State of Michigan Retirement System Reduces Holdings in Citigroup Inc. (NYSE:C)

State of Michigan Retirement System trimmed its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 0.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 568,336 shares of the company's stock after selling 4,100 shares during the period. State of Michigan Retirement System's holdings in Citigroup were worth $40,346,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of C. Orion Capital Management LLC acquired a new position in shares of Citigroup in the 4th quarter valued at $28,000. MorganRosel Wealth Management LLC acquired a new position in shares of Citigroup in the 1st quarter valued at $28,000. American National Bank & Trust acquired a new position in shares of Citigroup in the 1st quarter valued at $29,000. Mascagni Wealth Management Inc. acquired a new position in shares of Citigroup in the 4th quarter valued at $34,000. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of Citigroup by 68.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 577 shares of the company's stock valued at $38,000 after purchasing an additional 234 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Citigroup

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

Citigroup Price Performance

C opened at $87.07 on Friday. The company has a 50-day moving average of $78.07 and a 200-day moving average of $74.64. The company has a market capitalization of $162.63 billion, a P/E ratio of 13.76, a PEG ratio of 0.67 and a beta of 1.34. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $88.83. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.98 and a current ratio of 0.98.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.84 by $0.12. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. The business had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. Equities analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Cowen assumed coverage on shares of Citigroup in a report on Wednesday, May 14th. They issued a "hold" rating on the stock. Oppenheimer restated an "outperform" rating on shares of Citigroup in a report on Monday. Piper Sandler restated an "overweight" rating and set a $77.00 target price (down previously from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. Truist Financial lifted their target price on shares of Citigroup from $84.00 to $93.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Royal Bank Of Canada reduced their target price on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $86.37.

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.

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