May Hill Capital LLC Buys New Position in Citigroup Inc. (NYSE:C)

May Hill Capital LLC purchased a new position in shares of Citigroup Inc. (NYSE:C) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,614 shares of the company’s stock, valued at approximately $395,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Citigroup by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 40,587,155 shares of the company’s stock worth $2,853,484,000 after buying an additional 667,357 shares during the last quarter. StoneX Group Inc. acquired a new stake in Citigroup during the 4th quarter worth approximately $862,000. Nemes Rush Group LLC grew its stake in shares of Citigroup by 16.8% in the 4th quarter. Nemes Rush Group LLC now owns 3,561 shares of the company’s stock valued at $251,000 after purchasing an additional 513 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Citigroup by 9.3% in the fourth quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company’s stock valued at $2,311,048,000 after purchasing an additional 2,804,850 shares during the period. Finally, Family Legacy Inc. raised its stake in shares of Citigroup by 3.3% during the fourth quarter. Family Legacy Inc. now owns 7,007 shares of the company’s stock worth $513,000 after purchasing an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Insider Transactions at Citigroup

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the transaction, the chief operating officer now owns 229,180 shares of the company’s stock, valued at $18,586,498. This represents a 11.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $83.21, for a total value of $4,864,872.65. Following the sale, the chief financial officer now owns 217,331 shares in the company, valued at $18,084,112.51. This trade represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,590 shares of company stock valued at $8,523,149 over the last three months. 0.08% of the stock is currently owned by insiders.

Citigroup Price Performance

Citigroup stock opened at $71.08 on Tuesday. The firm has a market capitalization of $133.78 billion, a PE ratio of 11.95, a P/E/G ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74. The firm’s 50-day simple moving average is $76.88 and its 200 day simple moving average is $70.91. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last announced its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities research analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup announced that its board has approved a stock repurchase plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the company to reacquire up to 13.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.15%. The ex-dividend date was Monday, February 3rd. Citigroup’s payout ratio is 37.65%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on C shares. StockNews.com lowered shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Sunday. Oppenheimer dropped their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Morgan Stanley lowered their price objective on Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, Evercore ISI increased their target price on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research note on Thursday, January 16th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.50.

Citigroup 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.