Citigroup Inc. (NYSE:C) Shares Sold by MFG Wealth Management Inc.

MFG Wealth Management Inc. reduced its holdings in Citigroup Inc. (NYSE:C) by 15.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,190 shares of the company’s stock after selling 7,142 shares during the period. Citigroup makes up about 2.7% of MFG Wealth Management Inc.’s investment portfolio, making the stock its 6th biggest position. MFG Wealth Management Inc.’s holdings in Citigroup were worth $2,853,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Citigroup in the 4th quarter valued at approximately $1,935,599,000. Capital World Investors boosted its holdings in shares of Citigroup by 455.2% in the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock valued at $2,206,908,000 after buying an additional 25,705,141 shares during the period. FMR LLC increased its position in shares of Citigroup by 29.7% during the fourth quarter. FMR LLC now owns 34,362,176 shares of the company’s stock worth $2,418,754,000 after acquiring an additional 7,863,718 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Citigroup during the fourth quarter worth $198,231,000. Finally, Franklin Resources Inc. lifted its position in Citigroup by 9.3% in the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company’s stock valued at $2,311,048,000 after acquiring an additional 2,804,850 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Citigroup Trading Up 1.8%

Shares of NYSE:C opened at $82.64 on Thursday. The company has a 50-day simple moving average of $73.68 and a 200 day simple moving average of $73.45. The company has a market capitalization of $154.35 billion, a P/E ratio of 13.06, a price-to-earnings-growth ratio of 0.63 and a beta of 1.33. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.98 and a current ratio of 0.98. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.74.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.12. Citigroup had a return on equity of 6.94% and a net margin of 7.95%. The business had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Sell-side analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a $0.56 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 2.71%. Citigroup’s dividend payout ratio is currently 35.39%.

Insiders Place Their Bets

In other news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the sale, the director now owns 13,048 shares of the company’s stock, valued at approximately $890,656.48. This trade represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley lifted their price target on Citigroup from $90.00 to $94.00 and gave the company an “overweight” rating in a research note on Monday. Oppenheimer reissued an “outperform” rating on shares of Citigroup in a research report on Tuesday, May 20th. Bank of America reduced their price target on Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. TD Cowen assumed coverage on shares of Citigroup in a report on Thursday, May 15th. They issued a “hold” rating and a $83.00 price objective on the stock. Finally, Royal Bank Of Canada cut their price objective on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.30.

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.