Mutual of America Capital Management LLC Cuts Position in Citigroup Inc. $C

Key Points

• Mutual of America Capital Management LLC reduced its holdings in Citigroup Inc. by 2.0% during Q2, owning 236,340 shares worth approximately $20.12 million after selling 4,898 shares.
• Recent analyst reports have showed a shift in sentiment with 11 analysts rating Citigroup as a Buy, while seven rated it as Hold, and the stock has an average price target of $107.63.
• Citigroup announced a quarterly dividend of $0.60 per share, with a payment date set for November 26th, contributing to an annualized yield of 2.5%.

Mutual of America Capital Management LLC lowered its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 236,340 shares of the company's stock after selling 4,898 shares during the quarter. Mutual of America Capital Management LLC's holdings in Citigroup were worth $20,117,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Private Advisory Group LLC raised its position in Citigroup by 20.8% during the first quarter. Private Advisory Group LLC now owns 69,581 shares of the company's stock worth $4,940,000 after acquiring an additional 11,978 shares during the period. Brighton Jones LLC increased its stake in shares of Citigroup by 166.9% during the fourth 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 in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of Citigroup by 109.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company's stock worth $88,458,000 after purchasing an additional 649,807 shares in the last quarter. Onyx Bridge Wealth Group LLC acquired a new position in shares of Citigroup during the 1st quarter worth about $214,000. Finally, Hayek Kallen Investment Management lifted its stake in Citigroup by 125.0% in the 1st quarter. Hayek Kallen Investment Management now owns 15,534 shares of the company's stock valued at $1,103,000 after buying an additional 8,630 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on C. Wall Street Zen upgraded Citigroup from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Piper Sandler boosted their price target on Citigroup from $107.00 to $110.00 and gave the stock an "overweight" rating in a research report on Wednesday. Weiss Ratings reissued a "buy (b)" rating on shares of Citigroup in a research note on Wednesday, October 8th. Wells Fargo & Company lifted their target price on shares of Citigroup from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 16th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Citigroup from $112.00 to $118.00 and gave the stock an "outperform" rating in a report on Friday. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $107.63.

Citigroup Stock Up 0.9%

Shares of NYSE:C opened at $97.10 on Friday. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $105.59. The stock has a market cap of $178.75 billion, a P/E ratio of 13.64, a PEG ratio of 0.82 and a beta of 1.37. The business has a fifty day moving average of $97.59 and a two-hundred day moving average of $84.71. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.62.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Tuesday, October 14th. The company reported $1.86 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.03). Citigroup had a net margin of 8.73% and a return on equity of 7.91%. The firm had revenue of $22.09 billion for the quarter, compared to analyst estimates of $20.92 billion. During the same period in the previous year, the firm posted $1.51 EPS. The company's revenue was up 9.3% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. On average, research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 3rd will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, November 3rd. Citigroup's payout ratio is presently 33.71%.

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.

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