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

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

Several other hedge funds have also made changes to their positions in C. Paladin Partners LLC acquired a new position in shares of Citigroup in the second quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. acquired a new stake in Citigroup during the 2nd quarter worth approximately $29,000. Mcguire Capital Advisors Inc. purchased a new position in Citigroup in the 4th quarter valued at approximately $25,000. Whipplewood Advisors LLC purchased a new position in Citigroup in the 1st quarter valued at approximately $25,000. Finally, TD Capital Management LLC acquired a new position in shares of Citigroup in the fourth quarter worth $28,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

C has been the topic of a number of recent research reports. Evercore set a $143.00 price objective on Citigroup in a research report on Monday, July 6th. UBS Group decreased their target price on Citigroup from $150.00 to $142.00 and set a “neutral” rating for the company in a report on Monday, August 3rd. Oppenheimer cut Citigroup from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Royal Bank Of Canada restated an “outperform” rating and set a $150.00 price target on shares of Citigroup in a report on Wednesday, July 15th. Finally, Bank of America increased their price target on Citigroup from $170.00 to $176.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $145.22.

Citigroup Trading Up 0.1%

Shares of NYSE:C opened at $132.77 on Friday. Citigroup Inc. has a 52 week low of $92.96 and a 52 week high of $147.96. The company’s 50 day moving average is $136.20 and its two-hundred day moving average is $126.81. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71. The company 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 (NYSE:C) last released its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.41. The business had revenue of $24.77 billion during the quarter, compared to analysts’ expectations of $23.74 billion. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.96 EPS. Equities analysts predict that Citigroup Inc. will post 11.21 earnings per share for the current fiscal year.

Citigroup declared that its board has initiated a stock buyback program on Thursday, May 7th that allows the company to buyback $30.00 billion in shares. This buyback authorization allows the company to purchase up to 13.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 3rd were paid a $0.67 dividend. This is a boost 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%. The ex-dividend date was Monday, August 3rd. Citigroup’s payout ratio is 28.94%.

Key Stories Impacting 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

About Citigroup

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.