M&R Capital Management Inc. Trims Position in Citigroup Inc. (NYSE:C)

M&R Capital Management Inc. trimmed its stake in shares of Citigroup Inc. (NYSE:C) by 0.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 83,133 shares of the company’s stock after selling 778 shares during the period. Citigroup accounts for 1.1% of M&R Capital Management Inc.’s portfolio, making the stock its 23rd largest holding. M&R Capital Management Inc.’s holdings in Citigroup were worth $5,204,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of C. Campbell & CO Investment Adviser LLC purchased a new position in Citigroup during the fourth quarter valued at $671,000. CIBC Private Wealth Group LLC grew its stake in shares of Citigroup by 2.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 21,870 shares of the company’s stock worth $1,125,000 after buying an additional 479 shares in the last quarter. Capital International Ltd. CA grew its stake in shares of Citigroup by 2.9% in the 4th quarter. Capital International Ltd. CA now owns 72,157 shares of the company’s stock worth $3,712,000 after buying an additional 2,005 shares in the last quarter. Capital International Sarl grew its stake in shares of Citigroup by 20.1% in the 4th quarter. Capital International Sarl now owns 80,381 shares of the company’s stock worth $4,135,000 after buying an additional 13,429 shares in the last quarter. Finally, Capital Research Global Investors grew its stake in shares of Citigroup by 17.9% in the 4th quarter. Capital Research Global Investors now owns 10,188,436 shares of the company’s stock worth $524,093,000 after buying an additional 1,547,312 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Up 0.4 %

Citigroup stock opened at $62.03 on Thursday. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $67.81. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $118.32 billion, a PE ratio of 17.38, a P/E/G ratio of 0.69 and a beta of 1.45. The stock’s fifty day moving average is $60.73 and its two-hundred day moving average is $61.74.

Citigroup (NYSE:C) last announced its earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business had revenue of $20.14 billion for the quarter, compared to analyst estimates of $20.07 billion. During the same period last year, the firm posted $1.37 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, sell-side analysts expect that Citigroup Inc. will post 5.79 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a dividend of $0.56 per share. This is an increase from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.61%. Citigroup’s dividend payout ratio is 62.75%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. The Goldman Sachs Group dropped their price objective on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Argus raised their target price on shares of Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Piper Sandler raised their target price on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Morgan Stanley lifted their price objective on shares of Citigroup from $79.00 to $86.00 and gave the company an “overweight” rating in a report on Monday. Finally, BMO Capital Markets lifted their price objective on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. One 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. According to data from MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and a consensus price target of $69.06.

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.