Cigna Investments Inc. New Takes Position in Citigroup Inc (C)

Cigna Investments Inc. New bought a new position in shares of Citigroup Inc (NYSE:C) during the fourth quarter, Holdings Channel reports. The institutional investor bought 106,527 shares of the financial services provider’s stock, valued at approximately $6,331,000. Citigroup comprises 0.7% of Cigna Investments Inc. New’s portfolio, making the stock its 24th largest position.

Other large investors also recently added to or reduced their stakes in the company. Gemmer Asset Management LLC increased its stake in Citigroup by 3.2% in the third quarter. Gemmer Asset Management LLC now owns 2,234 shares of the financial services provider’s stock worth $106,000 after buying an additional 69 shares during the last quarter. FNY Partners Fund LP acquired a new stake in Citigroup during the fourth quarter valued at about $106,000. Enterprise Financial Services Corp increased its stake in Citigroup by 44.5% in the third quarter. Enterprise Financial Services Corp now owns 2,447 shares of the financial services provider’s stock valued at $116,000 after buying an additional 753 shares in the last quarter. Patten Group Inc. increased its stake in Citigroup by 12.3% in the third quarter. Patten Group Inc. now owns 2,426 shares of the financial services provider’s stock valued at $118,000 after buying an additional 265 shares in the last quarter. Finally, Northwest Quadrant Wealth Management LLC acquired a new stake in Citigroup during the fourth quarter valued at about $124,000. Hedge funds and other institutional investors own 73.82% of the company’s stock.

Institutional Ownership by Quarter for Citigroup (NYSE:C)

Citigroup Inc (NYSE:C) opened at 58.07 on Monday. Citigroup Inc has a 12 month low of $38.31 and a 12 month high of $62.53. The company has a market cap of $160.90 billion, a price-to-earnings ratio of 12.30 and a beta of 1.68. The company has a 50-day moving average of $59.71 and a 200-day moving average of $55.11.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 18th. The financial services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.12 by $0.02. The firm earned $17 billion during the quarter, compared to analysts’ expectations of $17.26 billion. Citigroup had a return on equity of 7.09% and a net margin of 18.10%. Citigroup’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period last year, the business earned $1.06 earnings per share. Analysts predict that Citigroup Inc will post $5.18 EPS for the current year.

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Several research firms have issued reports on C. Vetr upgraded shares of Citigroup from a “sell” rating to a “hold” rating and set a $56.21 price objective for the company in a research note on Wednesday, November 30th. Deutsche Bank AG upped their target price on shares of Citigroup from $49.00 to $61.00 and gave the company a “hold” rating in a research note on Wednesday, November 30th. Jefferies Group LLC restated a “hold” rating and issued a $63.00 target price on shares of Citigroup in a research note on Thursday, February 23rd. Barclays PLC upped their target price on shares of Citigroup from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, January 3rd. Finally, Guggenheim restated a “buy” rating on shares of Citigroup in a research note on Sunday, December 4th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $60.81.

In other Citigroup news, CEO Michael Corbat sold 83,285 shares of Citigroup stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $60.14, for a total transaction of $5,008,759.90. Following the completion of the transaction, the chief executive officer now directly owns 548,060 shares of the company’s stock, valued at $32,960,328.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider W. Bradford Hu sold 10,109 shares of Citigroup stock in a transaction on Tuesday, January 31st. The shares were sold at an average price of $55.96, for a total value of $565,699.64. Following the transaction, the insider now directly owns 37,137 shares of the company’s stock, valued at $2,078,186.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 211,303 shares of company stock valued at $12,606,410. Company insiders own 0.13% of the company’s stock.

About Citigroup

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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