Cramer Rosenthal Mcglynn LLC Lowers Stock Holdings in Citigroup Inc. (NYSE:C)

by · The Markets Daily

Cramer Rosenthal Mcglynn LLC cut its holdings in Citigroup Inc. (NYSE:C – Free Report) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,929 shares of the company’s stock after selling 404 shares during the quarter. Cramer Rosenthal Mcglynn LLC’s holdings in Citigroup were worth $2,881,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Core Alternative Capital raised its holdings in shares of Citigroup by 83.4% during the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after acquiring an additional 171 shares during the last quarter. Webster Bank N. A. raised its stake in Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after purchasing an additional 300 shares during the last quarter. Creative Capital Management Investments LLC acquired a new stake in Citigroup during the 4th quarter worth $35,000. Sierra Ocean LLC purchased a new stake in shares of Citigroup during the fourth quarter worth $37,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Citigroup during the fourth quarter worth $39,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Price Performance

Citigroup stock opened at $63.23 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $119.01 billion, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29. The company’s 50 day simple moving average is $71.47 and its 200-day simple moving average is $70.91. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74.

Citigroup (NYSE:C – Get Free Report) last released its quarterly earnings results 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 business had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. As a group, equities research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup declared that its Board of Directors has initiated a stock repurchase program on Wednesday, January 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 13.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup’s dividend payout ratio is currently 37.65%.

Insiders Place Their Bets

In related news, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the sale, the chief operating officer now directly owns 229,180 shares in the company, valued at approximately $18,586,498. This represents a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction on Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the sale, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock worth $8,523,149 over the last three months. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on C. Royal Bank of Canada lowered their price target on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating on the stock in a research report on Wednesday. Evercore ISI dropped their price target on Citigroup from $79.00 to $76.00 and set an “in-line” rating for the company in a research report on Tuesday, April 1st. Oppenheimer reduced their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Morgan Stanley dropped their target price on Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Bank of America lowered their price target on shares of Citigroup from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and an average price target of $84.61.

View Our Latest Report on C

Citigroup Company Profile

(Free Report)

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.

Read More