Daiwa SB Investments Ltd. lowered its stake in Citigroup Inc. (NYSE:C) by 11.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,190 shares of the financial services provider’s stock after selling 1,900 shares during the quarter. Daiwa SB Investments Ltd.’s holdings in Citigroup were worth $1,016,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of C. BlackRock Inc. lifted its stake in shares of Citigroup by 2,718.7% in the 1st quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock valued at $11,749,573,000 after purchasing an additional 189,447,104 shares during the period. FMR LLC lifted its stake in shares of Citigroup by 18.2% in the 1st quarter. FMR LLC now owns 105,742,815 shares of the financial services provider’s stock valued at $6,325,535,000 after purchasing an additional 16,257,931 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Citigroup by 31.3% in the 1st quarter. Bank of New York Mellon Corp now owns 43,167,279 shares of the financial services provider’s stock valued at $2,582,269,000 after purchasing an additional 10,294,403 shares during the period. Harris Associates L P lifted its stake in shares of Citigroup by 25.9% in the 1st quarter. Harris Associates L P now owns 41,129,780 shares of the financial services provider’s stock valued at $2,460,384,000 after purchasing an additional 8,464,257 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Citigroup by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 183,198,941 shares of the financial services provider’s stock valued at $10,958,960,000 after purchasing an additional 4,391,347 shares during the period. 75.40% of the stock is currently owned by institutional investors.

A number of research analysts have recently weighed in on C shares. Credit Suisse Group reissued an “outperform” rating and issued a $76.00 price target (up previously from $70.00) on shares of Citigroup in a research note on Wednesday, July 26th. BidaskClub cut shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Deutsche Bank AG restated a “hold” rating on shares of Citigroup in a research report on Monday, July 3rd. HSBC Holdings plc started coverage on shares of Citigroup in a research report on Tuesday, July 11th. They issued a “hold” rating and a $71.00 price objective for the company. Finally, Zacks Investment Research cut shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, June 19th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $69.79.

In other Citigroup news, insider Jeffrey R. Walsh sold 5,000 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $68.97, for a total value of $344,850.00. Following the completion of the sale, the insider now directly owns 56,394 shares of the company’s stock, valued at approximately $3,889,494.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Francisco Aristeguieta sold 40,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $67.55, for a total transaction of $2,702,000.00. Following the completion of the sale, the chief executive officer now directly owns 77,570 shares of the company’s stock, valued at $5,239,853.50. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Shares of Citigroup Inc. (C) traded down 0.29% during trading on Friday, hitting $69.04. The stock had a trading volume of 18,360,910 shares. The company has a market capitalization of $188.10 billion, a P/E ratio of 13.82 and a beta of 1.47. The firm has a 50-day moving average of $67.87 and a 200 day moving average of $63.51. Citigroup Inc. has a 1-year low of $45.16 and a 1-year high of $69.86.

Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.07. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The business had revenue of $17.90 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same period in the prior year, the firm posted $1.24 EPS. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities research analysts predict that Citigroup Inc. will post $5.21 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has initiated a share buyback program on Wednesday, June 28th that permits the company to repurchase $15.60 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 8.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Monday, August 7th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.85%. This is an increase from Citigroup’s previous quarterly dividend of $0.16. The ex-dividend date was Thursday, August 3rd. Citigroup’s dividend payout ratio is presently 25.55%.

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Citigroup Company Profile

Citigroup Inc (Citi) is a financial services holding company. The Company’s whose 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.

Institutional Ownership by Quarter for Citigroup (NYSE:C)

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