WBI Investments LLC Sells 37,769 Shares of Citigroup Inc. (NYSE:C)

WBI Investments LLC lessened its stake in shares of Citigroup Inc. (NYSE:C) by 81.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,734 shares of the company’s stock after selling 37,769 shares during the quarter. WBI Investments LLC’s holdings in Citigroup were worth $552,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in Citigroup by 18.4% during the 1st quarter. Bank of New York Mellon Corp now owns 29,756,568 shares of the company’s stock valued at $1,881,805,000 after purchasing an additional 4,620,867 shares during the period. Fisher Asset Management LLC lifted its position in shares of Citigroup by 8.0% in the 4th quarter. Fisher Asset Management LLC now owns 24,755,277 shares of the company’s stock worth $1,273,411,000 after acquiring an additional 1,836,283 shares during the period. Putnam Investments LLC lifted its position in shares of Citigroup by 7.9% in the 4th quarter. Putnam Investments LLC now owns 17,775,952 shares of the company’s stock worth $914,395,000 after acquiring an additional 1,300,520 shares during the period. Norges Bank bought a new stake in shares of Citigroup in the 4th quarter worth approximately $867,599,000. Finally, Pzena Investment Management LLC lifted its position in shares of Citigroup by 1.3% in the 4th quarter. Pzena Investment Management LLC now owns 16,850,636 shares of the company’s stock worth $866,797,000 after acquiring an additional 223,206 shares during the period. Institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on C. BMO Capital Markets increased their target price on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday. StockNews.com raised Citigroup from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. Jefferies Financial Group raised their price target on Citigroup from $56.00 to $65.00 and gave the company a “hold” rating in a report on Monday, April 8th. Evercore ISI increased their price objective on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research report on Wednesday, July 3rd. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $80.00 price target on shares of Citigroup in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $65.66.

Citigroup Price Performance

Shares of C traded down $1.41 during trading hours on Thursday, hitting $65.57. 12,885,884 shares of the company were exchanged, compared to its average volume of 14,852,697. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $66.99. The company has a market cap of $125.07 billion, a price-to-earnings ratio of 19.43, a P/E/G ratio of 0.99 and a beta of 1.46. The firm’s fifty day moving average is $62.54 and its 200 day moving average is $58.75.

Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.29. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The business had revenue of $21.10 billion during the quarter, compared to the consensus estimate of $20.46 billion. During the same period in the prior 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, equities analysts anticipate that Citigroup Inc. will post 5.86 earnings per share for the current fiscal year.

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.