Maxi Investments CY Ltd Sells 3,493 Shares of Citigroup Inc. (NYSE:C)

Key Points

• Maxi Investments CY Ltd reduced its stake in Citigroup Inc. by 10.4%, holding $2.13 million worth of shares after selling 3,493 during the first quarter.
• Several hedge funds, including Capital World Investors and GAMMA Investing LLC, significantly increased their investments in Citigroup during the fourth quarter, with Capital World Investors raising theirs by 455.2%.
• Citigroup announced a quarterly dividend increase to $0.60 per share, reflecting an annual yield of 2.6%, payable on August 22nd.

Maxi Investments CY Ltd lowered its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 10.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,050 shares of the company's stock after selling 3,493 shares during the quarter. Maxi Investments CY Ltd's holdings in Citigroup were worth $2,133,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Orion Capital Management LLC purchased a new stake in Citigroup in the 4th quarter worth about $28,000. MorganRosel Wealth Management LLC purchased a new stake in shares of Citigroup in the first quarter worth approximately $28,000. American National Bank & Trust acquired a new stake in shares of Citigroup during the first quarter worth approximately $29,000. Accent Capital Management LLC grew its position in Citigroup by 106.0% during the first quarter. Accent Capital Management LLC now owns 412 shares of the company's stock valued at $29,000 after purchasing an additional 212 shares in the last quarter. Finally, Mascagni Wealth Management Inc. acquired a new position in Citigroup in the 4th quarter valued at approximately $34,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Price Performance

Shares of C stock traded down $0.92 during mid-day trading on Thursday, reaching $91.31. The company's stock had a trading volume of 12,938,981 shares, compared to its average volume of 16,932,436. The firm's 50-day moving average is $85.72 and its two-hundred day moving average is $77.33. The company has a market cap of $170.54 billion, a P/E ratio of 13.49, a PEG ratio of 0.79 and a beta of 1.38. Citigroup Inc. has a 1-year low of $55.51 and a 1-year high of $96.90. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.99.

Citigroup (NYSE:C - Get Free Report) last posted its earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The business had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. During the same quarter last year, the company earned $1.52 EPS. Citigroup's revenue was up 8.2% on a year-over-year basis. On average, research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be given a dividend of $0.60 per share. This is an increase from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date is Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. Citigroup's dividend payout ratio is 35.45%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Dbs Bank upgraded shares of Citigroup from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Cowen started coverage on Citigroup in a research note on Wednesday, May 14th. They issued a "hold" rating on the stock. Royal Bank Of Canada cut their price target on Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Bank of America boosted their price target on Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Finally, Keefe, Bruyette & Woods restated a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $96.54.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the sale, the director owned 2,140 shares of the company's stock, valued at approximately $193,456. This trade represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.08% of the stock is 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.