Magnus Financial Group LLC Has $242,000 Stock Position in Citigroup Inc. (NYSE:C)

Magnus Financial Group LLC lessened its position in shares of Citigroup Inc. (NYSE:C) by 6.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,703 shares of the company’s stock after selling 341 shares during the quarter. Magnus Financial Group LLC’s holdings in Citigroup were worth $242,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in C. International Assets Investment Management LLC acquired a new position in Citigroup in the fourth quarter valued at about $2,109,120,000. Greenhaven Associates Inc. boosted its stake in Citigroup by 22.4% during the 4th quarter. Greenhaven Associates Inc. now owns 16,113,305 shares of the company’s stock worth $828,868,000 after acquiring an additional 2,948,512 shares during the last quarter. AQR Capital Management LLC grew its holdings in Citigroup by 42.4% during the third quarter. AQR Capital Management LLC now owns 6,484,540 shares of the company’s stock valued at $266,709,000 after purchasing an additional 1,930,296 shares during the period. Canada Pension Plan Investment Board increased its stake in Citigroup by 251.1% in the third quarter. Canada Pension Plan Investment Board now owns 2,356,177 shares of the company’s stock valued at $96,910,000 after purchasing an additional 1,685,100 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Citigroup by 49.8% in the third quarter. Envestnet Asset Management Inc. now owns 2,885,568 shares of the company’s stock worth $118,683,000 after purchasing an additional 959,040 shares during the period. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on C. Societe Generale cut shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, January 8th. Morgan Stanley upgraded Citigroup from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $46.00 to $65.00 in a report on Tuesday, January 30th. Wolfe Research upgraded Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a report on Wednesday, January 3rd. HSBC boosted their price objective on Citigroup from $61.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Finally, Barclays raised their target price on shares of Citigroup from $59.00 to $63.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Citigroup has an average rating of “Moderate Buy” and a consensus price target of $62.91.

Citigroup Trading Down 0.6 %

Citigroup stock opened at $62.26 on Tuesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a 50-day moving average of $59.24 and a 200-day moving average of $52.21. The company has a market cap of $119.24 billion, a price-to-earnings ratio of 18.42, a P/E/G ratio of 0.94 and a beta of 1.52. Citigroup Inc. has a one year low of $38.17 and a one year high of $63.90.

Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.29. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The firm had revenue of $21.10 billion during the quarter, compared to the consensus estimate of $20.46 billion. During the same period last year, the company earned $1.86 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. On average, equities analysts expect that Citigroup Inc. will post 5.97 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 3.41%. The ex-dividend date is Friday, May 3rd. Citigroup’s dividend payout ratio (DPR) is currently 62.72%.

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.