Mitsubishi UFJ Asset Management Co. Ltd. Purchases 324,987 Shares of Citigroup Inc. (NYSE:C)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Citigroup by 10.8%, acquiring an additional 324,987 shares and holding a total of 3,347,540 shares valued at approximately $237.64 million.
• Citigroup reported earnings of $1.96 per share, surpassing analysts' expectations of $1.61, and indicated a revenue increase of 8.2% year-over-year for the quarter.
• The company announced a quarterly dividend increase to $0.60, set to be paid on August 22nd, reflecting a commitment to returning value to shareholders.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Citigroup Inc. (NYSE:C - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,347,540 shares of the company's stock after acquiring an additional 324,987 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of Citigroup worth $237,642,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the sale, the director owned 2,140 shares in the company, valued at $193,456. The trade was a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on C. Royal Bank Of Canada dropped their price objective on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. The Goldman Sachs Group increased their price target on Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Dbs Bank upgraded Citigroup from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Morgan Stanley lifted their price target on Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Finally, UBS Group restated a "neutral" rating and issued a $89.00 price objective on shares of Citigroup in a research report on Tuesday, July 15th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.54.

Citigroup Stock Up 0.8%

Shares of NYSE C opened at $92.24 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. The company has a 50-day moving average of $85.40 and a 200 day moving average of $77.25. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $96.90. The stock has a market cap of $172.28 billion, a PE ratio of 13.63, a P/E/G ratio of 0.79 and a beta of 1.38.

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

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be paid a $0.60 dividend. This is a positive change from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Monday, August 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.6%. Citigroup's dividend payout ratio is currently 35.45%.

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.

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