M&R Capital Management Inc. Decreases Stock Holdings in Citigroup Inc. (NYSE:C)

M&R Capital Management Inc. trimmed its position in Citigroup Inc. (NYSE:C – Get Rating) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,075 shares of the company’s stock after selling 1,790 shares during the quarter. Citigroup accounts for approximately 1.1% of M&R Capital Management Inc.’s holdings, making the stock its 25th biggest holding. M&R Capital Management Inc.’s holdings in Citigroup were worth $3,893,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Panagora Asset Management Inc. boosted its holdings in Citigroup by 24.5% in the first quarter. Panagora Asset Management Inc. now owns 29,752 shares of the company’s stock valued at $1,589,000 after acquiring an additional 5,853 shares in the last quarter. Zions Bancorporation N.A. boosted its holdings in Citigroup by 50.5% in the first quarter. Zions Bancorporation N.A. now owns 6,256 shares of the company’s stock valued at $334,000 after acquiring an additional 2,100 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in Citigroup by 20.8% in the first quarter. Brown Brothers Harriman & Co. now owns 5,274 shares of the company’s stock valued at $282,000 after acquiring an additional 907 shares in the last quarter. Ergoteles LLC bought a new stake in Citigroup in the first quarter valued at $761,000. Finally, Halbert Hargrove Global Advisors LLC boosted its holdings in Citigroup by 7.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 4,077 shares of the company’s stock valued at $218,000 after acquiring an additional 268 shares in the last quarter. 70.90% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Citigroup news, insider Sara Wechter sold 2,950 shares of the business’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $50.77, for a total value of $149,771.50. Following the completion of the transaction, the insider now owns 82,779 shares of the company’s stock, valued at approximately $4,202,689.83. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Sara Wechter sold 2,950 shares of the company’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $50.77, for a total transaction of $149,771.50. Following the completion of the sale, the insider now owns 82,779 shares of the company’s stock, valued at approximately $4,202,689.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Whitaker sold 12,500 shares of the company’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $51.63, for a total transaction of $645,375.00. Following the sale, the insider now directly owns 239,429 shares of the company’s stock, valued at approximately $12,361,719.27. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,353 shares of company stock valued at $1,403,390. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on C shares. StockNews.com started coverage on shares of Citigroup in a report on Thursday. They issued a “hold” rating on the stock. Piper Sandler boosted their target price on shares of Citigroup from $47.00 to $51.00 in a report on Tuesday, January 17th. Oppenheimer boosted their target price on shares of Citigroup from $83.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, February 2nd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Citigroup from $52.00 to $46.00 in a report on Friday, January 6th. Finally, Morgan Stanley dropped their target price on shares of Citigroup from $45.00 to $41.00 and set an “underweight” rating on the stock in a report on Friday, January 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $56.47.

Citigroup Stock Down 3.0 %

Citigroup stock traded down $1.37 during mid-day trading on Friday, reaching $44.25. The stock had a trading volume of 37,130,222 shares, compared to its average volume of 20,003,648. The company has a market capitalization of $86.01 billion, a price-to-earnings ratio of 6.32, a PEG ratio of 1.59 and a beta of 1.59. The company has a 50-day moving average price of $50.17 and a two-hundred day moving average price of $47.41. Citigroup Inc. has a one year low of $40.01 and a one year high of $58.25. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.94 and a quick ratio of 0.94.

Citigroup (NYSE:C – Get Rating) last issued its earnings results on Friday, January 13th. The company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.08). Citigroup had a return on equity of 8.14% and a net margin of 14.73%. The business had revenue of $18.01 billion during the quarter, compared to analysts’ expectations of $17.91 billion. On average, analysts expect that Citigroup Inc. will post 5.94 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 24th. Shareholders of record on Monday, February 6th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date was Friday, February 3rd. Citigroup’s dividend payout ratio (DPR) is 29.14%.

Citigroup Company Profile

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Citigroup, Inc is a holding company, which engages in the provision of financial products and services. It operates through the following segments: Global Consumer Banking, Institutional Clients Group, and Corporate and Other. The Global Consumer Banking segment provides traditional banking services to retail customers through retail banking, including commercial banking, and Citi-branded cards and Citi retail services.