MGO One Seven LLC Sells 388 Shares of Citigroup Inc. $C

MGO One Seven LLC lessened its stake in Citigroup Inc. (NYSE:C) by 0.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,906 shares of the company’s stock after selling 388 shares during the quarter. MGO One Seven LLC’s holdings in Citigroup were worth $4,503,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in Citigroup by 13.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,294,955 shares of the company’s stock valued at $197,986,000 after acquiring an additional 279,779 shares during the last quarter. Almanack Investment Partners LLC. purchased a new position in shares of Citigroup during the second quarter valued at about $1,225,000. Valley Brook Capital Group Inc. bought a new stake in shares of Citigroup in the second quarter worth about $217,000. CWM LLC lifted its position in shares of Citigroup by 7.6% in the second quarter. CWM LLC now owns 141,158 shares of the company’s stock worth $12,015,000 after buying an additional 9,938 shares in the last quarter. Finally, OFI Invest Asset Management bought a new position in Citigroup during the second quarter valued at approximately $123,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Price Performance

Citigroup stock opened at $96.18 on Tuesday. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $105.59. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61. The firm has a 50-day moving average price of $97.09 and a 200-day moving average price of $84.05. The firm has a market capitalization of $177.05 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 0.83 and a beta of 1.37.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.35. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. During the same period in the prior year, the company posted $1.52 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities research analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 3rd will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. Citigroup’s dividend payout ratio is currently 35.45%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Bank of America lifted their price objective on Citigroup from $89.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, June 26th. Truist Financial boosted their price target on shares of Citigroup from $105.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Piper Sandler increased their price objective on shares of Citigroup from $84.00 to $104.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Wells Fargo & Company lifted their price objective on shares of Citigroup from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 16th. Finally, UBS Group restated a “neutral” rating and set a $89.00 target price on shares of Citigroup in a research report on Tuesday, July 15th. Eleven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.68.

Insider Transactions at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the company’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the transaction, the director owned 2,140 shares of the company’s stock, valued at $193,456. This represents a 58.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.08% of the stock is currently owned by insiders.

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.