Meiji Yasuda Life Insurance Co Buys 6,637 Shares of Citigroup Inc. (NYSE:C)

Meiji Yasuda Life Insurance Co lifted its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 20.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,274 shares of the company's stock after buying an additional 6,637 shares during the period. Meiji Yasuda Life Insurance Co's holdings in Citigroup were worth $2,764,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of C. Blake Schutter Theil Wealth Advisors LLC grew its position in shares of Citigroup by 1.6% in the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company's stock valued at $608,000 after buying an additional 135 shares during the last quarter. Hemington Wealth Management increased its position in Citigroup by 10.9% during the 4th quarter. Hemington Wealth Management now owns 1,387 shares of the company's stock valued at $97,000 after purchasing an additional 136 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in Citigroup by 3.4% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company's stock worth $289,000 after purchasing an additional 137 shares during the last quarter. Rakuten Securities Inc. lifted its position in shares of Citigroup by 2.4% in the 4th quarter. Rakuten Securities Inc. now owns 5,953 shares of the company's stock worth $419,000 after purchasing an additional 139 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Citigroup by 1.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company's stock valued at $592,000 after purchasing an additional 140 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.

Citigroup Stock Performance

Shares of C stock traded down $0.38 during trading hours on Monday, reaching $70.21. The company had a trading volume of 10,316,914 shares, compared to its average volume of 14,419,152. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The business has a fifty day moving average price of $68.24 and a 200-day moving average price of $71.30. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The firm has a market cap of $132.15 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 0.64 and a beta of 1.30.

Citigroup (NYSE:C - Get Free Report) last announced its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, beating 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 business had revenue of $21.60 billion during the quarter, compared to analyst estimates of $21.34 billion. Sell-side analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup declared that its board has approved a stock buyback plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to reacquire up to 13.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its shares are undervalued.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Monday, May 5th. Citigroup's payout ratio is 35.39%.

Insiders Place Their Bets

In other news, CFO Mark Mason sold 58,465 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $83.21, for a total value of $4,864,872.65. Following the transaction, the chief financial officer now owns 217,331 shares of the company's stock, valued at approximately $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the transaction, the chief operating officer now directly owns 229,180 shares of the company's stock, valued at $18,586,498. This trade represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 108,007 shares of company stock worth $8,824,653 over the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Oppenheimer lifted their price objective on shares of Citigroup from $91.00 to $94.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Bank of America cut their price target on shares of Citigroup from $90.00 to $89.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. The Goldman Sachs Group lowered their price objective on shares of Citigroup from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, March 19th. Truist Financial decreased their price objective on Citigroup from $84.00 to $79.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $77.00 price target (down from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $84.04.

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.