Matthew Goff Investment Advisor LLC Has $942,000 Stock Position in Citigroup Inc. (NYSE:C)

Matthew Goff Investment Advisor LLC lowered its position in shares of Citigroup Inc. (NYSE:CFree Report) by 3.1% in the second quarter, Holdings Channel reports. The institutional investor owned 20,453 shares of the company’s stock after selling 656 shares during the period. Matthew Goff Investment Advisor LLC’s holdings in Citigroup were worth $942,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Panagora Asset Management Inc. raised its stake in Citigroup by 24.5% in the first quarter. Panagora Asset Management Inc. now owns 29,752 shares of the company’s stock valued at $1,589,000 after purchasing an additional 5,853 shares in the last quarter. Zions Bancorporation N.A. grew its holdings in shares of Citigroup by 50.5% during the first quarter. Zions Bancorporation N.A. now owns 6,256 shares of the company’s stock worth $334,000 after purchasing an additional 2,100 shares during the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of Citigroup by 20.8% during the first quarter. Brown Brothers Harriman & Co. now owns 5,274 shares of the company’s stock worth $282,000 after purchasing an additional 907 shares during the last quarter. Ergoteles LLC acquired a new position in shares of Citigroup during the first quarter worth approximately $761,000. Finally, Halbert Hargrove Global Advisors LLC raised its position in shares of Citigroup by 7.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 4,077 shares of the company’s stock worth $218,000 after purchasing an additional 268 shares during the period. Institutional investors and hedge funds own 69.26% of the company’s stock.

Citigroup Stock Performance

Shares of C opened at $42.77 on Tuesday. The stock’s 50-day simple moving average is $44.09 and its 200 day simple moving average is $45.79. Citigroup Inc. has a 52-week low of $40.01 and a 52-week high of $53.23. The stock has a market capitalization of $83.26 billion, a price-to-earnings ratio of 6.76, a price-to-earnings-growth ratio of 1.68 and a beta of 1.57. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.95 and a current ratio of 0.95.

Citigroup (NYSE:CGet Free Report) last released its quarterly earnings results on Friday, July 14th. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.02. Citigroup had a return on equity of 6.80% and a net margin of 10.24%. The firm had revenue of $19.44 billion for the quarter, compared to analysts’ expectations of $19.34 billion. During the same quarter last year, the firm posted $2.30 EPS. The company’s revenue was down 1.0% compared to the same quarter last year. Research analysts forecast that Citigroup Inc. will post 5.73 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Monday, August 7th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, August 4th. This is a positive change from Citigroup’s previous quarterly dividend of $0.51. This represents a $2.12 annualized dividend and a dividend yield of 4.96%. Citigroup’s dividend payout ratio is 33.60%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on C. Credit Suisse Group lowered their target price on Citigroup from $54.00 to $50.00 in a research report on Wednesday, May 24th. BMO Capital Markets decreased their price target on Citigroup from $64.00 to $62.00 in a report on Monday, July 17th. Odeon Capital Group upgraded Citigroup from a “hold” rating to a “buy” rating and set a $50.51 price target for the company in a report on Tuesday, July 18th. Piper Sandler reduced their price objective on Citigroup from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday. Finally, HSBC initiated coverage on Citigroup in a research note on Thursday, September 7th. They issued a “hold” rating and a $43.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Citigroup has a consensus rating of “Hold” and a consensus price target of $53.00.

Read Our Latest Stock Report on Citigroup

Citigroup Profile

(Free Report)

Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. It operates through three segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), and Legacy Franchises.

Further Reading

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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