Morningstar Investment Services LLC Sells 5,450 Shares of Citigroup Inc. (NYSE:C)

Morningstar Investment Services LLC trimmed its holdings in Citigroup Inc. (NYSE:C - Free Report) by 46.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 6,337 shares of the company's stock after selling 5,450 shares during the period. Morningstar Investment Services LLC's holdings in Citigroup were worth $450,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after buying an additional 12,499 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Citigroup during the fourth quarter worth about $274,000. Whittier Trust Co. increased its position in shares of Citigroup by 14.6% during the fourth quarter. Whittier Trust Co. now owns 41,212 shares of the company's stock worth $2,900,000 after purchasing an additional 5,260 shares in the last quarter. Summit Global Investments increased its position in shares of Citigroup by 104.3% during the fourth quarter. Summit Global Investments now owns 62,604 shares of the company's stock worth $4,407,000 after purchasing an additional 31,964 shares in the last quarter. Finally, Millstone Evans Group LLC acquired a new stake in shares of Citigroup during the fourth quarter worth about $99,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Price Performance

Citigroup stock traded up $1.57 during trading hours on Tuesday, reaching $94.22. 8,857,629 shares of the stock were exchanged, compared to its average volume of 14,666,917. The company has a market cap of $175.98 billion, a P/E ratio of 13.92, a price-to-earnings-growth ratio of 0.67 and a beta of 1.34. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $94.47. The stock has a 50 day moving average of $80.43 and a two-hundred day moving average of $75.52.

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

Citigroup Increases Dividend

The business also recently declared 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. The ex-dividend date is Monday, August 4th. This represents a $2.40 annualized dividend and a yield of 2.55%. This is a positive change from Citigroup's previous quarterly dividend of $0.56. Citigroup's dividend payout ratio is presently 33.09%.

Insider Activity

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total transaction of $271,200.00. Following the sale, the director directly owned 2,140 shares of the company's stock, valued at $193,456. This represents 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 this link. Also, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the sale, the director directly owned 13,048 shares in the company, valued at approximately $890,656.48. The trade was a 25.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on C shares. Wall Street Zen raised Citigroup from a "sell" rating to a "hold" rating in a research note on Friday. Royal Bank Of Canada dropped their price objective on Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. TD Cowen increased their price target on Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods reiterated a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. Finally, Evercore ISI set a $77.00 price target on Citigroup in a report on Monday, July 7th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Citigroup presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.46.

Citigroup Company 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.