Wright Investors Service Inc. Sells 21,654 Shares of Citigroup Inc. (NYSE:C)

Wright Investors Service Inc. lessened its holdings in shares of Citigroup Inc. (NYSE:C) by 47.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,757 shares of the company’s stock after selling 21,654 shares during the quarter. Wright Investors Service Inc.’s holdings in Citigroup were worth $1,672,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in C. Franklin Resources Inc. lifted its holdings in shares of Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after purchasing an additional 4,680,713 shares during the last quarter. Caxton Associates LP raised its stake in Citigroup by 96.1% during the second quarter. Caxton Associates LP now owns 3,952,428 shares of the company’s stock valued at $250,821,000 after buying an additional 1,937,038 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Citigroup by 70.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock worth $283,692,000 after acquiring an additional 1,865,628 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Citigroup by 32.2% in the fourth quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock worth $501,994,000 after acquiring an additional 1,731,527 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Citigroup by 9.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock valued at $981,347,000 after acquiring an additional 1,404,120 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

NYSE C opened at $72.94 on Tuesday. The company has a 50-day moving average price of $70.40 and a 200-day moving average price of $65.15. Citigroup Inc. has a 52 week low of $50.51 and a 52 week high of $74.29. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $137.95 billion, a P/E ratio of 21.14, a PEG ratio of 0.80 and a beta of 1.43.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. The business had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The firm’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company earned $1.52 earnings per share. Equities research analysts anticipate that Citigroup Inc. will post 5.86 earnings per share for the current year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a $0.56 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a yield of 3.07%. Citigroup’s dividend payout ratio is currently 64.93%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Piper Sandler upped their price target on shares of Citigroup from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Bank of America increased their price target on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Wells Fargo & Company boosted their price objective on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Truist Financial started coverage on Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 target price on the stock. Finally, Keefe, Bruyette & Woods boosted their price target on Citigroup from $82.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $80.13.

Citigroup Company 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.