Magnus Financial Group LLC Lowers Stock Position in Citigroup Inc. (NYSE:C)

Magnus Financial Group LLC lessened its position in Citigroup Inc. (NYSE:C) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,703 shares of the company’s stock after selling 341 shares during the quarter. Magnus Financial Group LLC’s holdings in Citigroup were worth $242,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Atlantic Union Bankshares Corp raised its stake in Citigroup by 17.5% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 17,099 shares of the company’s stock valued at $703,000 after acquiring an additional 2,546 shares during the last quarter. Busey Trust CO boosted its position in Citigroup by 2.1% during the third quarter. Busey Trust CO now owns 179,873 shares of the company’s stock worth $7,398,000 after acquiring an additional 3,682 shares during the last quarter. Accurate Wealth Management LLC grew its position in shares of Citigroup by 8.9% in the third quarter. Accurate Wealth Management LLC now owns 6,105 shares of the company’s stock valued at $252,000 after purchasing an additional 499 shares during the period. Palouse Capital Management Inc. grew its holdings in Citigroup by 11.0% in the 3rd quarter. Palouse Capital Management Inc. now owns 67,729 shares of the company’s stock valued at $2,786,000 after buying an additional 6,708 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its holdings in Citigroup by 13.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,034,678 shares of the company’s stock valued at $83,686,000 after purchasing an additional 245,438 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on C. Wells Fargo & Company reiterated an “overweight” rating and issued a $80.00 target price on shares of Citigroup in a research note on Monday, April 1st. BMO Capital Markets downgraded Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 price target for the company. in a report on Wednesday, January 10th. HSBC raised their price objective on Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Oppenheimer dropped their target price on shares of Citigroup from $88.00 to $87.00 and set an “outperform” rating on the stock in a report on Monday, April 15th. Finally, Piper Sandler lifted their price target on shares of Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $62.91.

Citigroup Price Performance

Shares of C opened at $62.26 on Tuesday. The firm has a market capitalization of $119.24 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 0.94 and a beta of 1.52. The stock’s fifty day moving average is $59.24 and its 200-day moving average is $52.21. Citigroup Inc. has a one year low of $38.17 and a one year high of $63.90. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95.

Citigroup (NYSE:C) last released its earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.29 by $0.29. The firm had revenue of $21.10 billion for the quarter, compared to analysts’ expectations of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. Citigroup’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company earned $1.86 EPS. Equities analysts anticipate that Citigroup Inc. will post 5.97 EPS for the current year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Friday, May 3rd. Citigroup’s dividend payout ratio is presently 62.72%.

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.