Citigroup Inc. (NYSE:C) Shares Sold by Palouse Capital Management Inc.

Palouse Capital Management Inc. reduced its holdings in Citigroup Inc. (NYSE:C) by 3.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 65,297 shares of the company’s stock after selling 2,432 shares during the quarter. Citigroup accounts for about 2.4% of Palouse Capital Management Inc.’s investment portfolio, making the stock its 13th biggest holding. Palouse Capital Management Inc.’s holdings in Citigroup were worth $3,359,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Massachusetts Wealth Management raised its holdings in Citigroup by 0.5% during the fourth quarter. Massachusetts Wealth Management now owns 39,782 shares of the company’s stock worth $2,046,000 after purchasing an additional 192 shares during the last quarter. Founders Capital Management boosted its position in Citigroup by 12.5% during the fourth quarter. Founders Capital Management now owns 1,800 shares of the company’s stock worth $93,000 after purchasing an additional 200 shares in the last quarter. Cowa LLC boosted its position in Citigroup by 3.1% during the fourth quarter. Cowa LLC now owns 6,600 shares of the company’s stock worth $340,000 after purchasing an additional 200 shares in the last quarter. CENTRAL TRUST Co boosted its position in Citigroup by 5.6% during the fourth quarter. CENTRAL TRUST Co now owns 3,841 shares of the company’s stock worth $198,000 after purchasing an additional 205 shares in the last quarter. Finally, Sippican Capital Advisors boosted its position in Citigroup by 0.6% during the fourth quarter. Sippican Capital Advisors now owns 39,234 shares of the company’s stock worth $2,018,000 after purchasing an additional 219 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Trading Up 1.4 %

Citigroup stock traded up $0.83 during trading on Friday, hitting $59.15. The company’s stock had a trading volume of 13,367,494 shares, compared to its average volume of 17,210,979. The stock has a market capitalization of $113.29 billion, a price-to-earnings ratio of 17.50, a P/E/G ratio of 0.88 and a beta of 1.52. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s fifty day moving average is $58.30 and its 200 day moving average is $51.16. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $63.90.

Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.29 by $0.29. The company had revenue of $21.10 billion during the quarter, compared to analyst estimates of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.86 earnings per share. As a group, equities research analysts predict that Citigroup Inc. will post 5.91 EPS for the current year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $2.12 annualized dividend and a yield of 3.58%. Citigroup’s dividend payout ratio is presently 62.72%.

Wall Street Analyst Weigh In

A number of research firms have commented on C. Oppenheimer decreased their target price on Citigroup from $88.00 to $87.00 and set an “outperform” rating on the stock in a research report on Monday. Jefferies Financial Group boosted their target price on Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Piper Sandler boosted their target price on Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday. HSBC upped their price objective on Citigroup from $61.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Citigroup in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and an average price target of $62.91.

Citigroup 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.