Wedge Capital Management L L P NC Has $33.09 Million Stock Holdings in Citigroup Inc. (NYSE:C)

Wedge Capital Management L L P NC trimmed its stake in Citigroup Inc. (NYSE:C) by 16.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 466,121 shares of the company’s stock after selling 91,892 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Citigroup were worth $33,090,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in C. Park Avenue Securities LLC grew its position in shares of Citigroup by 13.5% in the 1st quarter. Park Avenue Securities LLC now owns 74,803 shares of the company’s stock valued at $5,310,000 after acquiring an additional 8,920 shares during the period. Griffith & Werner Inc. lifted its stake in Citigroup by 5.7% in the 1st quarter. Griffith & Werner Inc. now owns 76,785 shares of the company’s stock valued at $5,451,000 after purchasing an additional 4,131 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in Citigroup by 13.1% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 8,204 shares of the company’s stock worth $582,000 after purchasing an additional 950 shares during the period. Wedmont Private Capital increased its position in Citigroup by 35.6% during the first quarter. Wedmont Private Capital now owns 23,577 shares of the company’s stock worth $1,674,000 after buying an additional 6,188 shares during the last quarter. Finally, Sivia Capital Partners LLC raised its stake in Citigroup by 151.7% in the first quarter. Sivia Capital Partners LLC now owns 8,136 shares of the company’s stock valued at $578,000 after buying an additional 4,904 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Insider Activity at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the company’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the sale, the director now directly owns 13,048 shares in the company, valued at $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is owned by insiders.

Citigroup Stock Performance

Shares of NYSE:C opened at $78.32 on Friday. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The company’s 50 day moving average price is $69.43 and its two-hundred day moving average price is $72.75. The firm has a market cap of $146.28 billion, a PE ratio of 13.16, a PEG ratio of 0.64 and a beta of 1.33. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. The business had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Equities research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup’s payout ratio is currently 35.39%.

Analyst Upgrades and Downgrades

C has been the subject of several research analyst reports. Truist Financial reduced their target price on Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Piper Sandler reaffirmed an “overweight” rating and set a $77.00 price target (down previously from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. JPMorgan Chase & Co. decreased their price objective on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Royal Bank of Canada dropped their price objective on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $92.00 target price (down previously from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.97.

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.