Ridgewood Investments LLC Sells 2,157 Shares of Citigroup Inc. (NYSE:C)

Ridgewood Investments LLC cut its stake in shares of Citigroup Inc. (NYSE:C) by 29.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,247 shares of the company’s stock after selling 2,157 shares during the quarter. Ridgewood Investments LLC’s holdings in Citigroup were worth $369,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new position in shares of Citigroup during the third quarter valued at about $31,000. Northwest Investment Counselors LLC bought a new stake in Citigroup in the third quarter worth about $28,000. Strategic Investment Solutions Inc. IL bought a new stake in Citigroup in the second quarter worth about $31,000. GHP Investment Advisors Inc. raised 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 acquiring an additional 368 shares during the period. Finally, Hazlett Burt & Watson Inc. raised its position in Citigroup by 69.3% in the third quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock worth $39,000 after acquiring an additional 260 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Down 2.7 %

Shares of NYSE:C traded down $1.95 during midday trading on Friday, reaching $71.31. The company’s stock had a trading volume of 4,995,781 shares, compared to its average volume of 12,833,441. The firm has a 50 day moving average of $70.03 and a 200-day moving average of $64.95. The firm has a market capitalization of $134.87 billion, a P/E ratio of 20.67, a PEG ratio of 0.80 and a beta of 1.43. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a 12-month low of $50.51 and a 12-month high of $74.29.

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

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date was Monday, November 4th. Citigroup’s payout ratio is presently 64.93%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on C. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $70.00 to $95.00 in a research report on Monday. Keefe, Bruyette & Woods boosted their price target on shares of Citigroup from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Oppenheimer lowered their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Piper Sandler boosted their price target on shares of Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company boosted their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.13.

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.