Westbourne Investment Advisors Inc. Reduces Position in Citigroup Inc. $C

Westbourne Investment Advisors Inc. decreased its holdings in Citigroup Inc. (NYSE:C) by 6.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 75,034 shares of the company’s stock after selling 5,296 shares during the quarter. Citigroup comprises approximately 2.1% of Westbourne Investment Advisors Inc.’s investment portfolio, making the stock its 15th largest holding. Westbourne Investment Advisors Inc.’s holdings in Citigroup were worth $7,616,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the business. Howard Hughes Medical Institute acquired a new stake in shares of Citigroup during the second quarter worth approximately $34,000. DHJJ Financial Advisors Ltd. raised its holdings in Citigroup by 157.1% in the second quarter. DHJJ Financial Advisors Ltd. now owns 414 shares of the company’s stock valued at $35,000 after acquiring an additional 253 shares in the last quarter. WPG Advisers LLC bought a new position in Citigroup during the 1st quarter valued at $38,000. Legacy Investment Solutions LLC acquired a new stake in shares of Citigroup in the 2nd quarter valued at about $38,000. Finally, Capital A Wealth Management LLC bought a new position in shares of Citigroup during the second quarter worth about $38,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on C. Piper Sandler set a $118.00 price objective on Citigroup in a report on Wednesday, December 10th. Barclays raised their price objective on Citigroup from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Cowen reaffirmed a “hold” rating on shares of Citigroup in a research report on Wednesday, December 10th. JPMorgan Chase & Co. raised shares of Citigroup from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $107.00 to $124.00 in a report on Friday, December 12th. Finally, Truist Financial lifted their target price on Citigroup from $112.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. Thirteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and a consensus target price of $114.50.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: J.P. Morgan reiterates a Buy on C, arguing that accepting a non-cash Russia exit loss yields a cleaner risk profile and a modest capital uplift — a constructive take that helps offset near-term headline risk. Citigroup: Accepting a Non-Cash Russia Exit Loss for a Cleaner Risk Profile and Modest Capital Uplift Supports Buy Rating
• Neutral Sentiment: Coverage notes that while the Russia sale will cost the bank ~$1.1B, investors may focus on the strategic benefit of completing the exit and potential longer-term upside from simplified operations. Citigroup’s Russia Exit Costs $1.1B, but Investors May Be Watching the Bigger Win
• Neutral Sentiment: Small institutional buying seen in a recent SEC filing — Apella Capital added ~4,378 shares — a modest sign of pickup from some funds but not material to the stock’s short-term direction. 4,378 Shares in Citigroup Inc. $C Acquired by Apella Capital LLC
• Negative Sentiment: Citigroup’s board approved the sale of AO Citibank in Russia to Renaissance Capital, signaling the end of its on-the-ground presence there; the transaction will produce a Q4 pre-tax loss of about $1.2B, pressuring quarterly results and near-term EPS. Citigroup board approves sale of Russia unit AO Citibank, flags $1.2 billion loss
• Negative Sentiment: Multiple outlets report the hit as roughly $1.1–$1.2B, a material one-off that will weigh on Q4 results and reported capital metrics this quarter, prompting some short-term underperformance versus peers. Citi To Sell AO Citibank, Take $1.2 Billion Loss In Russia Exit

Citigroup Trading Down 2.0%

Citigroup stock opened at $118.05 on Tuesday. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $122.84. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $211.22 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 0.60 and a beta of 1.21. The firm has a 50-day moving average price of $105.45 and a two-hundred day moving average price of $97.59.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, October 14th. The company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.35. The company had revenue of $22.09 billion during the quarter, compared to analysts’ expectations of $20.92 billion. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.51 earnings per share. Sell-side analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 3rd were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Monday, November 3rd. Citigroup’s dividend payout ratio is presently 33.71%.

Citigroup Company Profile

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.