Paloma Partners Management Co Purchases 562,647 Shares of Citigroup Inc (NYSE:C)

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Paloma Partners Management Co boosted its stake in shares of Citigroup Inc (NYSE:C) by 1,819.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 593,569 shares of the financial services provider’s stock after purchasing an additional 562,647 shares during the quarter. Citigroup comprises approximately 0.7% of Paloma Partners Management Co’s investment portfolio, making the stock its 16th biggest position. Paloma Partners Management Co’s holdings in Citigroup were worth $41,568,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Comerica Securities Inc. increased its position in shares of Citigroup by 22.0% in the 4th quarter. Comerica Securities Inc. now owns 12,874 shares of the financial services provider’s stock worth $670,000 after purchasing an additional 2,324 shares during the last quarter. Ironwood Wealth Management LLC. increased its position in shares of Citigroup by 34.4% in the 1st quarter. Ironwood Wealth Management LLC. now owns 1,524 shares of the financial services provider’s stock worth $95,000 after purchasing an additional 390 shares during the last quarter. Cornerstone Advisors Inc. increased its position in shares of Citigroup by 21.2% in the 1st quarter. Cornerstone Advisors Inc. now owns 5,948 shares of the financial services provider’s stock worth $370,000 after purchasing an additional 1,042 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Citigroup by 11.2% in the 1st quarter. Jones Financial Companies Lllp now owns 195,961 shares of the financial services provider’s stock worth $12,192,000 after purchasing an additional 19,748 shares during the last quarter. Finally, South Dakota Investment Council increased its position in shares of Citigroup by 10.5% in the 1st quarter. South Dakota Investment Council now owns 984,792 shares of the financial services provider’s stock worth $61,274,000 after purchasing an additional 93,406 shares during the last quarter. 76.56% of the stock is owned by hedge funds and other institutional investors.

Shares of C stock traded down $0.39 during trading hours on Thursday, reaching $69.70. 726,721 shares of the stock traded hands, compared to its average volume of 12,737,432. Citigroup Inc has a 1-year low of $48.42 and a 1-year high of $75.24. The business has a fifty day moving average price of $65.71 and a 200 day moving average price of $66.71. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $158.59 billion, a PE ratio of 10.48, a PEG ratio of 0.76 and a beta of 1.78.

Citigroup (NYSE:C) last released its quarterly earnings results on Monday, July 15th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.78 by $0.17. Citigroup had a net margin of 18.24% and a return on equity of 10.10%. The business had revenue of $18.76 billion for the quarter, compared to analyst estimates of $18.49 billion. During the same quarter in the previous year, the business earned $1.63 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. Research analysts expect that Citigroup Inc will post 7.53 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.93%. This is an increase from Citigroup’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, August 2nd. Citigroup’s payout ratio is currently 30.68%.

Several equities research analysts have recently weighed in on C shares. ValuEngine downgraded shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Morgan Stanley set a $78.00 price target on shares of Citigroup and gave the company a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. lifted their price target on shares of Citigroup from $75.00 to $77.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Goldman Sachs Group raised shares of Citigroup from a “neutral” rating to a “buy” rating and set a $64.51 price target for the company in a report on Thursday, May 30th. Finally, Keefe, Bruyette & Woods raised shares of Citigroup from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $74.00 to $86.00 in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the company. Citigroup has an average rating of “Buy” and a consensus target price of $79.12.

In other Citigroup news, insider Michael Whitaker sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $62.03, for a total value of $465,225.00. Following the completion of the sale, the insider now directly owns 93,848 shares of the company’s stock, valued at $5,821,391.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

Citigroup Company 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).

See Also: Balanced Fund

Want to see what other hedge funds are holding C? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citigroup Inc (NYSE:C).

Institutional Ownership by Quarter for Citigroup (NYSE:C)

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