Mill Creek Capital Advisors LLC Makes New Investment in Citigroup Inc. $C

Mill Creek Capital Advisors LLC purchased a new position in Citigroup Inc. (NYSE:C) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,951 shares of the company’s stock, valued at approximately $210,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its stake in Citigroup by 179.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,534,297 shares of the company’s stock valued at $1,031,790,000 after acquiring an additional 9,334,038 shares in the last quarter. Nuveen LLC purchased a new position in Citigroup during the 1st quarter valued at about $578,100,000. Northern Trust Corp grew its stake in Citigroup by 13.9% during the 4th quarter. Northern Trust Corp now owns 20,232,550 shares of the company’s stock valued at $1,424,169,000 after acquiring an additional 2,467,958 shares in the last quarter. GAMMA Investing LLC grew its stake in Citigroup by 7,899.8% during the 1st quarter. GAMMA Investing LLC now owns 2,430,414 shares of the company’s stock valued at $172,535,000 after acquiring an additional 2,400,033 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Citigroup by 16.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,497,812 shares of the company’s stock valued at $879,721,000 after acquiring an additional 1,794,597 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Performance

Shares of NYSE C opened at $93.66 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $96.90. The stock has a 50 day moving average of $87.83 and a 200-day moving average of $77.81. The company has a market capitalization 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.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The company had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. During the same period in the previous year, the company posted $1.52 EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, equities research analysts predict that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 4th. This is an increase from Citigroup’s previous quarterly dividend of $0.56. Citigroup’s payout ratio is 35.45%.

Insiders Place Their Bets

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of Citigroup stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the completion of the transaction, the director directly owned 2,140 shares of the company’s stock, valued at $193,456. The trade was a 58.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

C has been the subject of a number of recent analyst reports. TD Cowen upped their target price on Citigroup from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Wednesday, July 16th. UBS Group reaffirmed a “neutral” rating and set a $89.00 target price on shares of Citigroup in a research report on Tuesday, July 15th. Morgan Stanley upped their target price on Citigroup from $103.00 to $107.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Cowen initiated coverage on Citigroup in a research report on Wednesday, May 14th. They set a “hold” rating for the company. Finally, Dbs Bank raised Citigroup from a “hold” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and a consensus target price of $96.54.

About Citigroup

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.