Wedbush Securities Inc. Acquires 7,674 Shares of Citigroup Inc. (NYSE:C)

Wedbush Securities Inc. lifted its holdings in Citigroup Inc. (NYSE:C) by 16.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,461 shares of the company’s stock after buying an additional 7,674 shares during the quarter. Wedbush Securities Inc.’s holdings in Citigroup were worth $3,866,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in C. Orion Capital Management LLC acquired a new position in shares of Citigroup during the 4th quarter worth about $28,000. MorganRosel Wealth Management LLC acquired a new position in shares of Citigroup during the 1st quarter worth about $28,000. American National Bank & Trust acquired a new position in shares of Citigroup during the 1st quarter worth about $29,000. Mascagni Wealth Management Inc. acquired a new position in shares of Citigroup during the 4th quarter worth about $34,000. Finally, Cornerstone Planning Group LLC grew its position in shares of Citigroup by 68.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 577 shares of the company’s stock worth $38,000 after buying an additional 234 shares during the period. 71.72% of the stock is owned by institutional investors.

Insider Buying and Selling at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the business’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the transaction, the director owned 2,140 shares of the company’s stock, valued at approximately $193,456. The trade was a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Cunningham Dugan sold 4,417 shares of the business’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the sale, the director owned 13,048 shares in the company, valued at approximately $890,656.48. The trade was a 25.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

Citigroup Trading Up 1.6%

Shares of C stock opened at $94.09 on Wednesday. The company has a market cap of $175.74 billion, a P/E ratio of 13.90, a PEG ratio of 0.80 and a beta of 1.34. The stock has a 50 day simple moving average of $80.43 and a two-hundred day simple moving average of $75.52. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.99. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $94.76.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The firm had revenue of $21.67 billion during the quarter, compared to analysts’ expectations of $20.75 billion. During the same quarter last year, the firm posted $1.52 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. Research analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be given a $0.60 dividend. The ex-dividend date is Monday, August 4th. This represents a $2.40 annualized dividend and a yield of 2.55%. This is a boost from Citigroup’s previous quarterly dividend of $0.56. Citigroup’s payout ratio is currently 35.45%.

Analysts Set New Price Targets

C has been the topic of several research reports. Bank of America boosted their target price on Citigroup from $89.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, June 26th. Piper Sandler lifted their price objective on shares of Citigroup from $84.00 to $104.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Oppenheimer set a $123.00 price objective on Citigroup and gave the company an “outperform” rating in a report on Wednesday, July 16th. Royal Bank Of Canada decreased their price objective on Citigroup from $85.00 to $78.00 and set an “outperform” rating on the stock in a report on Wednesday, April 16th. Finally, Wells Fargo & Company upped their price objective on Citigroup from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $96.46.

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.