New England Asset Management Inc. Has $3.97 Million Stock Position in Citigroup Inc. (NYSE:C)

New England Asset Management Inc. trimmed its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 12.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,450 shares of the company's stock after selling 7,750 shares during the quarter. New England Asset Management Inc.'s holdings in Citigroup were worth $3,974,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Core Alternative Capital increased its position in shares of Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company's stock worth $26,000 after acquiring an additional 171 shares in the last quarter. Webster Bank N. A. increased its position in shares of Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company's stock worth $35,000 after acquiring an additional 300 shares in the last quarter. Creative Capital Management Investments LLC purchased a new position in Citigroup during the fourth quarter valued at approximately $35,000. Sierra Ocean LLC purchased a new position in Citigroup during the fourth quarter valued at approximately $37,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in Citigroup during the fourth quarter valued at approximately $39,000. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $77.00 price objective (down from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. JPMorgan Chase & Co. decreased their target price on shares of 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 began coverage on shares of Citigroup in a research report on Thursday. They issued a "hold" rating and a $83.00 target price for the company. Morgan Stanley decreased their target price on shares of Citigroup from $110.00 to $109.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Finally, Royal Bank of Canada decreased their target price on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $83.97.

Citigroup Stock Performance

Shares of Citigroup stock traded down $0.30 on Friday, reaching $75.66. The stock had a trading volume of 13,995,671 shares, compared to its average volume of 14,498,125. The stock has a market cap of $141.31 billion, a P/E ratio of 12.72, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The business's 50-day moving average price is $67.96 and its two-hundred day moving average price is $71.80. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C - Get Free Report) last released its earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate 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 net margin of 7.43% and a return on equity of 6.62%. On average, sell-side analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup's payout ratio is currently 35.39%.

Insider Activity at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the business's stock in a transaction 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 sale, the director now owns 13,048 shares of the company's stock, valued at $890,656.48. The trade was a 25.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.08% of the company's stock.

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.