Wright Investors Service Inc. Sells 6,608 Shares of Citigroup Inc. (NYSE:C)

Wright Investors Service Inc. reduced its holdings in shares of Citigroup Inc. (NYSE:C) by 8.2% during the fourth quarter, Holdings Channel reports. The fund owned 73,694 shares of the company’s stock after selling 6,608 shares during the period. Citigroup comprises about 1.1% of Wright Investors Service Inc.’s investment portfolio, making the stock its 27th biggest position. Wright Investors Service Inc.’s holdings in Citigroup were worth $3,791,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Snider Financial Group boosted its position in Citigroup by 96,645.9% during the 1st quarter. Snider Financial Group now owns 84,494,926 shares of the company’s stock valued at $4,512,000 after acquiring an additional 84,407,589 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Citigroup by 1.5% during the 1st quarter. Geode Capital Management LLC now owns 35,179,006 shares of the company’s stock valued at $1,646,775,000 after buying an additional 519,202 shares in the last quarter. Morgan Stanley grew its position in shares of Citigroup by 2.6% in the 4th quarter. Morgan Stanley now owns 25,852,678 shares of the company’s stock worth $1,169,317,000 after buying an additional 666,560 shares during the period. Northern Trust Corp lifted its position in Citigroup by 1.2% during the 3rd quarter. Northern Trust Corp now owns 20,051,311 shares of the company’s stock valued at $824,710,000 after acquiring an additional 232,652 shares during the period. Finally, Pzena Investment Management LLC boosted its stake in Citigroup by 3.0% during the third quarter. Pzena Investment Management LLC now owns 16,627,430 shares of the company’s stock worth $683,886,000 after acquiring an additional 486,952 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on C. BMO Capital Markets downgraded Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 target price on the stock. in a report on Wednesday, January 10th. Keefe, Bruyette & Woods increased their price target on shares of Citigroup from $54.00 to $66.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Wolfe Research raised shares of Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a report on Wednesday, January 3rd. Oppenheimer lowered their price objective on shares of Citigroup from $88.00 to $87.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Barclays lifted their target price on shares of Citigroup from $59.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $62.91.

Citigroup Trading Up 1.1 %

Shares of C stock traded up $0.62 on Thursday, reaching $58.79. 3,160,393 shares of the company’s stock were exchanged, compared to its average volume of 17,136,105. The company’s fifty day simple moving average is $58.11 and its 200 day simple moving average is $50.98. The stock has a market capitalization of $112.60 billion, a PE ratio of 17.21, a P/E/G ratio of 0.86 and a beta of 1.52. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $63.90.

Citigroup (NYSE:C) last posted its quarterly 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. The company had revenue of $21.10 billion for the quarter, compared to the consensus estimate of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.86 EPS. As a group, analysts forecast that Citigroup Inc. will post 5.91 EPS for the current year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.61%. The ex-dividend date is Friday, May 3rd. Citigroup’s dividend payout ratio is currently 62.72%.

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.