Cibc Bank USA cut its stake in shares of Citigroup Inc (NYSE:C) by 3.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,263 shares of the financial services provider’s stock after selling 1,124 shares during the period. Cibc Bank USA’s holdings in Citigroup were worth $2,025,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stelac Advisory Services LLC purchased a new position in shares of Citigroup in the first quarter valued at about $116,000. Risk Paradigm Group LLC increased its holdings in shares of Citigroup by 829.2% in the fourth quarter. Risk Paradigm Group LLC now owns 1,942 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 1,733 shares during the last quarter. Bedel Financial Consulting Inc. bought a new stake in shares of Citigroup in the first quarter worth about $133,000. Twin Tree Management LP increased its holdings in shares of Citigroup by 100.4% in the first quarter. Twin Tree Management LP now owns 2,013 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 535,686 shares during the last quarter. Finally, Clearwater Capital Advisors LLC bought a new stake in shares of Citigroup in the first quarter worth about $143,000. Institutional investors own 76.54% of the company’s stock.
Shares of Citigroup traded down $1.03, reaching $66.13, during mid-day trading on Tuesday, according to Marketbeat. 975,505 shares of the company’s stock traded hands, compared to its average volume of 17,763,692. The stock has a market cap of $171.99 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 0.96 and a beta of 1.49. Citigroup Inc has a 12 month low of $64.38 and a 12 month high of $80.70. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.01 and a current ratio of 1.01.
Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, April 13th. The financial services provider reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.07. The firm had revenue of $18.87 billion during the quarter, compared to analyst estimates of $18.89 billion. Citigroup had a positive return on equity of 8.13% and a negative net margin of 6.28%. Citigroup’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.35 earnings per share. analysts predict that Citigroup Inc will post 6.49 earnings per share for the current fiscal year.
Several equities research analysts have recently issued reports on the company. ValuEngine cut Citigroup from a “hold” rating to a “sell” rating in a report on Monday. BMO Capital Markets reaffirmed a “hold” rating and issued a $76.00 target price on shares of Citigroup in a report on Friday, April 13th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $74.00 target price on shares of Citigroup in a report on Thursday, April 5th. Morgan Stanley reduced their target price on Citigroup from $93.00 to $88.00 and set an “overweight” rating on the stock in a report on Monday, April 30th. Finally, Daiwa Capital Markets cut Citigroup from a “strong-buy” rating to a “buy” rating and set a $78.00 price objective on the stock. in a research note on Thursday, May 17th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $80.78.
In other Citigroup news, CFO John C. Gerspach sold 12,966 shares of the company’s stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $72.31, for a total transaction of $937,571.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.11% of the stock is owned by corporate insiders.
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.
Want to see what other hedge funds are holding C? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citigroup Inc (NYSE:C).
Receive News & Ratings for Citigroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citigroup and related companies with MarketBeat.com's FREE daily email newsletter.