Massachusetts Financial Services Co. MA Sells 418,784 Shares of Citigroup Inc. (NYSE:C)

Massachusetts Financial Services Co. MA trimmed its position in Citigroup Inc. (NYSE:C) by 2.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,027,095 shares of the company’s stock after selling 418,784 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Citigroup were worth $1,316,296,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in C. POM Investment Strategies LLC purchased a new position in Citigroup in the second quarter worth $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Citigroup in the 3rd quarter worth about $28,000. Beacon Capital Management LLC boosted its holdings in shares of Citigroup by 85.5% in the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after purchasing an additional 212 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Citigroup during the 2nd quarter valued at about $31,000. Finally, Triad Wealth Partners LLC purchased a new position in shares of Citigroup during the 2nd quarter valued at about $32,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Price Performance

C opened at $68.28 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. The business’s fifty day simple moving average is $63.84 and its 200-day simple moving average is $62.75. The company has a market capitalization of $129.14 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 0.77 and a beta of 1.44. Citigroup Inc. has a 12-month low of $44.56 and a 12-month high of $70.20.

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. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. During the same quarter last year, the firm posted $1.52 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities research analysts anticipate that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 annualized dividend and a yield of 3.28%. Citigroup’s dividend payout ratio (DPR) is presently 64.93%.

Analysts Set New Price Targets

C has been the subject of a number of recent research reports. The Goldman Sachs Group lowered their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Oppenheimer lifted their price objective on Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Bank of America boosted their price objective on shares of Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Evercore ISI raised their price objective on shares of Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company raised their price objective on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Citigroup Company 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.