Citigroup Inc. (NYSE:C) Holdings Lowered by M&T Bank Corp

M&T Bank Corp reduced its stake in Citigroup Inc. (NYSE:C) by 6.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 282,442 shares of the company’s stock after selling 19,650 shares during the period. M&T Bank Corp’s holdings in Citigroup were worth $14,529,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Carmel Capital Partners LLC bought a new position in shares of Citigroup during the 3rd quarter valued at about $25,000. Orion Capital Management LLC bought a new stake in Citigroup during the fourth quarter worth approximately $26,000. AlphaMark Advisors LLC grew its position in Citigroup by 75.0% in the third quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock worth $29,000 after buying an additional 300 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Citigroup in the third quarter valued at $35,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of Citigroup during the 4th quarter valued at $35,000. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Performance

Shares of C traded up $0.51 on Friday, reaching $61.52. 11,048,877 shares of the stock traded hands, compared to its average volume of 15,112,875. The firm has a market cap of $117.83 billion, a price-to-earnings ratio of 18.20, a P/E/G ratio of 0.92 and a beta of 1.49. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $63.90. The stock’s 50-day moving average price is $59.70 and its 200-day moving average price is $52.62. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95.

Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.29. The company had revenue of $21.10 billion during 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%. The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.86 EPS. Equities analysts forecast that Citigroup Inc. will post 5.98 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.53 per share. The ex-dividend date is Friday, May 3rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.45%. Citigroup’s payout ratio is presently 62.72%.

Analyst Upgrades and Downgrades

C has been the topic of a number of recent analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Citigroup in a research report on Monday, April 1st. Oppenheimer reduced their price target on shares of Citigroup from $87.00 to $86.00 and set an “outperform” rating for the company in a research report on Tuesday, April 30th. Jefferies Financial Group upped their target price on Citigroup from $56.00 to $65.00 and gave the company a “hold” rating in a report on Monday, April 8th. Piper Sandler upped their price objective on shares of Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, Morgan Stanley upgraded Citigroup from an “underweight” rating to an “overweight” rating and boosted their target price for the company from $46.00 to $65.00 in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and a consensus target price of $62.85.

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.