California Public Employees Retirement System Trims Position in Citigroup Inc (C)

California Public Employees Retirement System decreased its holdings in Citigroup Inc (NYSE:C) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,941,311 shares of the financial services provider’s stock after selling 32,658 shares during the quarter. Citigroup comprises 0.6% of California Public Employees Retirement System’s investment portfolio, making the stock its 24th largest holding. California Public Employees Retirement System’s holdings in Citigroup were worth $464,513,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. ValueAct Holdings L.P. raised its position in Citigroup by 1,372.7% during the 1st quarter. ValueAct Holdings L.P. now owns 16,200,000 shares of the financial services provider’s stock worth $1,093,500,000 after buying an additional 15,100,000 shares during the last quarter. FMR LLC raised its position in Citigroup by 2.1% during the 2nd quarter. FMR LLC now owns 107,588,759 shares of the financial services provider’s stock worth $7,199,839,000 after buying an additional 2,247,392 shares during the last quarter. Ceredex Value Advisors LLC purchased a new position in Citigroup during the 1st quarter worth $93,899,000. Summit Trail Advisors LLC raised its position in Citigroup by 5,933.7% during the 1st quarter. Summit Trail Advisors LLC now owns 1,103,074 shares of the financial services provider’s stock worth $1,103,000 after buying an additional 1,084,792 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in Citigroup by 89.9% during the 1st quarter. Toronto Dominion Bank now owns 1,926,828 shares of the financial services provider’s stock worth $130,033,000 after buying an additional 912,012 shares during the last quarter. Hedge funds and other institutional investors own 74.83% of the company’s stock.

In related news, insider Raja Akram sold 500 shares of the stock in a transaction dated Thursday, July 19th. The shares were sold at an average price of $69.21, for a total value of $34,605.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Francisco Aristeguieta sold 15,000 shares of the stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $72.36, for a total transaction of $1,085,400.00. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by corporate insiders.

C has been the subject of a number of analyst reports. ValuEngine downgraded shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Wednesday, August 15th. Royal Bank of Canada restated a “buy” rating and set a $85.00 price objective on shares of Citigroup in a research report on Monday, July 16th. Morgan Stanley cut their price objective on shares of Citigroup from $88.00 to $84.00 and set an “overweight” rating for the company in a research report on Monday, July 16th. Deutsche Bank upgraded shares of Citigroup from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Wednesday, June 20th. Finally, Goldman Sachs Group set a $78.00 price objective on shares of Citigroup and gave the stock a “neutral” rating in a research report on Friday, July 20th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the stock. Citigroup presently has an average rating of “Hold” and an average price target of $81.65.

NYSE:C opened at $70.54 on Monday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.00. Citigroup Inc has a fifty-two week low of $64.38 and a fifty-two week high of $80.70. The firm has a market cap of $181.22 billion, a PE ratio of 13.23, a P/E/G ratio of 0.96 and a beta of 1.45.

Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 13th. The financial services provider reported $1.62 EPS for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.08. The firm had revenue of $18.47 billion for the quarter, compared to analysts’ expectations of $18.43 billion. Citigroup had a negative net margin of 5.45% and a positive return on equity of 8.78%. equities research analysts expect that Citigroup Inc will post 6.57 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 24th. Investors of record on Monday, August 6th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.55%. This is a boost from Citigroup’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 3rd. Citigroup’s dividend payout ratio is presently 33.77%.

Citigroup Profile

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.

Further Reading: How Important is Technical Analysis of Stocks

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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