World Equity Group Inc. Buys 5,543 Shares of Citigroup Inc. (NYSE:C)

World Equity Group Inc. boosted its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 46.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,523 shares of the company's stock after purchasing an additional 5,543 shares during the period. World Equity Group Inc.'s holdings in Citigroup were worth $1,232,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in C. Geode Capital Management LLC raised its position in Citigroup by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company's stock worth $2,853,484,000 after acquiring an additional 667,357 shares during the period. Price T Rowe Associates Inc. MD raised its position 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 worth $2,714,359,000 after acquiring an additional 815,003 shares during the period. FMR LLC raised its position in Citigroup by 29.7% in the fourth quarter. FMR LLC now owns 34,362,176 shares of the company's stock worth $2,418,754,000 after acquiring an additional 7,863,718 shares during the period. Franklin Resources Inc. raised its position in shares of Citigroup by 9.3% during the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock valued at $2,311,048,000 after purchasing an additional 2,804,850 shares during the period. Finally, Capital World Investors raised its position in shares of 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 purchasing an additional 25,705,141 shares during the period. Institutional investors own 71.72% of the company's stock.

Insiders Place Their Bets

In related news, 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 transaction, the director now directly owns 13,048 shares of the company's stock, valued at approximately $890,656.48. The trade was a 25.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.08% of the company's stock.

Citigroup Stock Performance

Shares of NYSE:C opened at $78.39 on Friday. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74. The stock has a market capitalization of $146.41 billion, a P/E ratio of 12.38, a PEG ratio of 0.60 and a beta of 1.33. The firm has a fifty day simple moving average of $72.60 and a two-hundred day simple moving average of $73.26. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.52.

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

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a $0.56 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.86%. Citigroup's payout ratio is currently 35.39%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Morgan Stanley decreased their price objective on shares of Citigroup from $110.00 to $109.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Oppenheimer restated an "outperform" rating on shares of Citigroup in a research report on Tuesday, May 20th. TD Cowen assumed coverage on shares of Citigroup in a research report on Thursday, May 15th. They set a "hold" rating and a $83.00 price objective on the stock. Piper Sandler restated an "overweight" rating and set a $77.00 price objective (down from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $84.30.

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.

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