MU Investments Co. Ltd. Decreases Stake in Citigroup Inc (C)

MU Investments Co. Ltd. reduced its stake in Citigroup Inc (NYSE:C) by 7.4% during the first quarter, Holdings Channel reports. The institutional investor owned 2,140 shares of the financial services provider’s stock after selling 170 shares during the period. MU Investments Co. Ltd.’s holdings in Citigroup were worth $129,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in C. FNY Partners Fund LP bought a new position in Citigroup during the fourth quarter worth $106,000. Enterprise Financial Services Corp raised its position in Citigroup by 44.5% in the third quarter. Enterprise Financial Services Corp now owns 2,447 shares of the financial services provider’s stock worth $116,000 after buying an additional 753 shares during the period. Patten Group Inc. raised its position in Citigroup by 12.3% in the third quarter. Patten Group Inc. now owns 2,426 shares of the financial services provider’s stock worth $118,000 after buying an additional 265 shares during the period. Northwest Quadrant Wealth Management LLC bought a new position in Citigroup during the fourth quarter worth $124,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Citigroup during the fourth quarter worth $126,000. 73.82% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Citigroup (NYSE:C)

Shares of Citigroup Inc (NYSE:C) opened at 58.41 on Friday. Citigroup Inc has a 52 week low of $38.31 and a 52 week high of $62.53. The company has a market capitalization of $160.82 billion, a PE ratio of 11.77 and a beta of 1.68. The firm’s 50-day moving average price is $59.64 and its 200 day moving average price is $56.76.

Citigroup (NYSE:C) last posted its earnings results on Thursday, April 13th. The financial services provider reported $1.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.11. Citigroup had a net margin of 18.10% and a return on equity of 7.09%. The firm earned $18.12 billion during the quarter, compared to the consensus estimate of $17.75 billion. During the same quarter last year, the firm earned $1.10 EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities analysts predict that Citigroup Inc will post $5.18 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Investors of record on Monday, May 1st will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, April 27th. This represents a $0.64 annualized dividend and a yield of 1.10%. Citigroup’s dividend payout ratio (DPR) is presently 13.56%.

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A number of analysts have commented on the company. Zacks Investment Research lowered Citigroup from a “buy” rating to a “hold” rating in a report on Monday, April 10th. Vetr upgraded Citigroup from a “buy” rating to a “strong-buy” rating and set a $63.94 price target on the stock in a research note on Monday, January 30th. Nomura restated a “buy” rating and issued a $69.00 price target on shares of Citigroup in a research note on Monday. Jefferies Group LLC restated a “hold” rating and issued a $63.00 price target on shares of Citigroup in a research note on Thursday, February 23rd. Finally, Barclays PLC raised their price target on Citigroup from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Citigroup currently has a consensus rating of “Buy” and an average target price of $63.30.

In other Citigroup news, President James A. Forese sold 55,436 shares of the firm’s stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $59.60, for a total value of $3,303,985.60. Following the completion of the transaction, the president now owns 500,438 shares of the company’s stock, valued at approximately $29,826,104.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Corbat sold 83,285 shares of the firm’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $60.14, for a total transaction of $5,008,759.90. Following the completion of the transaction, the chief executive officer now directly owns 548,060 shares of the company’s stock, valued at approximately $32,960,328.40. The disclosure for this sale can be found here. Insiders sold a total of 211,303 shares of company stock valued at $12,606,410 in the last quarter. 0.13% of the stock is owned by insiders.

About Citigroup

Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.

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