Main Street Group LTD Sells 1,145 Shares of Citigroup Inc. (NYSE:C)

Main Street Group LTD lessened its holdings in Citigroup Inc. (NYSE:C) by 31.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,502 shares of the company’s stock after selling 1,145 shares during the period. Main Street Group LTD’s holdings in Citigroup were worth $159,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. POM Investment Strategies LLC bought a new stake in Citigroup in the 2nd quarter worth approximately $25,000. Frazier Financial Advisors LLC purchased a new stake in shares of Citigroup in the 4th quarter valued at $29,000. Beacon Capital Management LLC grew its holdings in shares of Citigroup by 85.5% during the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after purchasing an additional 212 shares during the last quarter. Beaird Harris Wealth Management LLC raised its position in Citigroup by 1,962.1% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock worth $31,000 after purchasing an additional 569 shares during the period. Finally, Triad Wealth Partners LLC bought a new stake in Citigroup in the second quarter worth $32,000. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

C traded down $1.54 during trading on Friday, hitting $59.09. The company’s stock had a trading volume of 14,093,986 shares, compared to its average volume of 14,589,779. The business’s 50 day simple moving average is $62.44 and its 200-day simple moving average is $61.21. The firm has a market cap of $112.71 billion, a PE ratio of 16.55, a P/E/G ratio of 0.68 and a beta of 1.45. Citigroup Inc. has a one year low of $38.17 and a one year high of $67.81. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47.

Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.39 by $0.13. The firm had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.37 earnings per share. As a group, sell-side analysts predict that Citigroup Inc. will post 5.82 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a $0.56 dividend. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.79%. Citigroup’s dividend payout ratio is 62.75%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on C shares. Morgan Stanley raised their target price on shares of Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. BMO Capital Markets raised their price target on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Piper Sandler upped their price objective on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Oppenheimer raised their target price on Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Finally, Evercore ISI upped their price target on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $68.06.

Citigroup Company 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.