M&G Plc Buys 1,649 Shares of Citigroup Inc. (NYSE:C)

M&G Plc boosted its stake in shares of Citigroup Inc. (NYSE:C) by 0.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 486,889 shares of the company’s stock after acquiring an additional 1,649 shares during the period. M&G Plc’s holdings in Citigroup were worth $30,674,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. MONECO Advisors LLC boosted its holdings in shares of Citigroup by 2.9% in the 2nd quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock valued at $352,000 after purchasing an additional 157 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its holdings in shares of Citigroup by 4.0% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock valued at $272,000 after purchasing an additional 164 shares in the last quarter. NorthRock Partners LLC boosted its holdings in shares of Citigroup by 2.7% in the 1st quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock valued at $398,000 after purchasing an additional 165 shares in the last quarter. Legacy Capital Group California Inc. boosted its holdings in shares of Citigroup by 1.0% in the 2nd quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock valued at $1,053,000 after purchasing an additional 169 shares in the last quarter. Finally, Grove Bank & Trust boosted its holdings in shares of Citigroup by 7.1% in the 3rd quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock valued at $161,000 after purchasing an additional 170 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on C shares. Bank of America raised their target price on Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Piper Sandler raised their price objective on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Oppenheimer raised their price objective on Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a report on Tuesday. The Goldman Sachs Group cut their price objective on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, BMO Capital Markets lifted their target price on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and an average target price of $72.06.

Citigroup Stock Performance

C stock opened at $69.03 on Thursday. The stock has a 50-day moving average price of $62.02 and a 200-day moving average price of $62.22. Citigroup Inc. has a 1-year low of $41.28 and a 1-year high of $70.09. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 1.55. The firm has a market cap of $131.70 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. During the same period in the previous year, the company posted $1.52 EPS. The firm’s revenue was up .9% compared to the same quarter last year. As a group, equities research analysts expect that Citigroup Inc. will post 5.87 earnings per share for the current year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Monday, November 4th. Citigroup’s payout ratio is 64.93%.

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.