Prospector Partners LLC Sells 50,889 Shares of Citigroup Inc. (NYSE:C)

Key Points

• Prospector Partners LLC reduced its stake in Citigroup Inc. by 20.6%, selling 50,889 shares to hold a total of 196,506 shares, valued at approximately $13.95 million.
• Citigroup reported $1.96 earnings per share for the most recent quarter, exceeding analyst expectations, alongside revenues of $21.67 billion which marked an 8.2% increase year-over-year.
• The company declared a quarterly dividend of $0.60 per share, an increase from the previous dividend of $0.56, reflecting a 2.6% yield based on current stock prices.

Prospector Partners LLC decreased its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 20.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 196,506 shares of the company's stock after selling 50,889 shares during the period. Citigroup makes up about 1.6% of Prospector Partners LLC's investment portfolio, making the stock its 25th largest holding. Prospector Partners LLC's holdings in Citigroup were worth $13,950,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Orion Capital Management LLC acquired a new position in Citigroup during the fourth quarter worth $28,000. MorganRosel Wealth Management LLC acquired a new position in Citigroup during the first quarter worth $28,000. American National Bank & Trust acquired a new position in Citigroup during the first quarter worth $29,000. Accent Capital Management LLC boosted its holdings in Citigroup by 106.0% during the first quarter. Accent Capital Management LLC now owns 412 shares of the company's stock worth $29,000 after purchasing an additional 212 shares during the last quarter. Finally, Mascagni Wealth Management Inc. acquired a new position in Citigroup during the fourth quarter worth $34,000. Institutional investors own 71.72% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on C. Barclays increased their target price on shares of Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods restated a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. Wall Street Zen upgraded shares of Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Dbs Bank upgraded shares of Citigroup from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Finally, UBS Group reiterated a "neutral" rating and issued a $89.00 price target on shares of Citigroup in a research note on Tuesday, July 15th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Citigroup has a consensus rating of "Moderate Buy" and a consensus target price of $96.54.

Insider Buying and Selling at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is owned by insiders.

Citigroup Stock Performance

Shares of C stock opened at $93.66 on Friday. The stock has a market cap of $172.42 billion, a P/E ratio of 13.83, a P/E/G ratio of 0.81 and a beta of 1.38. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.99. The company has a fifty day moving average price of $87.83 and a two-hundred day moving average price of $77.84. Citigroup Inc. has a one year low of $55.51 and a one year high of $96.90.

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

Citigroup Increases Dividend

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

Citigroup 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.

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