Mackenzie Financial Corp Grows Position in Citigroup Inc. (NYSE:C)

Mackenzie Financial Corp lifted its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 30.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,876,682 shares of the company's stock after acquiring an additional 434,280 shares during the quarter. Mackenzie Financial Corp owned approximately 0.10% of Citigroup worth $132,100,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Daymark Wealth Partners LLC bought a new position in Citigroup during the 4th quarter worth $206,000. SG Americas Securities LLC raised its position in Citigroup by 103.6% during the 4th quarter. SG Americas Securities LLC now owns 48,500 shares of the company's stock worth $3,414,000 after purchasing an additional 1,410,950 shares during the last quarter. Mutual Advisors LLC raised its position in Citigroup by 8.8% during the 4th quarter. Mutual Advisors LLC now owns 17,581 shares of the company's stock worth $1,238,000 after purchasing an additional 1,418 shares during the last quarter. Secure Asset Management LLC bought a new position in Citigroup during the 4th quarter worth $238,000. Finally, Brighton Jones LLC raised its position in Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after purchasing an additional 12,499 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.

Analyst Ratings Changes

C has been the subject of several analyst reports. Wall Street Zen lowered Citigroup from a "hold" rating to a "sell" rating in a research report on Saturday. JPMorgan Chase & Co. lowered their price objective on Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. TD Cowen initiated coverage on Citigroup in a research report on Thursday, May 15th. They issued a "hold" rating and a $83.00 price objective for the company. Royal Bank of Canada lowered their price objective on Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $92.00 price objective (down from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Citigroup currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.97.

Insider Transactions at Citigroup

In related news, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the sale, the director now directly owns 13,048 shares of the company's stock, valued at approximately $890,656.48. This represents a 25.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.08% of the stock is owned by insiders.

Citigroup Stock Up 3.2%

Shares of NYSE:C traded up $2.33 during trading on Tuesday, reaching $75.42. 12,142,676 shares of the stock were exchanged, compared to its average volume of 14,544,589. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74. The stock has a fifty day moving average of $68.78 and a two-hundred day moving average of $72.34. The firm has a market cap of $140.86 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30.

Citigroup (NYSE:C - Get Free Report) last issued 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 6.62% and a net margin of 7.43%. The company had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date was Monday, May 5th. Citigroup's payout ratio is 35.39%.

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.