Mechanics Financial Corp Sells 7,193 Shares of Citigroup Inc. (NYSE:C)

Mechanics Financial Corp decreased its holdings in shares of Citigroup Inc. (NYSE:C) by 77.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,076 shares of the company’s stock after selling 7,193 shares during the quarter. Mechanics Financial Corp’s holdings in Citigroup were worth $107,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in Citigroup in the fourth quarter worth $26,000. Carmel Capital Partners LLC bought a new stake in shares of Citigroup in the 3rd quarter valued at $25,000. Rakuten Securities Inc. bought a new position in Citigroup during the fourth quarter worth about $35,000. AlphaMark Advisors LLC grew its stake in Citigroup by 75.0% in the third quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock valued at $29,000 after acquiring an additional 300 shares during the period. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of Citigroup in the fourth quarter worth about $39,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Down 0.2 %

C stock traded down $0.15 during mid-day trading on Thursday, reaching $61.20. The company had a trading volume of 3,926,140 shares, compared to its average volume of 16,707,410. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $63.90. The company has a market capitalization of $117.22 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 0.92 and a beta of 1.49. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a 50 day simple moving average of $59.48 and a two-hundred day simple moving average of $52.41.

Citigroup (NYSE:C) last released its earnings results on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.29. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The business had revenue of $21.10 billion during the quarter, compared to analysts’ expectations of $20.46 billion. During the same period last year, the business earned $1.86 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. As a group, equities analysts predict that Citigroup Inc. will post 5.97 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on C shares. StockNews.com upgraded Citigroup from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. Wolfe Research raised shares of Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a research note on Wednesday, January 3rd. Evercore ISI increased their price objective on shares of Citigroup from $58.00 to $60.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Keefe, Bruyette & Woods raised their price objective on shares of Citigroup from $54.00 to $66.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Citigroup in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.85.

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.