Manning & Napier Advisors LLC Decreases Stock Position in Citigroup Inc. (NYSE:C)

Manning & Napier Advisors LLC cut its stake in shares of Citigroup Inc. (NYSE:C) by 11.5% in the 4th quarter, HoldingsChannel reports. The fund owned 474,285 shares of the company’s stock after selling 61,475 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Citigroup were worth $33,385,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB increased its position in Citigroup by 1.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock valued at $592,000 after acquiring an additional 140 shares during the last quarter. Lifestyle Asset Management Inc. boosted its stake in shares of Citigroup by 4.5% during the 3rd quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock worth $233,000 after acquiring an additional 160 shares during the last quarter. Grove Bank & Trust boosted its stake in shares of Citigroup by 7.1% during the 3rd quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock worth $161,000 after acquiring an additional 170 shares during the last quarter. MWA Asset Management boosted its stake in shares of Citigroup by 1.4% during the 3rd quarter. MWA Asset Management now owns 12,585 shares of the company’s stock worth $788,000 after acquiring an additional 173 shares during the last quarter. Finally, Bridge Creek Capital Management LLC boosted its stake in shares of Citigroup by 0.3% during the 3rd quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock worth $4,209,000 after acquiring an additional 175 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. The Goldman Sachs Group upped their price target on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Oppenheimer reduced their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Morgan Stanley lifted their target price on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Wells Fargo & Company increased their price target on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Keefe, Bruyette & Woods upped their price objective on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Trading Up 1.8 %

Shares of C traded up $1.43 during mid-day trading on Wednesday, reaching $81.37. 2,255,527 shares of the company’s stock traded hands, compared to its average volume of 17,047,307. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The stock’s 50-day moving average is $72.93 and its two-hundred day moving average is $66.32. Citigroup Inc. has a 12 month low of $52.24 and a 12 month high of $82.77. The stock has a market cap of $153.89 billion, a P/E ratio of 13.67, a P/E/G ratio of 0.65 and a beta of 1.43.

Citigroup (NYSE:C) last announced its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same quarter in the previous year, the business earned $0.84 earnings per share. Citigroup’s quarterly revenue was up 12.3% on a year-over-year basis. Research analysts forecast that Citigroup Inc. will post 7.51 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Monday, February 3rd will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is 37.65%.

Citigroup declared that its Board of Directors has approved a share repurchase program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to reacquire up to 13.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

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.