Mather Group LLC. Cuts Stock Position in Citigroup Inc. (NYSE:C)

Mather Group LLC. lessened its holdings in Citigroup Inc. (NYSE:C) by 26.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 4,110 shares of the company’s stock after selling 1,512 shares during the period. Mather Group LLC.’s holdings in Citigroup were worth $257,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of C. Fulton Bank N.A. grew its position in shares of Citigroup by 1.8% during the third quarter. Fulton Bank N.A. now owns 14,242 shares of the company’s stock valued at $892,000 after purchasing an additional 258 shares in the last quarter. Herbst Group LLC grew its position in shares of Citigroup by 16.4% during the third quarter. Herbst Group LLC now owns 18,856 shares of the company’s stock valued at $1,180,000 after purchasing an additional 2,655 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Citigroup by 15.3% during the third quarter. GAMMA Investing LLC now owns 27,073 shares of the company’s stock valued at $1,695,000 after purchasing an additional 3,601 shares in the last quarter. Handelsbanken Fonder AB grew its position in shares of Citigroup by 2.2% during the third quarter. Handelsbanken Fonder AB now owns 633,341 shares of the company’s stock valued at $39,647,000 after purchasing an additional 13,490 shares in the last quarter. Finally, Mirador Capital Partners LP grew its position in shares of Citigroup by 6.2% during the third quarter. Mirador Capital Partners LP now owns 25,799 shares of the company’s stock valued at $1,615,000 after purchasing an additional 1,513 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

Shares of C stock opened at $65.74 on Friday. The firm has a market cap of $125.42 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 0.74 and a beta of 1.44. The company’s 50 day moving average is $60.66 and its 200 day moving average is $61.89. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $67.81.

Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.13. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company had revenue of $20.14 billion for the quarter, compared to analyst estimates of $20.07 billion. During the same period last year, the company posted $1.37 earnings per share. Citigroup’s revenue was up 3.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Citigroup Inc. will post 5.76 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a $0.56 dividend. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Monday, August 5th. Citigroup’s payout ratio is currently 62.75%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on C shares. Keefe, Bruyette & Woods increased their price target on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. The Goldman Sachs Group lowered their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. BMO Capital Markets increased their price target 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. Argus increased their price target on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Piper Sandler increased their price target on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $70.33.

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.