Westside Investment Management Inc. Decreases Stake in Citigroup Inc. (NYSE:C)

Westside Investment Management Inc. lessened its position in shares of Citigroup Inc. (NYSE:C) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,346 shares of the company’s stock after selling 150 shares during the quarter. Westside Investment Management Inc.’s holdings in Citigroup were worth $728,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new position in Citigroup in the third quarter worth about $28,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Citigroup in the 2nd quarter worth approximately $31,000. Legacy Investment Solutions LLC bought a new position in shares of Citigroup during the 3rd quarter valued at approximately $31,000. GHP Investment Advisors Inc. lifted its position in Citigroup by 184.0% in the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after buying an additional 368 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its stake in Citigroup by 69.3% during the third quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock worth $39,000 after buying an additional 260 shares during the period. Institutional investors own 71.72% of the company’s stock.

Citigroup Trading Down 0.1 %

NYSE:C opened at $81.56 on Wednesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a 50-day simple moving average of $71.68 and a 200-day simple moving average of $65.77. Citigroup Inc. has a one year low of $52.24 and a one year high of $81.85. The firm has a market cap of $154.25 billion, a P/E ratio of 13.71, a P/E/G ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last posted its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The company had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Citigroup’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 earnings per share. Equities analysts anticipate that Citigroup Inc. will post 7.49 EPS for the current fiscal year.

Citigroup announced that its Board of Directors has authorized a stock buyback plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be issued a $0.56 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.75%. Citigroup’s dividend payout ratio is presently 37.65%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on C shares. Wells Fargo & Company raised their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Morgan Stanley boosted their target price on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Oppenheimer decreased their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Finally, Piper Sandler reissued an “overweight” rating and set a $83.00 target price (up from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $83.93.

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.