Citigroup Inc (NYSE:C) Stake Decreased by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC lowered its position in Citigroup Inc (NYSE:C) by 8.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,130,305 shares of the financial services provider’s stock after selling 107,320 shares during the quarter. Citigroup comprises about 4.1% of Cornerstone Investment Partners LLC’s portfolio, making the stock its 6th largest position. Cornerstone Investment Partners LLC owned 0.05% of Citigroup worth $57,759,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Public Investment Fund acquired a new stake in Citigroup during the 1st quarter valued at approximately $521,979,000. Sanders Capital LLC lifted its position in Citigroup by 58.9% in the first quarter. Sanders Capital LLC now owns 12,920,584 shares of the financial services provider’s stock valued at $629,393,000 after buying an additional 4,791,539 shares during the last quarter. SG Americas Securities LLC lifted its position in Citigroup by 133.7% in the second quarter. SG Americas Securities LLC now owns 529,591 shares of the financial services provider’s stock valued at $27,062,000 after buying an additional 2,098,850 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Citigroup by 78.8% during the first quarter. Canada Pension Plan Investment Board now owns 4,545,254 shares of the financial services provider’s stock worth $191,446,000 after buying an additional 2,003,093 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Citigroup by 135.8% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,339,092 shares of the financial services provider’s stock worth $140,643,000 after buying an additional 1,923,000 shares during the period. 77.29% of the stock is currently owned by institutional investors and hedge funds.

Shares of C traded down $0.35 during mid-day trading on Friday, reaching $50.01. The company had a trading volume of 22,488,389 shares, compared to its average volume of 20,471,188. Citigroup Inc has a twelve month low of $32.00 and a twelve month high of $83.11. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.98 and a quick ratio of 0.99. The company’s 50-day moving average is $51.41 and its 200-day moving average is $55.63. The company has a market capitalization of $104.11 billion, a P/E ratio of 8.67, a P/E/G ratio of 1.47 and a beta of 1.82.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, July 14th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.03. Citigroup had a return on equity of 7.40% and a net margin of 13.64%. The business had revenue of $19.77 billion during the quarter, compared to analysts’ expectations of $19.06 billion. During the same period in the prior year, the firm posted $1.95 EPS. Citigroup’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts expect that Citigroup Inc will post 3.25 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 3rd will be issued a $0.51 dividend. The ex-dividend date is Friday, July 31st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.08%. Citigroup’s payout ratio is presently 26.91%.

A number of analysts recently weighed in on C shares. Seaport Global Securities started coverage on shares of Citigroup in a research note on Wednesday, July 8th. They set a “buy” rating and a $65.00 target price on the stock. Standpoint Research downgraded Citigroup from a “buy” rating to a “hold” rating in a report on Tuesday, June 9th. Wells Fargo & Co boosted their price target on Citigroup from $60.00 to $72.00 in a report on Friday, June 5th. Credit Suisse Group reiterated a “buy” rating and issued a $75.00 price target on shares of Citigroup in a report on Sunday, April 19th. Finally, ValuEngine upgraded Citigroup from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $74.03.

Citigroup Profile

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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