Mount Yale Investment Advisors LLC Decreases Holdings in Citigroup Inc. (NYSE:C)

Mount Yale Investment Advisors LLC reduced its position in Citigroup Inc. (NYSE:C) by 13.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 102,237 shares of the company’s stock after selling 16,192 shares during the period. Citigroup makes up about 0.5% of Mount Yale Investment Advisors LLC’s investment portfolio, making the stock its 28th biggest position. Mount Yale Investment Advisors LLC’s holdings in Citigroup were worth $6,488,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Gryphon Financial Partners LLC increased its holdings in Citigroup by 215.7% during the fourth quarter. Gryphon Financial Partners LLC now owns 15,561 shares of the company’s stock valued at $800,000 after buying an additional 10,632 shares during the last quarter. CreativeOne Wealth LLC bought a new position in Citigroup in the 4th quarter worth $264,000. EverSource Wealth Advisors LLC lifted its position in Citigroup by 17.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,220 shares of the company’s stock valued at $217,000 after purchasing an additional 628 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Citigroup by 0.3% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 153,782 shares of the company’s stock valued at $7,911,000 after purchasing an additional 454 shares in the last quarter. Finally, Commerce Bank increased its position in Citigroup by 149.3% in the fourth quarter. Commerce Bank now owns 207,288 shares of the company’s stock worth $10,663,000 after buying an additional 124,138 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, June 17th. Morgan Stanley lifted their price target on shares of Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. The Goldman Sachs Group reduced their price objective on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Piper Sandler lifted their target price on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, Oppenheimer increased their price target on Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Citigroup has a consensus rating of “Moderate Buy” and an average price target of $68.25.

Citigroup Stock Performance

NYSE:C opened at $62.14 on Friday. The company has a market cap of $118.53 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 0.62 and a beta of 1.45. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $67.81. The stock’s 50 day simple moving average is $61.30 and its two-hundred day simple moving average is $61.46. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94.

Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.13. The company had revenue of $20.14 billion for the quarter, compared to analysts’ expectations of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. Citigroup’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.37 earnings per share. As a group, equities analysts anticipate that Citigroup Inc. will post 5.81 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.60%. This is a boost from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. Citigroup’s dividend payout ratio is currently 62.75%.

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.