Citigroup Inc. (NYSE:C) Holdings Lifted by Massachusetts Wealth Management

Massachusetts Wealth Management raised its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 14.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,927 shares of the company's stock after acquiring an additional 6,420 shares during the period. Citigroup comprises approximately 2.4% of Massachusetts Wealth Management's investment portfolio, making the stock its 8th largest holding. Massachusetts Wealth Management's holdings in Citigroup were worth $3,544,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Citigroup during the 4th quarter worth approximately $1,935,599,000. Capital World Investors grew its holdings in Citigroup by 455.2% during the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company's stock valued at $2,206,908,000 after purchasing an additional 25,705,141 shares during the period. FMR LLC increased its position in Citigroup by 29.7% in the fourth quarter. FMR LLC now owns 34,362,176 shares of the company's stock worth $2,418,754,000 after buying an additional 7,863,718 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Citigroup in the fourth quarter valued at $198,231,000. Finally, Franklin Resources Inc. lifted its position in shares of Citigroup by 9.3% during the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock valued at $2,311,048,000 after buying an additional 2,804,850 shares during the last quarter. Institutional investors own 71.72% of the company's stock.

Citigroup Price Performance

Shares of NYSE C traded up $1.86 during mid-day trading on Monday, reaching $78.22. 3,380,453 shares of the company were exchanged, compared to its average volume of 15,797,187. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74. The company's 50 day moving average price is $71.01 and its 200 day moving average price is $73.05. The stock has a market capitalization of $146.09 billion, a PE ratio of 13.14, a PEG ratio of 0.64 and a beta of 1.33. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $21.60 billion during the quarter, compared to analysts' expectations of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Sell-side analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Monday, May 5th. Citigroup's dividend payout ratio (DPR) is presently 35.39%.

Insider Transactions at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the business's stock in a transaction that occurred 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 owns 13,048 shares in the company, valued at approximately $890,656.48. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Wall Street Zen raised shares of Citigroup from a "sell" rating to a "hold" rating in a research report on Sunday, June 1st. Morgan Stanley lowered their target price on shares of Citigroup from $110.00 to $109.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Piper Sandler reaffirmed an "overweight" rating and issued a $77.00 price target (down from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. Finally, Evercore ISI reduced their price target on Citigroup from $79.00 to $76.00 and set an "in-line" rating for the company in a research report on Tuesday, April 1st. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, Citigroup has an average rating of "Moderate Buy" and a consensus target price of $84.30.

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.