Massachusetts Financial Services Co. MA Cuts Stake in Citigroup Inc. (NYSE:C)

Massachusetts Financial Services Co. MA lowered its holdings in shares of Citigroup Inc. (NYSE:CFree Report) by 2.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,081,625 shares of the company’s stock after selling 566,244 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Citigroup were worth $908,217,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Meridian Wealth Management LLC raised its position in Citigroup by 130.4% during the 3rd quarter. Meridian Wealth Management LLC now owns 175,576 shares of the company’s stock worth $7,221,000 after buying an additional 99,371 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Citigroup in the 3rd quarter valued at about $209,000. Capital Research Global Investors increased its holdings in shares of Citigroup by 47.0% in the 2nd quarter. Capital Research Global Investors now owns 12,473,605 shares of the company’s stock valued at $574,285,000 after purchasing an additional 3,986,558 shares in the last quarter. Kestra Private Wealth Services LLC increased its holdings in shares of Citigroup by 17.1% in the 2nd quarter. Kestra Private Wealth Services LLC now owns 60,384 shares of the company’s stock valued at $2,780,000 after purchasing an additional 8,821 shares in the last quarter. Finally, YHB Investment Advisors Inc. increased its holdings in shares of Citigroup by 1.7% in the 2nd quarter. YHB Investment Advisors Inc. now owns 52,151 shares of the company’s stock valued at $2,401,000 after purchasing an additional 886 shares in the last quarter. Institutional investors and hedge funds own 69.26% of the company’s stock.

Analyst Upgrades and Downgrades

C has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price target on shares of Citigroup from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, December 19th. Morgan Stanley upgraded shares of Citigroup from an “underweight” rating to an “overweight” rating and increased their price target for the company from $46.00 to $65.00 in a report on Tuesday, January 30th. Societe Generale downgraded shares of Citigroup from a “hold” rating to a “sell” rating in a report on Monday, January 8th. Piper Sandler raised their target price on shares of Citigroup from $53.00 to $56.00 and gave the company a “neutral” rating in a report on Tuesday, January 16th. Finally, TheStreet upgraded shares of Citigroup from a “c+” rating to a “b-” rating in a report on Wednesday, December 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $56.62.

Get Our Latest Stock Analysis on Citigroup

Citigroup Trading Down 0.9 %

NYSE C opened at $55.54 on Monday. Citigroup Inc. has a one year low of $38.17 and a one year high of $57.95. The company’s 50 day moving average price is $51.17 and its 200 day moving average price is $45.55. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.94 and a current ratio of 0.95. The firm has a market capitalization of $106.30 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 1.52 and a beta of 1.52.

Citigroup (NYSE:CGet Free Report) last posted its quarterly earnings results on Friday, January 12th. The company reported ($1.16) EPS for the quarter, missing the consensus estimate of $0.73 by ($1.89). The business had revenue of $17.44 billion during the quarter, compared to analysts’ expectations of $18.71 billion. Citigroup had a net margin of 5.88% and a return on equity of 6.49%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.10 EPS. On average, sell-side analysts predict that Citigroup Inc. will post 5.93 EPS for the current year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Monday, February 5th will be paid a dividend of $0.53 per share. The ex-dividend date is Friday, February 2nd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.82%. Citigroup’s dividend payout ratio is currently 53.13%.

Citigroup Company Profile

(Free Report)

Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. It operates through three segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), and Legacy Franchises.

See Also

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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