Magnolia Wealth Management LLC Takes $941,000 Position in Citigroup Inc. (NYSE:C)

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Magnolia Wealth Management LLC acquired a new stake in shares of Citigroup Inc. (NYSE:CGet Rating) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,800 shares of the company’s stock, valued at approximately $941,000.

Other large investors also recently added to or reduced their stakes in the company. New England Professional Planning Group Inc. acquired a new stake in Citigroup during the 1st quarter valued at $227,000. Gordian Capital Singapore Pte Ltd acquired a new stake in Citigroup during the 4th quarter valued at $31,000. Nvwm LLC raised its stake in Citigroup by 196.3% during the 1st quarter. Nvwm LLC now owns 554 shares of the company’s stock valued at $30,000 after purchasing an additional 367 shares during the period. Bell Investment Advisors Inc raised its stake in Citigroup by 58.0% during the 4th quarter. Bell Investment Advisors Inc now owns 583 shares of the company’s stock valued at $35,000 after purchasing an additional 214 shares during the period. Finally, Rational Advisors LLC raised its stake in Citigroup by 71.1% during the 1st quarter. Rational Advisors LLC now owns 592 shares of the company’s stock valued at $32,000 after purchasing an additional 246 shares during the period. 71.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Citigroup

In related news, insider Citigroup Inc sold 4,614,358 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $36.25, for a total value of $167,270,477.50. Following the completion of the sale, the insider now owns 15,318 shares in the company, valued at $555,277.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.08% of the stock is owned by corporate insiders.

Citigroup Stock Down 1.2 %

C stock opened at $48.43 on Thursday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.93 and a quick ratio of 0.93. Citigroup Inc. has a 52-week low of $43.44 and a 52-week high of $73.72. The company has a 50-day moving average of $50.60 and a two-hundred day moving average of $51.24. The stock has a market capitalization of $93.79 billion, a price-to-earnings ratio of 6.19, a price-to-earnings-growth ratio of 0.61 and a beta of 1.60.

Citigroup (NYSE:CGet Rating) last released its quarterly earnings results on Friday, July 15th. The company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.63. Citigroup had a net margin of 20.06% and a return on equity of 10.25%. The company had revenue of $19.64 billion during the quarter, compared to analysts’ expectations of $18.32 billion. During the same period in the prior year, the company earned $2.84 earnings per share. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Citigroup Inc. will post 7.37 EPS for the current year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Monday, August 1st were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend was Friday, July 29th. Citigroup’s payout ratio is presently 26.09%.

Wall Street Analysts Forecast Growth

C has been the topic of several recent analyst reports. Wells Fargo & Company cut their target price on shares of Citigroup from $70.00 to $60.00 and set an “overweight” rating on the stock in a research note on Friday, July 1st. Seaport Res Ptn reaffirmed a “buy” rating on shares of Citigroup in a research note on Friday, July 8th. Royal Bank of Canada dropped their price target on shares of Citigroup from $65.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, June 27th. UBS Group upped their price target on shares of Citigroup from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, July 18th. Finally, Barclays dropped their price target on shares of Citigroup from $67.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Monday, July 18th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.31.

About Citigroup

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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. The company operates in two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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