Mutual of America Capital Management LLC Cuts Position in Citigroup Inc. (NYSE:C)

Mutual of America Capital Management LLC reduced its position in shares of Citigroup Inc. (NYSE:C) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 269,550 shares of the company’s stock after selling 3,643 shares during the period. Mutual of America Capital Management LLC’s holdings in Citigroup were worth $17,106,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of C. POM Investment Strategies LLC purchased a new stake in Citigroup during the 2nd quarter worth approximately $25,000. Frazier Financial Advisors LLC purchased a new stake in Citigroup during the 4th quarter worth approximately $29,000. Beacon Capital Management LLC increased its stake in Citigroup by 85.5% during the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after buying an additional 212 shares in the last quarter. Beaird Harris Wealth Management LLC increased its stake in Citigroup by 1,962.1% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock worth $31,000 after buying an additional 569 shares in the last quarter. Finally, Triad Wealth Partners LLC purchased a new stake in Citigroup during the 2nd quarter worth approximately $32,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Up 1.5 %

NYSE:C opened at $59.30 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. The stock’s fifty day moving average is $61.54 and its two-hundred day moving average is $61.42. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $67.81. The stock has a market capitalization of $113.10 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 0.62 and a beta of 1.45.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The company had revenue of $20.14 billion for the quarter, compared to analysts’ expectations of $20.07 billion. During the same period in the prior year, the firm earned $1.37 earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year. Research analysts anticipate that Citigroup Inc. will post 5.81 EPS for the current year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were given a dividend of $0.56 per share. The ex-dividend date was Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.78%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s dividend payout ratio is currently 62.75%.

Analyst Ratings Changes

Several research firms have commented on C. Morgan Stanley boosted their price objective on Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group lowered their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Oppenheimer boosted their target price on Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Royal Bank of Canada boosted their target price on Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. Finally, Argus boosted their target price on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.25.

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.