Meyer Handelman Co. Sells 28,150 Shares of Citigroup Inc. (NYSE:C)

Meyer Handelman Co. cut its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 61.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,670 shares of the company's stock after selling 28,150 shares during the period. Meyer Handelman Co.'s holdings in Citigroup were worth $1,254,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after buying an additional 12,499 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Citigroup in the 4th quarter worth about $10,400,000. Crews Bank & Trust purchased a new position in Citigroup during the 4th quarter worth $175,000. Mediolanum International Funds Ltd bought a new position in shares of Citigroup in the fourth quarter valued at approximately $10,295,000. Finally, Caprock Group LLC grew its position in Citigroup by 27.7% during the fourth quarter. Caprock Group LLC now owns 80,628 shares of the company's stock valued at $5,675,000 after buying an additional 17,466 shares during the period. 71.72% of the stock is owned by institutional investors.

Citigroup Price Performance

Shares of Citigroup stock traded up $0.74 during trading on Tuesday, hitting $76.54. 9,794,940 shares of the company were exchanged, compared to its average volume of 14,527,456. The stock has a market capitalization of $142.96 billion, a price-to-earnings ratio of 12.86, a P/E/G ratio of 0.64 and a beta of 1.30. The firm has a 50 day moving average price of $68.94 and a 200 day moving average price of $72.55. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. 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 - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, topping 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 firm had revenue of $21.60 billion during the quarter, compared to analysts' expectations of $21.34 billion. On average, equities analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 2.93%. Citigroup's payout ratio is 35.39%.

Analyst Ratings Changes

Several analysts have recently weighed in on C shares. Cowen started coverage on shares of Citigroup in a research report on Wednesday, May 14th. They set a "hold" rating on the stock. TD Cowen began coverage on shares of Citigroup in a research note on Thursday, May 15th. They issued a "hold" rating and a $83.00 target price on the stock. The Goldman Sachs Group dropped their price target on shares of Citigroup from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. Evercore ISI decreased their target price on Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a research note on Tuesday, April 1st. Finally, Morgan Stanley decreased their target price on shares of Citigroup from $110.00 to $109.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Citigroup has an average rating of "Moderate Buy" and a consensus target price of $83.97.

Insiders Place Their Bets

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the sale, the director now owns 13,048 shares of the company's stock, valued at $890,656.48. The trade was a 25.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.08% of the stock is currently owned by company insiders.

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.