Migdal Insurance & Financial Holdings Ltd. Reduces Holdings in Citigroup Inc. (NYSE:C)

Migdal Insurance & Financial Holdings Ltd. reduced its stake in shares of Citigroup Inc. (NYSE:C) by 23.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,144 shares of the company’s stock after selling 3,978 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Citigroup were worth $816,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. POM Investment Strategies LLC acquired a new position in shares of Citigroup in the second quarter worth $25,000. Northwest Investment Counselors LLC acquired a new position in Citigroup in the 3rd quarter valued at about $28,000. Beacon Capital Management LLC lifted its holdings in Citigroup by 85.5% in 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 in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Citigroup in the 2nd quarter valued at about $31,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Citigroup during the second quarter worth about $32,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on C. Bank of America upped their price objective on shares of Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Argus increased their price target on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. The Goldman Sachs Group lowered their price objective on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Evercore ISI increased their target price on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 16th. Finally, Piper Sandler lifted their price target on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.06.

Citigroup Price Performance

C opened at $68.63 on Monday. Citigroup Inc. has a 52-week low of $41.28 and a 52-week high of $70.09. The company has a 50 day moving average of $62.42 and a two-hundred day moving average of $62.36. The company has a market cap of $130.93 billion, a P/E ratio of 19.89, a P/E/G ratio of 0.77 and a beta of 1.44. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 1.55.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The firm had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. During the same period in the prior year, the company earned $1.52 EPS. The firm’s revenue was up .9% on a year-over-year basis. On average, analysts expect that Citigroup Inc. will post 5.85 earnings per share for the current year.

Citigroup Dividend Announcement

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 issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.26%. Citigroup’s payout ratio is currently 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.