MGO One Seven LLC Increases Stake in Citigroup Inc. (NYSE:C)

MGO One Seven LLC raised its holdings in shares of Citigroup Inc. (NYSE:C) by 16.5% during the 4th quarter, HoldingsChannel reports. The fund owned 52,142 shares of the company’s stock after acquiring an additional 7,389 shares during the quarter. MGO One Seven LLC’s holdings in Citigroup were worth $3,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisory Resource Group raised its position in shares of Citigroup by 3.7% during the 3rd quarter. Advisory Resource Group now owns 72,947 shares of the company’s stock valued at $4,566,000 after purchasing an additional 2,590 shares during the period. Te Ahumairangi Investment Management Ltd raised its holdings in Citigroup by 6.7% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 202,691 shares of the company’s stock valued at $12,617,000 after acquiring an additional 12,810 shares during the period. Anchor Investment Management LLC lifted its position in shares of Citigroup by 24.4% in the third quarter. Anchor Investment Management LLC now owns 2,557 shares of the company’s stock valued at $160,000 after acquiring an additional 501 shares in the last quarter. World Investment Advisors LLC boosted its stake in shares of Citigroup by 36.6% in the third quarter. World Investment Advisors LLC now owns 21,527 shares of the company’s stock worth $1,348,000 after acquiring an additional 5,763 shares during the period. Finally, Wilmington Savings Fund Society FSB grew its position in shares of Citigroup by 432.6% during the third quarter. Wilmington Savings Fund Society FSB now owns 38,191 shares of the company’s stock worth $2,391,000 after purchasing an additional 31,020 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Trading Up 2.9 %

Shares of NYSE C opened at $66.39 on Thursday. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The company has a market cap of $124.96 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 0.64 and a beta of 1.29. The business’s 50 day moving average price is $70.03 and its 200-day moving average price is $70.97. 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) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.84 by $0.12. The company had revenue of $21.60 billion for the quarter, compared to the consensus estimate 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 expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders 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 dividend yield of 3.37%. The ex-dividend date is Monday, May 5th. Citigroup’s dividend payout ratio is presently 35.39%.

Citigroup declared that its board has approved a stock buyback program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 13.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on C shares. Oppenheimer lowered their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Piper Sandler restated an “overweight” rating and set a $77.00 target price (down previously from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. JPMorgan Chase & Co. reduced their price target on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. The Goldman Sachs Group dropped their price objective on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. Finally, Bank of America reduced their target price on Citigroup from $90.00 to $89.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and an average price target of $84.61.

Insider Activity at Citigroup

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the transaction, the chief operating officer now owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. This trade represents a 11.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the completion of the sale, the insider now directly owns 109,780 shares of the company’s stock, valued at $8,893,277.80. The trade was a 12.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,590 shares of company stock worth $8,523,149. Company insiders own 0.08% of the company’s stock.

Citigroup 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.