Manning & Napier Group LLC Sells 92,491 Shares of Citigroup Inc. (NYSE:C)

Manning & Napier Group LLC lowered its position in Citigroup Inc. (NYSE:C) by 15.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 514,018 shares of the company’s stock after selling 92,491 shares during the period. Manning & Napier Group LLC’s holdings in Citigroup were worth $26,441,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in C. Carmel Capital Partners LLC bought a new position in shares of Citigroup in the third quarter valued at approximately $25,000. GHP Investment Advisors Inc. lifted its holdings in shares of Citigroup by 73.8% in the third quarter. GHP Investment Advisors Inc. now owns 683 shares of the company’s stock valued at $28,000 after purchasing an additional 290 shares in the last quarter. SkyView Investment Advisors LLC bought a new position in shares of Citigroup in the first quarter valued at approximately $28,000. AlphaMark Advisors LLC lifted its holdings in shares of Citigroup by 75.0% in the third quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock valued at $29,000 after purchasing an additional 300 shares in the last quarter. Finally, Union Savings Bank bought a new position in shares of Citigroup in the second quarter valued at approximately $30,000. Institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. The Goldman Sachs Group raised Citigroup from a “neutral” rating to a “buy” rating and increased their price target for the company from $55.00 to $68.00 in a research report on Thursday, March 14th. Wolfe Research raised Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price target for the company in a research report on Wednesday, January 3rd. Daiwa Capital Markets raised Citigroup from a “neutral” rating to a “buy” rating and set a $63.00 target price for the company in a research report on Monday, December 18th. Piper Sandler raised Citigroup from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $56.00 to $63.00 in a research report on Wednesday, February 14th. Finally, HSBC raised their target price on Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and an average target price of $59.56.

Citigroup Stock Up 0.8 %

Shares of NYSE:C traded up $0.49 during trading on Friday, hitting $63.24. The stock had a trading volume of 19,011,955 shares, compared to its average volume of 16,141,568. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $63.37. The company has a market capitalization of $121.12 billion, a PE ratio of 15.85, a PEG ratio of 1.75 and a beta of 1.50. The firm’s fifty day moving average is $56.30 and its 200 day moving average is $49.05. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.52.

Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, January 12th. The company reported ($1.16) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($1.89). The company had revenue of $17.44 billion during the quarter, compared to analysts’ expectations of $18.71 billion. Citigroup had a return on equity of 6.49% and a net margin of 5.88%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.10 EPS. Analysts anticipate that Citigroup Inc. will post 5.83 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Monday, February 5th were paid a dividend of $0.53 per share. The ex-dividend date was Friday, February 2nd. This represents a $2.12 annualized dividend and a yield of 3.35%. Citigroup’s dividend payout ratio is 53.13%.

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.