Westbourne Investment Advisors Inc. Reduces Stock Position in Citigroup Inc. (NYSE:C)

Westbourne Investment Advisors Inc. cut its stake in shares of Citigroup Inc. (NYSE:C) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 78,213 shares of the company’s stock after selling 2,066 shares during the period. Citigroup comprises approximately 1.6% of Westbourne Investment Advisors Inc.’s holdings, making the stock its 26th largest position. Westbourne Investment Advisors Inc.’s holdings in Citigroup were worth $4,023,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of C. Carmel Capital Partners LLC purchased a new stake in Citigroup during the third quarter valued at $25,000. GHP Investment Advisors Inc. grew its stake in shares of Citigroup by 73.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 683 shares of the company’s stock valued at $28,000 after purchasing an additional 290 shares during the period. SkyView Investment Advisors LLC purchased a new stake in shares of Citigroup during the 1st quarter valued at about $28,000. AlphaMark Advisors LLC lifted its stake in shares of Citigroup by 75.0% in the 3rd quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock worth $29,000 after purchasing an additional 300 shares during the period. Finally, Union Savings Bank bought a new position in shares of Citigroup in the 2nd quarter worth approximately $30,000. 71.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on C. Societe Generale cut shares of Citigroup from a “hold” rating to a “sell” rating in a report on Monday, January 8th. Morgan Stanley raised Citigroup from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $46.00 to $65.00 in a report on Tuesday, January 30th. TheStreet raised Citigroup from a “c+” rating to a “b-” rating in a report on Wednesday, December 13th. BMO Capital Markets downgraded Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 price objective on the stock. in a research note on Wednesday, January 10th. Finally, StockNews.com raised Citigroup from a “sell” rating to a “hold” rating in a research report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.56.

Citigroup Price Performance

C stock traded up $0.35 during mid-day trading on Thursday, hitting $63.10. The company had a trading volume of 6,865,096 shares, compared to its average volume of 17,227,359. The company has a 50-day moving average price of $56.06 and a 200 day moving average price of $48.95. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $63.29. The company has a market capitalization of $120.85 billion, a price-to-earnings ratio of 15.73, a P/E/G ratio of 1.72 and a beta of 1.50. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.52.

Citigroup (NYSE:C) last issued its earnings results on Friday, January 12th. The company reported ($1.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($1.89). Citigroup had a return on equity of 6.49% and a net margin of 5.88%. The firm had revenue of $17.44 billion during the quarter, compared to the consensus estimate of $18.71 billion. During the same period last year, the firm posted $1.10 earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, research analysts anticipate that Citigroup Inc. will post 5.83 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Monday, February 5th were given a dividend of $0.53 per share. The ex-dividend date was Friday, February 2nd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.36%. Citigroup’s dividend payout ratio is currently 53.13%.

About Citigroup

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.