Chescapmanager LLC Acquires Shares of 165,076 Citigroup Inc. (NYSE:C)

Chescapmanager LLC acquired a new stake in shares of Citigroup Inc. (NYSE:C - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 165,076 shares of the company's stock, valued at approximately $11,620,000. Citigroup comprises approximately 1.2% of Chescapmanager LLC's holdings, making the stock its 19th biggest position.

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

Citigroup Price Performance

Shares of C traded down $0.25 during midday trading on Friday, reaching $71.39. The stock had a trading volume of 8,938,912 shares, compared to its average volume of 14,423,227. The company has a market capitalization of $134.37 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The company's 50-day moving average is $67.56 and its 200 day moving average is $71.51.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $21.60 billion for the quarter, compared to analysts' expectations of $21.34 billion. On average, equities analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup announced that its Board of Directors has authorized a share buyback program on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.14%. Citigroup's dividend payout ratio (DPR) is currently 35.39%.

Insider Transactions at Citigroup

In other news, COO Anand Selvakesari sold 30,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 229,180 shares of the company's stock, valued at approximately $18,586,498. This represents a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the completion of the sale, the insider now directly owns 109,780 shares in the company, valued at $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,007 shares of company stock worth $8,824,653. Company insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

C has been the topic of several research analyst reports. Morgan Stanley dropped their price objective on Citigroup from $110.00 to $109.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Bank of America decreased their price objective on Citigroup from $90.00 to $89.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. The Goldman Sachs Group dropped their price objective on shares of Citigroup from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th. Evercore ISI reduced their target price on shares of Citigroup from $79.00 to $76.00 and set an "in-line" rating for the company in a research note on Tuesday, April 1st. Finally, StockNews.com cut shares of Citigroup from a "buy" rating to a "hold" rating in a research note on Sunday, March 30th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Citigroup presently has an average rating of "Moderate Buy" and a consensus price target of $84.04.

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.