Quantitative Systematic Strategies LLC raised its stake in shares of Citigroup Inc. (NYSE:C) by 121.6% during the second quarter, Holdings Channel reports. The institutional investor owned 14,506 shares of the financial services provider’s stock after buying an additional 7,961 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Citigroup were worth $611,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. BNP Paribas Arbitrage SA increased its position in Citigroup by 6.5% in the second quarter. BNP Paribas Arbitrage SA now owns 12,083,668 shares of the financial services provider’s stock valued at $206,341,000 after buying an additional 738,298 shares during the last quarter. Boston Advisors LLC purchased a new position in Citigroup during the second quarter valued at about $10,755,000. Sanders Capital LLC increased its position in Citigroup by 0.6% in the second quarter. Sanders Capital LLC now owns 16,006,239 shares of the financial services provider’s stock valued at $693,526,000 after buying an additional 89,414 shares during the last quarter. Legal & General Group Plc increased its position in Citigroup by 2.1% in the first quarter. Legal & General Group Plc now owns 14,126,657 shares of the financial services provider’s stock valued at $589,847,000 after buying an additional 289,283 shares during the last quarter. Finally, Orbis Allan Gray Ltd purchased a new position in Citigroup during the first quarter valued at about $181,532,000. Hedge funds and other institutional investors own 71.41% of the company’s stock.
Shares of Citigroup Inc. (NYSE:C) traded down 0.68% during mid-day trading on Thursday, hitting $48.37. 15,176,923 shares of the stock were exchanged. The company has a 50-day moving average of $47.38 and a 200 day moving average of $44.98. The stock has a market cap of $140.53 billion, a PE ratio of 10.24 and a beta of 1.86. Citigroup Inc. has a one year low of $34.52 and a one year high of $56.46.
Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.14. The company earned $17.55 billion during the quarter, compared to analysts’ expectations of $17.47 billion. Citigroup had a return on equity of 7.24% and a net margin of 17.97%. Citigroup’s revenue was down 9.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.45 EPS. On average, equities analysts predict that Citigroup Inc. will post $4.61 earnings per share for the current year.
Several equities research analysts have weighed in on the company. Jefferies Group reaffirmed a “buy” rating on shares of Citigroup in a research report on Sunday, July 10th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Citigroup in a research report on Sunday, June 26th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Citigroup in a research report on Saturday, July 9th. Vetr raised Citigroup from a “buy” rating to a “strong-buy” rating and set a $47.21 price target on the stock in a research report on Tuesday, July 5th. Finally, BMO Capital Markets restated a “buy” rating and set a $66.00 target price (up from $63.00) on shares of Citigroup in a research report on Monday, July 18th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $54.76.
In related news, insider Joseph Michael Murray sold 8,122 shares of the 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 directly owns 35,042 shares of the company’s stock, valued at approximately $1,554,112.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate 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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