Palouse Capital Management Inc. Sells 2,432 Shares of Citigroup Inc. (NYSE:C)

Palouse Capital Management Inc. trimmed its holdings in shares of Citigroup Inc. (NYSE:C) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,297 shares of the company’s stock after selling 2,432 shares during the quarter. Citigroup accounts for approximately 2.4% of Palouse Capital Management Inc.’s investment portfolio, making the stock its 13th largest holding. Palouse Capital Management Inc.’s holdings in Citigroup were worth $3,359,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wetzel Investment Advisors Inc. purchased a new position in shares of Citigroup during the fourth quarter valued at $948,000. Greenleaf Trust increased its stake in shares of Citigroup by 8.2% during the fourth quarter. Greenleaf Trust now owns 19,315 shares of the company’s stock valued at $994,000 after buying an additional 1,464 shares during the period. Naples Money Management LLC purchased a new position in shares of Citigroup during the fourth quarter valued at $2,101,000. Western Wealth Management LLC increased its stake in shares of Citigroup by 8.7% during the fourth quarter. Western Wealth Management LLC now owns 9,298 shares of the company’s stock valued at $478,000 after buying an additional 744 shares during the period. Finally, Xponance Inc. increased its stake in shares of Citigroup by 3.4% during the fourth quarter. Xponance Inc. now owns 248,740 shares of the company’s stock valued at $12,795,000 after buying an additional 8,190 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Jefferies Financial Group lifted their target price on Citigroup from $56.00 to $65.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Societe Generale lowered Citigroup from a “hold” rating to a “sell” rating in a research note on Monday, January 8th. Keefe, Bruyette & Woods boosted their price target on Citigroup from $54.00 to $66.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Oppenheimer dropped their price target on Citigroup from $88.00 to $87.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, StockNews.com raised Citigroup from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and an average price target of $62.91.

Citigroup Price Performance

Shares of C traded up $0.83 during trading hours on Friday, hitting $59.15. 13,367,494 shares of the stock were exchanged, compared to its average volume of 17,210,979. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $63.90. The company has a market cap of $113.29 billion, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 0.88 and a beta of 1.52. The stock’s 50-day moving average price is $58.30 and its two-hundred day moving average price is $51.16.

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

Citigroup Announces Dividend

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

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.