Morningstar Investment Services LLC Reduces Stock Holdings in Citigroup Inc (NYSE:C)

Morningstar Investment Services LLC trimmed its position in Citigroup Inc (NYSE:C) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 152,289 shares of the financial services provider’s stock after selling 3,711 shares during the quarter. Morningstar Investment Services LLC’s holdings in Citigroup were worth $10,665,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in Citigroup by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 36,542,950 shares of the financial services provider’s stock valued at $2,559,105,000 after purchasing an additional 122,127 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Citigroup by 0.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 11,309,671 shares of the financial services provider’s stock worth $792,017,000 after buying an additional 88,835 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in shares of Citigroup by 1.1% during the first quarter. Artisan Partners Limited Partnership now owns 11,033,376 shares of the financial services provider’s stock worth $686,497,000 after buying an additional 124,374 shares during the period. Sanders Capital LLC increased its stake in shares of Citigroup by 2.5% during the second quarter. Sanders Capital LLC now owns 10,354,948 shares of the financial services provider’s stock worth $818,349,000 after buying an additional 251,300 shares during the period. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Citigroup by 7.4% during the first quarter. Parametric Portfolio Associates LLC now owns 8,150,246 shares of the financial services provider’s stock worth $507,108,000 after buying an additional 559,038 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

In other news, insider Michael Whitaker sold 7,500 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $62.03, for a total transaction of $465,225.00. Following the completion of the transaction, the insider now directly owns 93,848 shares of the company’s stock, valued at approximately $5,821,391.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.09% of the stock is owned by insiders.

Shares of Citigroup stock traded down $0.30 during trading hours on Wednesday, hitting $68.68. 620,730 shares of the company were exchanged, compared to its average volume of 13,871,125. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.40. The business has a 50-day moving average of $66.03 and a 200-day moving average of $66.52. Citigroup Inc has a 1 year low of $48.42 and a 1 year high of $75.24. The stock has a market capitalization of $155.40 billion, a price-to-earnings ratio of 10.33, a P/E/G ratio of 0.75 and a beta of 1.78.

Citigroup (NYSE:C) last posted 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. The firm had revenue of $18.76 billion for the quarter, compared to analyst estimates of $18.49 billion. Citigroup had a net margin of 18.24% and a return on equity of 10.10%. Citigroup’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm posted $1.63 EPS. As a group, research analysts anticipate that Citigroup Inc will post 7.55 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a $0.51 dividend. This is an increase from Citigroup’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.04 annualized dividend and a dividend yield of 2.97%. Citigroup’s payout ratio is presently 30.68%.

C has been the subject of a number of recent research reports. Wells Fargo & Co set a $85.00 price target on shares of Citigroup and gave the stock a “buy” rating in a research note on Friday, August 16th. Bank of America lowered Citigroup to a “hold” rating in a report on Friday, July 26th. Morgan Stanley set a $78.00 price target on Citigroup and gave the company a “buy” rating in a research note on Friday, August 9th. Keefe, Bruyette & Woods upgraded Citigroup from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $74.00 to $86.00 in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. increased their price target on shares of Citigroup from $75.00 to $77.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $79.12.

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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