BNP Paribas Arbitrage SA increased its stake in shares of Citigroup Inc. (NYSE:C) by 6.5% during the second quarter, Holdings Channel reports. The fund owned 12,083,668 shares of the financial services provider’s stock after buying an additional 738,298 shares during the period. Citigroup makes up 0.9% of BNP Paribas Arbitrage SA’s holdings, making the stock its 13th largest position. BNP Paribas Arbitrage SA’s holdings in Citigroup were worth $206,341,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of C. RPg Family Wealth Advisory LLC boosted its stake in Citigroup by 95.1% in the first quarter. RPg Family Wealth Advisory LLC now owns 2,926 shares of the financial services provider’s stock valued at $122,000 after buying an additional 1,426 shares during the last quarter. Parametrica Management Ltd acquired a new position in shares of Citigroup during the first quarter valued at about $238,000. Acrospire Investment Management LLC acquired a new position in shares of Citigroup during the first quarter valued at about $271,000. LGL Partners LLC acquired a new position in shares of Citigroup during the first quarter valued at about $272,000. Finally, Clear Harbor Asset Management LLC acquired a new position in shares of Citigroup during the first quarter valued at about $282,000. Hedge funds and other institutional investors own 71.41% of the company’s stock.
Shares of Citigroup Inc. (NYSE:C) traded up 3.12% during midday trading on Friday, hitting $47.23. 25,563,084 shares of the stock were exchanged. The stock’s 50-day moving average price is $46.88 and its 200-day moving average price is $44.65. Citigroup Inc. has a 1-year low of $34.52 and a 1-year high of $56.46. The firm has a market capitalization of $137.22 billion, a price-to-earnings ratio of 10.00 and a beta of 1.90.
Citigroup (NYSE:C) last issued its earnings results on Friday, July 15th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.14. Citigroup had a return on equity of 7.24% and a net margin of 17.97%. The company had revenue of $17.55 billion for the quarter, compared to analysts’ expectations of $17.47 billion. During the same period last year, the business earned $1.45 EPS. Citigroup’s quarterly revenue was down 9.9% compared to the same quarter last year. On average, analysts forecast that Citigroup Inc. will post $4.61 EPS for the current year.
Several research analysts have recently issued reports on C shares. Nomura reaffirmed a “buy” rating and issued a $55.00 target price on shares of Citigroup in a research note on Thursday. Drexel Hamilton reaffirmed a “buy” rating and issued a $65.00 target price on shares of Citigroup in a research note on Monday, July 18th. Vetr raised shares of Citigroup from a “buy” rating to a “strong-buy” rating and set a $47.21 target price on the stock in a research note on Tuesday, July 5th. TheStreet raised shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Tuesday, August 23rd. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Citigroup in a research note on Tuesday, August 16th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $55.39.
In related news, insider Joseph Michael Murray sold 8,122 shares of the stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $44.35, for a total value of $360,210.70. Following the transaction, the insider now directly owns 35,042 shares in the company, valued at approximately $1,554,112.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.13% of the stock is owned by corporate insiders.
Citigroup Inc (Citi) is a financial services holding company. The Company’s businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.
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