Harbour Capital Advisors LLC Has $326,000 Position in Citigroup Inc. (C)

Harbour Capital Advisors LLC trimmed its holdings in shares of Citigroup Inc. (NYSE:C) by 8.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,458 shares of the financial services provider’s stock after selling 500 shares during the period. Harbour Capital Advisors LLC’s holdings in Citigroup were worth $326,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. Waldron LP raised its stake in shares of Citigroup by 21.2% in the 1st quarter. Waldron LP now owns 7,301 shares of the financial services provider’s stock valued at $436,000 after purchasing an additional 1,276 shares in the last quarter. Howard Hughes Medical Institute acquired a new stake in Citigroup during the first quarter worth about $4,487,000. Glen Harbor Capital Management LLC raised its stake in Citigroup by 39.5% during the first quarter. Glen Harbor Capital Management LLC now owns 104,874 shares of the financial services provider’s stock worth $6,274,000 after acquiring an additional 29,700 shares during the period. Mycio Wealth Partners LLC raised its stake in Citigroup by 33.0% during the first quarter. Mycio Wealth Partners LLC now owns 8,155 shares of the financial services provider’s stock worth $488,000 after acquiring an additional 2,023 shares during the period. Finally, Cubic Asset Management LLC raised its stake in Citigroup by 0.9% during the first quarter. Cubic Asset Management LLC now owns 89,644 shares of the financial services provider’s stock worth $5,363,000 after acquiring an additional 835 shares during the period. 75.40% of the stock is owned by hedge funds and other institutional investors.

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

Shares of Citigroup Inc. (NYSE C) traded down 0.23% on Friday, reaching $69.08. 6,658,002 shares of the company were exchanged. Citigroup Inc. has a 12-month low of $45.16 and a 12-month high of $69.86. The stock’s 50-day moving average is $67.83 and its 200 day moving average is $63.44. The firm has a market capitalization of $188.21 billion, a PE ratio of 13.83 and a beta of 1.47.

Citigroup (NYSE:C) last issued its earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.07. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The business had revenue of $17.90 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the prior year, the firm earned $1.24 earnings per share. Citigroup’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts forecast that Citigroup Inc. will post $5.21 EPS for the current year.

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

Citigroup declared that its board has authorized a stock repurchase plan on Wednesday, June 28th that permits the company to buyback $15.60 billion in shares. This buyback authorization permits the financial services provider to buy up to 8.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Several research analysts have commented on C shares. Credit Suisse Group restated an “outperform” rating and issued a $76.00 target price (up previously from $70.00) on shares of Citigroup in a research report on Wednesday, July 26th. BidaskClub cut shares of Citigroup from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Deutsche Bank AG reiterated a “hold” rating on shares of Citigroup in a 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 target for the company. Finally, Zacks Investment Research downgraded shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, June 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. Citigroup currently has a consensus rating of “Buy” and a consensus price target of $68.99.

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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