Deseret Mutual Benefit Administrators Sells 394 Shares of Citigroup Inc. (NYSE:C)

Deseret Mutual Benefit Administrators cut its stake in shares of Citigroup Inc. (NYSE:C) by 3.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,959 shares of the company’s stock after selling 394 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Citigroup were worth $623,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its position in Citigroup by 123.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after purchasing an additional 17,525,484 shares during the last quarter. Swedbank AB purchased a new position in shares of Citigroup during the 1st quarter valued at about $253,286,000. Acadian Asset Management LLC lifted its position in shares of Citigroup by 527.5% during the 2nd quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock valued at $158,521,000 after buying an additional 2,100,135 shares in the last quarter. Caxton Associates LP lifted its position in shares of Citigroup by 7,393.3% during the 1st quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock valued at $127,453,000 after buying an additional 1,988,494 shares in the last quarter. Finally, Capital World Investors raised its stake in Citigroup by 26.1% during the 1st quarter. Capital World Investors now owns 5,280,342 shares of the company’s stock valued at $333,929,000 after purchasing an additional 1,092,980 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on C. Morgan Stanley reduced their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Argus boosted their price objective on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. The Goldman Sachs Group dropped their price objective on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Piper Sandler boosted 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. Finally, Barclays boosted their price objective on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $72.06.

Citigroup Stock Performance

Shares of NYSE:C opened at $68.35 on Thursday. Citigroup Inc. has a 1 year low of $41.28 and a 1 year high of $70.09. The firm has a market capitalization of $130.40 billion, a PE ratio of 20.01, a P/E/G ratio of 0.71 and a beta of 1.44. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.94. The business’s 50 day moving average price is $62.02 and its 200-day moving average price is $62.22.

Citigroup (NYSE:C) last posted 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. The company had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.52 earnings per share. As a group, equities research analysts expect that Citigroup Inc. will post 5.87 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be paid a dividend of $0.56 per share. The ex-dividend date is Monday, November 4th. This represents a $2.24 annualized dividend and a yield of 3.28%. 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.