MFG Wealth Management Inc. Has $2.85 Million Stake in Citigroup Inc. (NYSE:C)

MFG Wealth Management Inc. trimmed its holdings in Citigroup Inc. (NYSE:C - Free Report) by 15.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,190 shares of the company's stock after selling 7,142 shares during the quarter. Citigroup accounts for about 2.7% of MFG Wealth Management Inc.'s portfolio, making the stock its 6th biggest holding. MFG Wealth Management Inc.'s holdings in Citigroup were worth $2,853,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Brighton Jones LLC grew its position in Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after buying an additional 12,499 shares during the last quarter. BankPlus Trust Department bought a new stake in shares of Citigroup during the 4th quarter worth $63,000. FourThought Financial Partners LLC acquired a new position in shares of Citigroup in the 4th quarter worth $437,000. Illinois Municipal Retirement Fund grew its holdings in shares of Citigroup by 20.9% in the 4th quarter. Illinois Municipal Retirement Fund now owns 184,527 shares of the company's stock worth $12,989,000 after acquiring an additional 31,883 shares during the last quarter. Finally, Lake Street Advisors Group LLC raised its position in shares of Citigroup by 4.1% during the fourth quarter. Lake Street Advisors Group LLC now owns 15,059 shares of the company's stock worth $1,060,000 after purchasing an additional 598 shares during the period. Institutional investors own 71.72% of the company's stock.

Analyst Upgrades and Downgrades

C has been the subject of a number of recent analyst reports. Bank of America increased their price target on Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday. Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a research note on Sunday, June 1st. Piper Sandler reiterated an "overweight" rating and issued a $77.00 target price (down from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. Keefe, Bruyette & Woods restated an "outperform" rating and set a $92.00 price target (down previously from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Citigroup in a research note on Tuesday, May 20th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $84.03.

Insider Buying and Selling at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the transaction, the director now directly owns 13,048 shares of the company's stock, valued at $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.08% of the company's stock.

Citigroup Stock Up 2.2%

Shares of NYSE:C traded up $1.83 during trading on Thursday, reaching $84.46. 18,553,929 shares of the company traded hands, compared to its average volume of 14,542,741. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.78. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.52. The firm has a market cap of $157.75 billion, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 0.63 and a beta of 1.33. The firm has a fifty day simple moving average of $73.68 and a 200 day simple moving average of $73.45.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $21.60 billion during the quarter, compared to analysts' expectations of $21.34 billion. Analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup's payout ratio is presently 35.39%.

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.