Citigroup Inc (NYSE:C) Shares Sold by QV Investors Inc.

QV Investors Inc. reduced its holdings in Citigroup Inc (NYSE:C) by 37.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 388,959 shares of the financial services provider’s stock after selling 231,458 shares during the quarter. Citigroup makes up about 3.7% of QV Investors Inc.’s portfolio, making the stock its 9th largest holding. QV Investors Inc.’s holdings in Citigroup were worth $27,238,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Rehmann Capital Advisory Group increased its position in shares of Citigroup by 103.1% during the first quarter. Rehmann Capital Advisory Group now owns 4,389 shares of the financial services provider’s stock worth $273,000 after buying an additional 2,228 shares during the period. HighPoint Advisor Group LLC increased its position in shares of Citigroup by 24.5% during the fourth quarter. HighPoint Advisor Group LLC now owns 7,878 shares of the financial services provider’s stock worth $507,000 after buying an additional 1,552 shares during the period. Strategy Asset Managers LLC acquired a new stake in shares of Citigroup during the first quarter worth $55,000. Sanders Morris Harris LLC acquired a new stake in shares of Citigroup during the second quarter worth $514,000. Finally, Front Barnett Associates LLC boosted its stake in Citigroup by 0.4% during the first quarter. Front Barnett Associates LLC now owns 134,044 shares of the financial services provider’s stock worth $8,340,000 after acquiring an additional 551 shares in the last quarter. Hedge funds and other institutional investors own 76.05% of the company’s stock.

Shares of Citigroup stock traded down $0.32 during trading hours on Wednesday, reaching $71.39. The company’s stock had a trading volume of 2,900,388 shares, compared to its average volume of 11,693,015. Citigroup Inc has a one year low of $48.42 and a one year high of $75.24. The stock has a market cap of $166.87 billion, a P/E ratio of 10.73, a P/E/G ratio of 0.78 and a beta of 1.74. The business has a fifty day simple moving average of $70.07. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.40.

Citigroup (NYSE:C) last released its quarterly earnings data on Monday, July 15th. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.17. Citigroup had a net margin of 18.24% and a return on equity of 10.10%. The firm had revenue of $18.76 billion for the quarter, compared to analyst estimates of $18.49 billion. During the same period last year, the firm earned $1.63 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, equities analysts forecast that Citigroup Inc will post 7.55 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.86%. This is a positive change from Citigroup’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 2nd. Citigroup’s dividend payout ratio (DPR) is 27.07%.

Several research analysts recently issued reports on the stock. Morgan Stanley lowered shares of GasLog Partners LP Unit from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $23.00 to $18.00 in a research note on Tuesday, April 16th. Goldman Sachs Group raised shares of UCB S A/ADR from a “neutral” rating to a “buy” rating in a research note on Thursday, May 30th. Bank of America lowered shares of Citigroup to a “hold” rating in a research note on Friday, July 26th. Wells Fargo & Co set a $90.00 target price on shares of Citigroup and gave the stock a “buy” rating in a research note on Friday, May 3rd. Finally, Berenberg Bank lowered shares of to a “hold” rating and cut their target price for the stock from GBX 283 ($3.70) to GBX 103 ($1.35) in a research note on Monday, June 17th. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Citigroup presently has a consensus rating of “Buy” and a consensus price target of $79.57.

About Citigroup

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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