Citigroup Inc. (NYSE:C) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. decreased its holdings in Citigroup Inc. (NYSE:C) by 61.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,670 shares of the company’s stock after selling 28,150 shares during the quarter. Meyer Handelman Co.’s holdings in Citigroup were worth $1,254,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in C. Norges Bank acquired a new stake in Citigroup during the 4th quarter worth about $1,935,599,000. Capital World Investors lifted its position in Citigroup by 455.2% during the 4th quarter. Capital World Investors now owns 31,352,582 shares of the company’s stock worth $2,206,908,000 after acquiring an additional 25,705,141 shares during the period. FMR LLC lifted its position in Citigroup by 29.7% during the 4th quarter. FMR LLC now owns 34,362,176 shares of the company’s stock worth $2,418,754,000 after acquiring an additional 7,863,718 shares during the period. Raymond James Financial Inc. acquired a new stake in Citigroup during the 4th quarter worth about $198,231,000. Finally, Franklin Resources Inc. lifted its position in Citigroup by 9.3% during the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company’s stock worth $2,311,048,000 after acquiring an additional 2,804,850 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Insider Transactions at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the transaction, the director now directly owns 13,048 shares in the company, valued at $890,656.48. The trade was a 25.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

C has been the subject of a number of research reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $92.00 price target (down previously from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. TD Cowen began coverage on Citigroup in a report on Thursday, May 15th. They issued a “hold” rating and a $83.00 price objective for the company. Oppenheimer reissued an “outperform” rating on shares of Citigroup in a report on Tuesday, May 20th. Morgan Stanley decreased their price objective on Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Royal Bank of Canada decreased their price objective on Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a report on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and a consensus target price of $83.97.

Citigroup Price Performance

NYSE:C opened at $75.30 on Friday. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The stock has a 50 day moving average of $68.89 and a two-hundred day moving average of $72.47. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The firm has a market cap of $140.64 billion, a P/E ratio of 12.66, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.84 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. On average, analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Monday, May 5th. Citigroup’s dividend payout ratio is currently 35.39%.

About Citigroup

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.