Massachusetts Wealth Management Purchases 900 Shares of Citigroup Inc. (NYSE:C)

Massachusetts Wealth Management boosted its position in Citigroup Inc. (NYSE:C) by 2.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 40,682 shares of the company’s stock after purchasing an additional 900 shares during the period. Citigroup comprises 1.8% of Massachusetts Wealth Management’s investment portfolio, making the stock its 15th biggest position. Massachusetts Wealth Management’s holdings in Citigroup were worth $2,573,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Orion Capital Management LLC bought a new position in shares of Citigroup during the 4th quarter valued at approximately $26,000. Frazier Financial Advisors LLC bought a new position in shares of Citigroup during the 4th quarter valued at approximately $29,000. Beaird Harris Wealth Management LLC grew its position in shares of Citigroup by 1,962.1% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock valued at $31,000 after acquiring an additional 569 shares during the period. Rakuten Securities Inc. bought a new position in shares of Citigroup during the 4th quarter valued at approximately $35,000. Finally, Tennessee Valley Asset Management Partners bought a new position in Citigroup in the 4th quarter worth approximately $39,000. 71.72% of the stock is owned by institutional investors.

Citigroup Stock Performance

Citigroup stock opened at $64.46 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $122.95 billion, a PE ratio of 19.07, a P/E/G ratio of 0.99 and a beta of 1.46. The firm has a fifty day simple moving average of $62.19 and a two-hundred day simple moving average of $58.23. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $65.22.

Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.29. The business had revenue of $21.10 billion during the quarter, compared to the consensus estimate of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.86 earnings per share. Research analysts expect that Citigroup Inc. will post 5.85 EPS for the current year.

Analysts Set New Price Targets

C has been the subject of several analyst reports. Royal Bank of Canada raised their price objective on shares of Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. Oppenheimer cut their price objective on shares of Citigroup from $87.00 to $86.00 and set an “outperform” rating for the company in a report on Tuesday, April 30th. Piper Sandler raised their price objective on shares of Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 price objective on shares of Citigroup in a report on Thursday, June 20th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $80.00 price objective on shares of Citigroup in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $65.16.

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.