Mutual of America Capital Management LLC Reduces Stock Holdings in Citigroup Inc. (NYSE:C)

Mutual of America Capital Management LLC lessened its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 1.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 241,238 shares of the company's stock after selling 3,314 shares during the period. Mutual of America Capital Management LLC's holdings in Citigroup were worth $17,125,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of C. True Wealth Design LLC increased its holdings in shares of Citigroup by 11.1% in the 4th quarter. True Wealth Design LLC now owns 1,195 shares of the company's stock valued at $84,000 after acquiring an additional 119 shares during the last quarter. Continuum Advisory LLC boosted its holdings in Citigroup by 1.9% in the fourth quarter. Continuum Advisory LLC now owns 6,519 shares of the company's stock worth $459,000 after purchasing an additional 120 shares during the period. Insight Inv LLC increased its stake in Citigroup by 0.5% during the first quarter. Insight Inv LLC now owns 27,268 shares of the company's stock valued at $1,936,000 after purchasing an additional 146 shares during the last quarter. Trust Co. of Vermont raised its holdings in shares of Citigroup by 14.3% during the first quarter. Trust Co. of Vermont now owns 1,196 shares of the company's stock worth $85,000 after purchasing an additional 150 shares during the period. Finally, Cadence Bank lifted its position in shares of Citigroup by 3.8% in the 4th quarter. Cadence Bank now owns 4,162 shares of the company's stock worth $293,000 after buying an additional 151 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on C. The Goldman Sachs Group increased their target price on shares of Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Wall Street Zen upgraded shares of Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. TD Cowen boosted their target price on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a report on Wednesday, July 16th. Morgan Stanley upped their target price on Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, Piper Sandler lifted their price target on Citigroup from $84.00 to $104.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $96.54.

Citigroup Trading Down 1.0%

Shares of C traded down $0.92 during trading hours on Thursday, hitting $91.31. 12,938,981 shares of the stock were exchanged, compared to its average volume of 16,932,436. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $96.90. The business has a 50-day moving average of $85.72 and a 200-day moving average of $77.33. The firm has a market capitalization of $170.54 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 0.79 and a beta of 1.38. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. The firm had revenue of $21.67 billion for the quarter, compared to analyst estimates of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The business's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm earned $1.52 earnings per share. On average, research analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Monday, August 4th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 4th. This is a positive change from Citigroup's previous quarterly dividend of $0.56. Citigroup's payout ratio is presently 35.45%.

Insider Transactions at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the sale, the director owned 2,140 shares in the company, valued at approximately $193,456. This trade represents a 58.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.08% of the stock is 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.