Massachusetts Wealth Management Sells 5,355 Shares of Citigroup Inc. $C

Massachusetts Wealth Management decreased its holdings in Citigroup Inc. (NYSE:C) by 10.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,910 shares of the company’s stock after selling 5,355 shares during the quarter. Citigroup accounts for approximately 2.3% of Massachusetts Wealth Management’s holdings, making the stock its 8th largest position. Massachusetts Wealth Management’s holdings in Citigroup were worth $5,944,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Bank of New York Mellon Corp bought a new stake in shares of Citigroup during the second quarter valued at about $3,244,602,000. Nykredit A S acquired a new stake in Citigroup in the second quarter worth about $458,275,000. State Street Corp grew its position in Citigroup by 3.7% in the 2nd quarter. State Street Corp now owns 80,956,349 shares of the company’s stock valued at $11,199,986,000 after buying an additional 2,913,701 shares in the last quarter. SEB Asset Management AB bought a new position in Citigroup in the 1st quarter valued at about $252,972,000. Finally, OMERS ADMINISTRATION Corp grew its position in Citigroup by 1,137.1% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 1,840,374 shares of the company’s stock valued at $257,579,000 after buying an additional 1,691,611 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Morgan Stanley views the post-earnings selloff as excessive. The firm reportedly sees approximately 32% upside for Citigroup, arguing that the roughly 6% decline after earnings was not justified. The bullish view could help support a rebound in C shares. Morgan Stanley says Citigroup’s post-earnings drop is unjustified
• Positive Sentiment: Citigroup declared a quarterly dividend of $0.67 per share. The payment is scheduled for November 25 for shareholders of record on November 2, representing an annualized dividend of $2.68 and a yield of roughly 2.2%. The continued payout reinforces the bank’s shareholder-return appeal. Citigroup Declares Common Stock Dividend
• Positive Sentiment: Citi is expanding its commercial and advertising capabilities through Citi Commerce Media. The initiative uses transaction insights to help advertisers predict consumer purchases, potentially creating a new fee and data-related revenue opportunity, although the financial impact is not yet quantified. Advertisers Should Stop Chasing Customers, Start Predicting Purchases: Citi’s Mike Venable
• Neutral Sentiment: Citigroup remains involved in strategic discussions over access to China’s financial market and is reorganizing its artificial-intelligence leadership. Progress on market permissions or AI capabilities could improve long-term growth, but the reports provide no immediate earnings impact. What Is Citigroup Signaling With China Talks And Its AI Reset?
• Neutral Sentiment: Citigroup disclosed that its stake in Solvay crossed 3%. The investment is unlikely to materially affect Citigroup’s valuation or near-term operating results. Citigroup Lifts Stake Above 3% in Solvay

Analyst Upgrades and Downgrades

Several equities analysts have commented on C shares. JPMorgan Chase & Co. lowered their target price on shares of Citigroup from $149.00 to $147.00 and set an “overweight” rating on the stock in a research note on Friday, October 2nd. Bank of America upped their price target on shares of Citigroup from $170.00 to $176.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Zacks Research cut shares of Citigroup from a “strong-buy” rating to a “hold” rating in a report on Monday, September 14th. UBS Group set a $148.00 price objective on shares of Citigroup in a report on Wednesday, October 14th. Finally, Morgan Stanley raised their price objective on shares of Citigroup from $154.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.79.

Citigroup Trading Up 1.1%

Shares of Citigroup stock opened at $123.85 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 1.78. The firm has a market cap of $211.24 billion, a price-to-earnings ratio of 12.08, a price-to-earnings-growth ratio of 0.54 and a beta of 1.13. The business has a fifty day simple moving average of $131.93 and a 200-day simple moving average of $132.11. Citigroup Inc. has a fifty-two week low of $95.00 and a fifty-two week high of $147.96.

Citigroup (NYSE:C) last released its earnings results on Tuesday, October 13th. The company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.19. The firm had revenue of $23.84 billion for the quarter, compared to analyst estimates of $23.74 billion. Citigroup had a return on equity of 10.57% and a net margin of 10.97%. Citigroup’s revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.86 earnings per share. On average, equities analysts forecast that Citigroup Inc. will post 11.42 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Monday, November 2nd will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, November 2nd. Citigroup’s dividend payout ratio is presently 26.15%.

About Citigroup

Citigroup Inc is a global financial services company headquartered in New York City and operates under the Citi brand. The company provides banking, lending, investment, wealth management and other financial services to individuals, businesses, institutions and governments.

Citi’s consumer offerings include checking and savings accounts, credit cards, mortgages, personal lending and wealth management services. Through its institutional businesses, the company provides investment banking, commercial banking, securities brokerage, markets and trading, cash management, trade finance and custody services.