Liberty Mutual Group Asset Management Inc. Trims Stake in Citigroup Inc (C)

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Liberty Mutual Group Asset Management Inc. reduced its position in Citigroup Inc (NYSE:C) by 6.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 101,926 shares of the financial services provider’s stock after selling 6,664 shares during the period. Liberty Mutual Group Asset Management Inc.’s holdings in Citigroup were worth $6,821,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of C. Elgethun Capital Management lifted its stake in shares of Citigroup by 2.7% during the 1st quarter. Elgethun Capital Management now owns 26,857 shares of the financial services provider’s stock worth $1,813,000 after purchasing an additional 694 shares during the period. Front Barnett Associates LLC grew its position in Citigroup by 0.5% in the second quarter. Front Barnett Associates LLC now owns 134,048 shares of the financial services provider’s stock valued at $8,970,000 after purchasing an additional 700 shares in the last quarter. Derby & Company Inc. grew its position in Citigroup by 6.7% in the first quarter. Derby & Company Inc. now owns 11,712 shares of the financial services provider’s stock valued at $791,000 after purchasing an additional 731 shares in the last quarter. Linscomb & Williams Inc. grew its position in Citigroup by 8.4% in the first quarter. Linscomb & Williams Inc. now owns 9,524 shares of the financial services provider’s stock valued at $643,000 after purchasing an additional 737 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its position in Citigroup by 6.2% in the first quarter. Sunbelt Securities Inc. now owns 12,738 shares of the financial services provider’s stock valued at $860,000 after purchasing an additional 749 shares in the last quarter. 74.82% of the stock is owned by institutional investors and hedge funds.

Shares of C stock opened at $71.17 on Thursday. The firm has a market capitalization of $183.09 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 0.97 and a beta of 1.45. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. Citigroup Inc has a one year low of $64.38 and a one year high of $80.70.

Citigroup (NYSE:C) last posted its earnings results on Friday, July 13th. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.08. The company had revenue of $18.47 billion during the quarter, compared to analysts’ expectations of $18.43 billion. Citigroup had a negative net margin of 5.45% and a positive return on equity of 8.78%. equities research analysts predict that Citigroup Inc will post 6.58 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 24th. Stockholders of record on Monday, August 6th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend was Friday, August 3rd. This is a boost from Citigroup’s previous quarterly dividend of $0.32. Citigroup’s dividend payout ratio (DPR) is currently 33.77%.

A number of research analysts recently weighed in on C shares. Deutsche Bank raised shares of Citigroup from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Wednesday, June 20th. TheStreet raised shares of Citigroup from a “c” rating to a “b-” rating in a research report on Monday, July 30th. ValuEngine downgraded shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Morgan Stanley decreased their target price on shares of Citigroup from $88.00 to $84.00 and set an “overweight” rating for the company in a research report on Monday, July 16th. Finally, Daiwa Capital Markets downgraded shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $78.00 target price for the company. in a research report on Thursday, May 17th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $81.65.

In other news, insider Raja Akram sold 500 shares of the firm’s stock in a transaction dated Thursday, July 19th. The shares were sold at an average price of $69.21, for a total transaction of $34,605.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Francisco Aristeguieta sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $72.36, for a total transaction of $1,085,400.00. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

About Citigroup

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.

Further Reading: What kind of dividend yield to CEF’s pay?

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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