Citigroup Inc. $C Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. cut its stake in Citigroup Inc. (NYSE:C) by 5.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 98,948 shares of the company’s stock after selling 5,390 shares during the quarter. Wedbush Securities Inc.’s holdings in Citigroup were worth $13,849,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of C. Geode Capital Management LLC boosted its position in shares of Citigroup by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 43,252,372 shares of the company’s stock valued at $5,036,712,000 after acquiring an additional 189,548 shares during the last quarter. Franklin Resources Inc. increased its position in Citigroup by 4.0% during the fourth quarter. Franklin Resources Inc. now owns 34,196,783 shares of the company’s stock worth $3,990,422,000 after purchasing an additional 1,326,224 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Citigroup by 2.6% in the 4th quarter. Fisher Asset Management LLC now owns 33,887,285 shares of the company’s stock valued at $3,954,307,000 after purchasing an additional 846,772 shares during the last quarter. Bank of America Corp DE boosted its holdings in Citigroup by 2.8% in the 1st quarter. Bank of America Corp DE now owns 26,869,012 shares of the company’s stock valued at $3,047,215,000 after purchasing an additional 728,043 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Citigroup in the 4th quarter valued at approximately $2,800,944,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of C opened at $132.77 on Friday. The firm has a 50-day simple moving average of $136.20 and a two-hundred day simple moving average of $126.81. The stock has a market cap of $226.45 billion, a PE ratio of 14.34, a P/E/G ratio of 0.60 and a beta of 1.12. Citigroup Inc. has a 1-year low of $92.96 and a 1-year high of $147.96. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.99 and a quick ratio of 0.99.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, topping the consensus estimate of $2.74 by $0.41. The firm had revenue of $24.77 billion for the quarter, compared to analyst estimates of $23.74 billion. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.96 EPS. As a group, analysts forecast that Citigroup Inc. will post 11.21 EPS for the current year.

Citigroup announced that its Board of Directors has authorized a share buyback plan on Thursday, May 7th that permits the company to repurchase $30.00 billion in shares. This repurchase authorization permits the company to purchase up to 13.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 3rd were given a $0.67 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This is a positive change from Citigroup’s previous quarterly dividend of $0.60. This represents a $2.68 dividend on an annualized basis and a yield of 2.0%. Citigroup’s dividend payout ratio is presently 28.94%.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup’s recent quarterly results provide a fundamental cushion: earnings and revenue exceeded analyst expectations, with revenue up 14.5% year over year. SEC Probe Puts Wall Street Leverage Risk Back in Focus
• Neutral Sentiment: Citi analyst activity on Oracle, BMW and Forvia reflects the bank’s research and advisory business, but the recommendations are directed at those companies and have little direct impact on Citigroup’s equity value. Oracle Stock Gains Premarket
• Neutral Sentiment: Citigroup entities reported exiting substantial-holder status in Australia’s IDP Education and Healius. These appear to be portfolio or position disclosures rather than changes to Citi’s core business, making the immediate stock impact limited. Citi Group Entities Exit Substantial Holder Status in IDP Education
• Negative Sentiment: The SEC reportedly subpoenaed Citigroup, Goldman Sachs, JPMorgan and Bank of America over margin lending to hedge fund Situational Awareness, which suffered a 67% drawdown during an AI-stock sell-off. The probe puts leverage, collateral and counterparty-risk controls under scrutiny; potential fines, litigation costs or tighter lending requirements could weigh on Citi’s profitability, although the ultimate exposure remains unclear. SEC Probe Puts Wall Street Leverage Risk Back in Focus

Wall Street Analysts Forecast Growth

C has been the subject of a number of recent analyst reports. Bank of America raised their price target on shares of Citigroup from $170.00 to $176.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Wells Fargo & Company increased their price objective on Citigroup from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, June 18th. Truist Financial cut their target price on Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Royal Bank Of Canada restated an “outperform” rating and issued a $150.00 target price on shares of Citigroup in a research report on Wednesday, July 15th. Finally, Morgan Stanley upped their price target on Citigroup from $154.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.22.

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.