Wasatch Advisors LP Cuts Position in Citigroup Inc. (NYSE:C)

Wasatch Advisors LP lowered its position in Citigroup Inc. (NYSE:C) by 5.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,476 shares of the company’s stock after selling 3,906 shares during the quarter. Wasatch Advisors LP’s holdings in Citigroup were worth $4,077,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in C. Orion Capital Management LLC purchased a new stake in Citigroup during the fourth quarter worth approximately $26,000. Frazier Financial Advisors LLC acquired a new position in shares of Citigroup in the 4th quarter valued at $29,000. Beaird Harris Wealth Management LLC grew its position in shares of Citigroup by 1,962.1% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock valued at $31,000 after buying an additional 569 shares during the last quarter. Rakuten Securities Inc. acquired a new stake in Citigroup during the 4th quarter worth $35,000. Finally, Tennessee Valley Asset Management Partners purchased a new stake in Citigroup in the fourth quarter valued at $39,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on C shares. The Goldman Sachs Group reissued a “buy” rating on shares of Citigroup in a report on Monday, April 1st. StockNews.com raised shares of Citigroup from a “sell” rating to a “hold” rating in a research report on Tuesday, March 19th. Piper Sandler upped their target price on shares of Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Wells Fargo & Company reissued an “overweight” rating and set a $80.00 price target on shares of Citigroup in a report on Monday, April 1st. Finally, Morgan Stanley restated an “overweight” rating and issued a $65.00 price target on shares of Citigroup in a research report on Thursday, June 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.03.

Citigroup Price Performance

C stock traded up $1.25 during trading on Tuesday, hitting $64.68. The stock had a trading volume of 10,715,747 shares, compared to its average volume of 15,057,245. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $64.98. The stock has a market cap of $123.37 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 0.97 and a beta of 1.46. The company’s 50 day moving average price is $62.15 and its two-hundred day moving average price is $58.18. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95.

Citigroup (NYSE:C) last released its earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.29 by $0.29. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The firm had revenue of $21.10 billion during the quarter, compared to analysts’ expectations of $20.46 billion. During the same period in the previous year, the company earned $1.86 EPS. Citigroup’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, sell-side analysts forecast that Citigroup Inc. will post 5.86 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend was Friday, May 3rd. Citigroup’s dividend payout ratio is currently 62.72%.

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.