M&T Bank Corp Sells 1,233 Shares of Citigroup Inc. (NYSE:C)

M&T Bank Corp reduced its holdings in Citigroup Inc. (NYSE:C) by 0.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 139,083 shares of the company’s stock after selling 1,233 shares during the quarter. M&T Bank Corp’s holdings in Citigroup were worth $9,874,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. 49 Wealth Management LLC bought a new stake in shares of Citigroup during the first quarter valued at approximately $439,000. Stratos Investment Management LLC boosted its position in Citigroup by 36.9% in the first quarter. Stratos Investment Management LLC now owns 136,059 shares of the company’s stock worth $9,659,000 after purchasing an additional 36,663 shares during the last quarter. Brown Advisory Inc. boosted its position in Citigroup by 8.3% in the first quarter. Brown Advisory Inc. now owns 424,940 shares of the company’s stock worth $30,166,000 after purchasing an additional 32,636 shares during the last quarter. ARGA Investment Management LP purchased a new position in Citigroup in the first quarter worth $833,000. Finally, Alpha Cubed Investments LLC lifted its position in shares of Citigroup by 246.5% during the 1st quarter. Alpha Cubed Investments LLC now owns 10,151 shares of the company’s stock valued at $721,000 after buying an additional 7,221 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director John Cunningham Dugan sold 4,417 shares of the firm’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the sale, the director owned 13,048 shares of the company’s stock, valued at $890,656.48. This trade represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.08% of the stock is owned by insiders.

Citigroup Stock Performance

C opened at $85.76 on Thursday. The stock has a market cap of $160.18 billion, a P/E ratio of 13.55, a P/E/G ratio of 0.66 and a beta of 1.34. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $88.83. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a fifty day moving average price of $77.69 and a 200 day moving average price of $74.52.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Morgan Stanley increased their target price on Citigroup from $94.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, July 3rd. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $92.00 price objective (down previously from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. Bank of America raised their target price on Citigroup from $89.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, June 26th. Finally, Cowen assumed coverage on Citigroup in a research report on Wednesday, May 14th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $86.37.

About Citigroup

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.