Meyer Handelman Co. Has $3.23 Million Stock Holdings in Citigroup Inc. (NYSE:C)

Meyer Handelman Co. decreased its position in shares of Citigroup Inc. (NYSE:C) by 16.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,820 shares of the company’s stock after selling 8,830 shares during the period. Meyer Handelman Co.’s holdings in Citigroup were worth $3,225,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Citigroup by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock valued at $2,492,238,000 after purchasing an additional 791,758 shares in the last quarter. Franklin Resources Inc. raised its holdings in Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after buying an additional 4,680,713 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Citigroup by 3.2% in the third quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock worth $1,813,544,000 after buying an additional 911,694 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Citigroup by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock worth $1,105,999,000 after acquiring an additional 913,231 shares in the last quarter. Finally, Greenhaven Associates Inc. increased its holdings in shares of Citigroup by 1.5% during the 3rd quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock valued at $1,056,900,000 after acquiring an additional 242,545 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of C stock opened at $73.59 on Wednesday. The company has a market capitalization of $139.18 billion, a P/E ratio of 21.33, a P/E/G ratio of 0.80 and a beta of 1.43. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup Inc. has a 12 month low of $50.51 and a 12 month high of $74.29. The stock has a 50 day moving average of $70.60 and a two-hundred day moving average of $65.22.

Citigroup (NYSE:C) last posted its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The firm had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.84 earnings per share. As a group, equities analysts expect that Citigroup Inc. will post 5.86 EPS for the current year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.04%. Citigroup’s payout ratio is currently 64.93%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on C shares. Bank of America boosted their target price on Citigroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Piper Sandler boosted their price objective on shares of Citigroup from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Oppenheimer lowered their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Morgan Stanley cut their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Finally, Evercore ISI raised their price target on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $80.13.

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.