Gyroscope Capital Management Group LLC Lowers Position in Citigroup Inc (NYSE:C)

Gyroscope Capital Management Group LLC lessened its holdings in Citigroup Inc (NYSE:C) by 3.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 107,143 shares of the financial services provider’s stock after selling 3,536 shares during the period. Citigroup accounts for approximately 2.8% of Gyroscope Capital Management Group LLC’s portfolio, making the stock its 14th largest holding. Gyroscope Capital Management Group LLC’s holdings in Citigroup were worth $7,146,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Personal Wealth Partners purchased a new stake in Citigroup during the second quarter valued at about $27,000. Mcmillion Capital Management Inc. purchased a new stake in Citigroup during the second quarter valued at about $31,000. MRA Associates USA LLC purchased a new stake in Citigroup during the second quarter valued at about $34,000. Bray Capital Advisors raised its position in Citigroup by 257.4% during the second quarter. Bray Capital Advisors now owns 486 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 350 shares in the last quarter. Finally, Next Capital Management LLC purchased a new stake in Citigroup during the second quarter valued at about $38,000. Institutional investors own 76.66% of the company’s stock.

Shares of C traded up $1.93 during trading hours on Friday, hitting $70.55. The company had a trading volume of 880,941 shares, compared to its average volume of 12,621,599. The firm has a market cap of $155.02 billion, a P/E ratio of 10.62, a P/E/G ratio of 0.72 and a beta of 1.80. The stock’s 50 day moving average price is $67.01 and its 200 day moving average price is $67.26. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.40. Citigroup Inc has a 52-week low of $48.42 and a 52-week high of $73.08.

Citigroup (NYSE:C) last posted its earnings results on Monday, July 15th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.17. The company had revenue of $18.76 billion for the quarter, compared to analysts’ expectations of $18.49 billion. Citigroup had a return on equity of 10.10% and a net margin of 18.24%. Citigroup’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm earned $1.63 earnings per share. On average, research analysts expect that Citigroup Inc will post 7.53 EPS for the current fiscal year.

Several research analysts have recently commented on C shares. ValuEngine upgraded Citigroup from a “sell” rating to a “hold” rating in a report on Monday. JPMorgan Chase & Co. decreased their price objective on Citigroup from $81.00 to $77.50 and set an “overweight” rating on the stock in a report on Thursday. Morgan Stanley set a $78.00 price objective on Citigroup and gave the stock a “buy” rating in a report on Friday, August 9th. Barclays lifted their price objective on Citigroup from $83.00 to $86.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Finally, Berenberg Bank set a $78.00 price objective on Citigroup and gave the stock a “buy” rating in a report on Monday, June 17th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Citigroup currently has a consensus rating of “Buy” and an average price target of $79.73.

In related news, insider Michael Whitaker sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $62.03, for a total value of $465,225.00. Following 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 can be accessed through the SEC website. 0.09% of the stock is owned by company insiders.

About Citigroup

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).

Further Reading: What is Green Investing?

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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