Scotia Capital Inc. lowered its position in Citigroup Inc (NYSE:C) by 3.4% during the second quarter, HoldingsChannel.com reports. The fund owned 568,838 shares of the financial services provider’s stock after selling 19,936 shares during the quarter. Scotia Capital Inc.’s holdings in Citigroup were worth $39,839,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Garrison Point Advisors LLC increased its holdings in shares of Citigroup by 2.6% during the second quarter. Garrison Point Advisors LLC now owns 5,560 shares of the financial services provider’s stock valued at $389,000 after purchasing an additional 140 shares during the period. Essex Financial Services Inc. lifted its holdings in shares of Citigroup by 0.7% in the second quarter. Essex Financial Services Inc. now owns 22,728 shares of the financial services provider’s stock valued at $1,592,000 after buying an additional 153 shares during the period. Asset Dedication LLC lifted its holdings in shares of Citigroup by 2.0% in the second quarter. Asset Dedication LLC now owns 7,782 shares of the financial services provider’s stock valued at $542,000 after buying an additional 156 shares during the period. Icon Wealth Partners LLC boosted its stake in Citigroup by 3.2% during the first quarter. Icon Wealth Partners LLC now owns 5,138 shares of the financial services provider’s stock valued at $320,000 after buying an additional 157 shares in the last quarter. Finally, Avestar Capital LLC boosted its stake in Citigroup by 35.0% during the first quarter. Avestar Capital LLC now owns 610 shares of the financial services provider’s stock valued at $33,000 after buying an additional 158 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

In other news, insider Michael Whitaker sold 7,500 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were 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 approximately $5,821,391.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.09% of the company’s stock.

A number of brokerages have recently commented on C. BMO Capital Markets downgraded Citigroup to a “hold” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods raised shares of Citigroup from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $74.00 to $86.00 in a research report on Friday, July 26th. Wells Fargo & Co set a $85.00 price target on shares of Citigroup and gave the company a “buy” rating in a report on Friday, August 16th. JPMorgan Chase & Co. upped their price target on shares of Citigroup from $75.00 to $77.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Finally, Morgan Stanley set a $78.00 price objective on shares of Citigroup and gave the stock a “buy” rating in a research note on Friday, August 9th. One research 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. Citigroup currently has an average rating of “Buy” and an average price target of $79.12.

NYSE C traded down $0.12 on Wednesday, hitting $68.86. The company’s stock had a trading volume of 9,320,885 shares, compared to its average volume of 13,871,125. The firm has a market cap of $155.40 billion, a P/E ratio of 10.35, a PEG ratio of 0.75 and a beta of 1.78. Citigroup Inc has a 52-week low of $48.42 and a 52-week high of $75.24. The company’s 50-day simple moving average is $66.03 and its 200 day simple moving average is $66.52. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.40.

Citigroup (NYSE:C) last announced its earnings results on Monday, July 15th. The financial services provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.17. Citigroup had a return on equity of 10.10% and a net margin of 18.24%. The company had revenue of $18.76 billion during the quarter, compared to the consensus estimate of $18.49 billion. During the same quarter in the prior year, the company earned $1.63 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, research analysts forecast that Citigroup Inc will post 7.55 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.96%. This is a boost from Citigroup’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, August 2nd. Citigroup’s payout ratio is presently 30.68%.

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).

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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