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.61.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. The business had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The business's revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business posted $1.52 EPS. On average, equities research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The business also recently declared 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 of this dividend is Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.50%. This is a boost from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio (DPR) is currently 35.45%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on C shares. Dbs Bank upgraded shares of Citigroup from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Morgan Stanley increased their price target on shares of Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Truist Financial raised their target price on shares of Citigroup from $93.00 to $99.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Piper Sandler reissued an "overweight" rating and set a $104.00 price target (up previously from $84.00) on shares of Citigroup in a research report on Wednesday, July 16th. Finally, UBS Group reissued a "neutral" rating and set a $89.00 price target on shares of Citigroup in a research report on Tuesday, July 15th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Citigroup currently has a consensus rating of "Moderate Buy" and an average price target of $96.46.

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.