ING Groep NV reduced its stake in Citigroup Inc. (NYSE:C) by 79.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 130,641 shares of the financial services provider’s stock after selling 512,116 shares during the period. ING Groep NV’s holdings in Citigroup were worth $5,540,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. NN Investment Partners Holdings N.V. acquired a new stake in shares of Citigroup during the first quarter valued at $199,573,000. Orbis Allan Gray Ltd acquired a new stake in shares of Citigroup during the first quarter valued at $181,532,000. Prudential Financial Inc. boosted its stake in shares of Citigroup by 73.6% in the first quarter. Prudential Financial Inc. now owns 9,425,364 shares of the financial services provider’s stock valued at $393,510,000 after buying an additional 3,995,730 shares in the last quarter. Hexavest Inc. acquired a new stake in shares of Citigroup during the second quarter valued at $85,848,000. Finally, Institutional Capital LLC boosted its stake in shares of Citigroup by 26.3% in the first quarter. Institutional Capital LLC now owns 7,652,765 shares of the financial services provider’s stock valued at $319,503,000 after buying an additional 1,591,228 shares in the last quarter. Institutional investors own 71.41% of the company’s stock.
Shares of Citigroup Inc. (NYSE:C) traded down 0.42% during trading on Monday, reaching $47.03. 13,819,786 shares of the company traded hands. The company has a market capitalization of $136.64 billion, a price-to-earnings ratio of 9.95 and a beta of 1.86. Citigroup Inc. has a 1-year low of $34.52 and a 1-year high of $56.46. The stock’s 50 day moving average is $46.92 and its 200 day moving average is $44.71.
Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.14. Citigroup had a return on equity of 7.24% and a net margin of 17.97%. The business earned $17.55 billion during the quarter, compared to the consensus estimate of $17.47 billion. During the same period in the previous year, the company posted $1.45 earnings per share. The business’s revenue for the quarter was down 9.9% on a year-over-year basis. On average, analysts forecast that Citigroup Inc. will post $4.61 EPS for the current year.
Several equities research analysts recently weighed in on C shares. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $63.00 price target (down previously from $70.00) on shares of Citigroup in a research report on Wednesday, July 6th. Vetr cut shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $48.04 price objective on the stock. in a research report on Monday, June 27th. Societe Generale cut shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Tuesday, September 13th. Jefferies Group reiterated a “buy” rating on shares of Citigroup in a research report on Monday, August 1st. Finally, Drexel Hamilton reiterated a “buy” rating and set a $65.00 price objective on shares of Citigroup in a research report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the stock. Citigroup 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 business’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $44.35, for a total transaction of $360,210.70. Following the completion of the sale, the insider now owns 35,042 shares in the company, valued at $1,554,112.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.13% of the company’s stock.
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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