Leigh Baldwin & CO. LLC Makes New Investment in Citigroup Inc. (NYSE:C)

Leigh Baldwin & CO. LLC purchased a new position in Citigroup Inc. (NYSE:C) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 382,786 shares of the company’s stock, valued at approximately $26,944,000.

A number of other institutional investors also recently modified their holdings of the stock. Game Creek Capital LP raised its position in Citigroup by 68.8% during the fourth quarter. Game Creek Capital LP now owns 35,875 shares of the company’s stock valued at $2,525,000 after acquiring an additional 14,625 shares in the last quarter. Gotham Asset Management LLC lifted its stake in shares of Citigroup by 0.7% in the 4th quarter. Gotham Asset Management LLC now owns 47,770 shares of the company’s stock valued at $3,363,000 after purchasing an additional 344 shares during the last quarter. Focus Partners Wealth increased its holdings in shares of Citigroup by 301.3% during the 4th quarter. Focus Partners Wealth now owns 285,860 shares of the company’s stock valued at $20,545,000 after acquiring an additional 214,623 shares during the last quarter. Ellevest Inc. bought a new stake in Citigroup during the fourth quarter worth approximately $273,000. Finally, Ethic Inc. increased its position in Citigroup by 23.1% during the fourth quarter. Ethic Inc. now owns 124,345 shares of the company’s stock worth $8,753,000 after acquiring an additional 23,303 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Price Performance

Citigroup stock opened at $71.39 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock’s 50 day moving average is $67.56 and its 200-day moving average is $71.57. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The company has a market capitalization of $134.37 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 0.64 and a beta of 1.30.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $21.34 billion. Equities research analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup announced that its Board of Directors has approved a share buyback program on Wednesday, January 15th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 13.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.14%. The ex-dividend date is Monday, May 5th. Citigroup’s payout ratio is 35.39%.

Insiders Place Their Bets

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the company’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the sale, the director now owns 13,048 shares of the company’s stock, valued at approximately $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the sale, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This trade represents a 21.20% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,007 shares of company stock valued at $8,824,653. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

C has been the topic of a number of analyst reports. Bank of America lowered their price target on Citigroup from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. The Goldman Sachs Group reduced their target price on Citigroup from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. StockNews.com downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Sunday, March 30th. JPMorgan Chase & Co. decreased their price objective on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Finally, Morgan Stanley decreased their price target on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.