Citigroup Inc. (NYSE:C) Shares Sold by Mechanics Financial Corp

Mechanics Financial Corp cut its stake in Citigroup Inc. (NYSE:C) by 77.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,076 shares of the company’s stock after selling 7,193 shares during the period. Mechanics Financial Corp’s holdings in Citigroup were worth $107,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Carmel Capital Partners LLC bought a new stake in shares of Citigroup in the 3rd quarter valued at approximately $25,000. Orion Capital Management LLC acquired a new stake in shares of Citigroup during the fourth quarter worth $26,000. AlphaMark Advisors LLC raised its holdings in shares of Citigroup by 75.0% during the third quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock worth $29,000 after purchasing an additional 300 shares during the period. OFI Invest Asset Management acquired a new position in shares of Citigroup in the 3rd quarter valued at about $35,000. Finally, Rakuten Securities Inc. bought a new stake in shares of Citigroup during the 4th quarter valued at about $35,000. 71.72% of the stock is currently owned by institutional investors.

Citigroup Price Performance

Shares of C stock traded down $0.15 during mid-day trading on Thursday, hitting $61.20. 3,926,140 shares of the stock traded hands, compared to its average volume of 16,707,410. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $63.90. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95. The company’s 50-day simple moving average is $59.48 and its 200-day simple moving average is $52.41. The firm has a market cap of $117.22 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 0.92 and a beta of 1.49.

Citigroup (NYSE:C) last released its earnings results on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.29. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The firm had revenue of $21.10 billion for the quarter, compared to analyst estimates of $20.46 billion. During the same period in the previous year, the company earned $1.86 earnings per share. Citigroup’s revenue was down 1.6% compared to the same quarter last year. As a group, equities research analysts expect that Citigroup Inc. will post 5.97 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Friday, May 3rd. Citigroup’s payout ratio is 62.72%.

Analyst Ratings Changes

A number of equities analysts have commented on C shares. Societe Generale downgraded Citigroup from a “hold” rating to a “sell” rating in a research note on Monday, January 8th. Morgan Stanley upgraded Citigroup from an “underweight” rating to an “overweight” rating and boosted their price objective for the company from $46.00 to $65.00 in a research report on Tuesday, January 30th. Jefferies Financial Group increased their target price on Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. StockNews.com raised shares of Citigroup from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Citigroup in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.85.

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.