Wedge Capital Management L L P NC Has $33.09 Million Position in Citigroup Inc. (NYSE:C)

Wedge Capital Management L L P NC lowered its position in Citigroup Inc. (NYSE:C - Free Report) by 16.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 466,121 shares of the company's stock after selling 91,892 shares during the period. Wedge Capital Management L L P NC's holdings in Citigroup were worth $33,090,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Geode Capital Management LLC boosted its holdings 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 buying an additional 667,357 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Citigroup by 2.2% in the 4th 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 in the last quarter. FMR LLC lifted its position in Citigroup by 29.7% in 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 in the last quarter. Franklin Resources Inc. boosted its stake in Citigroup by 9.3% in the 4th 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 World Investors increased 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 worth $2,206,908,000 after purchasing an additional 25,705,141 shares in the last quarter. Institutional investors own 71.72% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Evercore ISI dropped their price target on Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a research note on Tuesday, April 1st. The Goldman Sachs Group decreased their price objective on Citigroup from $90.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. Royal Bank of Canada cut their target price on Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Cowen initiated coverage on Citigroup in a research report on Wednesday, May 14th. They set a "hold" rating for the company. Finally, Piper Sandler reiterated an "overweight" rating and issued a $77.00 price objective (down from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $83.97.

Insider Buying and Selling

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the firm's 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 $890,656.48. This trade represents a 25.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.08% of the stock is owned by insiders.

Citigroup Stock Performance

Shares of Citigroup stock traded up $1.65 during trading on Friday, hitting $78.32. 11,514,514 shares of the stock were exchanged, compared to its average volume of 14,600,134. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The company has a fifty day moving average price of $69.43 and a 200-day moving average price of $72.75. The stock has a market capitalization of $146.28 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 0.64 and a beta of 1.33. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.84 by $0.12. The business had revenue of $21.60 billion during the quarter, compared to analysts' expectations of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. As a group, equities analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors 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 dividend yield of 2.86%. 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.