Ballentine Partners LLC Grows Stake in Citigroup Inc. (C)

Ballentine Partners LLC grew its holdings in Citigroup Inc. (NYSE:C) by 53.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,976 shares of the financial services provider’s stock after purchasing an additional 4,842 shares during the quarter. Ballentine Partners LLC’s holdings in Citigroup were worth $949,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Endurance Wealth Management Inc. grew its position in shares of Citigroup by 0.3% in the first quarter. Endurance Wealth Management Inc. now owns 9,837 shares of the financial services provider’s stock valued at $588,000 after purchasing an additional 25 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV grew its position in shares of Citigroup by 0.8% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,359 shares of the financial services provider’s stock valued at $358,000 after purchasing an additional 40 shares during the last quarter. Regal Investment Advisors LLC grew its position in shares of Citigroup by 2.0% in the first quarter. Regal Investment Advisors LLC now owns 3,800 shares of the financial services provider’s stock valued at $227,000 after purchasing an additional 74 shares during the last quarter. Davis R M Inc. grew its position in shares of Citigroup by 2.2% in the second quarter. Davis R M Inc. now owns 4,250 shares of the financial services provider’s stock valued at $284,000 after purchasing an additional 92 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of Citigroup by 2.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 4,425 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 93 shares during the last quarter. Institutional investors and hedge funds own 75.37% of the company’s stock.

Citigroup Inc. (NYSE:C) opened at 75.39 on Tuesday. The stock has a 50 day moving average of $70.03 and a 200-day moving average of $64.99. The stock has a market cap of $205.40 billion, a P/E ratio of 15.09 and a beta of 1.45. Citigroup Inc. has a 52 week low of $47.54 and a 52 week high of $76.02.

Citigroup (NYSE:C) last posted its earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.07. The firm had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.24 earnings per share. Analysts forecast that Citigroup Inc. will post $5.20 earnings per share for the current year.

Citigroup announced that its Board of Directors has authorized a share buyback program on Wednesday, June 28th that permits the company to repurchase $15.60 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

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

Several analysts have recently commented on C shares. Atlantic Securities reiterated an “overweight” rating and issued a $85.00 price target (up from $75.00) on shares of Citigroup in a research report on Tuesday, September 26th. Zacks Investment Research raised shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Friday, July 7th. Vetr raised shares of Citigroup from a “buy” rating to a “strong-buy” rating and set a $76.34 price objective on the stock in a research note on Thursday, August 3rd. BMO Capital Markets reissued a “hold” rating and set a $65.00 price objective on shares of Citigroup in a research note on Friday. Finally, Buckingham Research reissued a “buy” rating and set a $81.00 price objective (up previously from $70.00) on shares of Citigroup in a research note on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. The stock has an average rating o

Several other hedge funds have also added to or reduced their stakes in the company. Endurance Wealth Management Inc. grew its position in shares of Citigroup by 0.3% in the first quarter. Endurance Wealth Management Inc. now owns 9,837 shares of the financial services provider’s stock valued at $588,000 after purchasing an additional 25 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV grew its position in shares of Citigroup by 0.8% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,359 shares of the financial services provider’s stock valued at $358,000 after purchasing an additional 40 shares during the last quarter. Regal Investment Advisors LLC grew its position in shares of Citigroup by 2.0% in the first quarter. Regal Investment Advisors LLC now owns 3,800 shares of the financial services provider’s stock valued at $227,000 after purchasing an additional 74 shares during the last quarter. Davis R M Inc. grew its position in shares of Citigroup by 2.2% in the second quarter. Davis R M Inc. now owns 4,250 shares of the financial services provider’s stock valued at $284,000 after purchasing an additional 92 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of Citigroup by 2.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 4,425 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 93 shares during the last quarter. Institutional investors and hedge funds own 75.37% of the company’s stock.

Citigroup Inc. (NYSE:C) opened at 75.39 on Tuesday. The stock has a 50 day moving average of $70.03 and a 200-day moving average of $64.99. The stock has a market cap of $205.40 billion, a P/E ratio of 15.09 and a beta of 1.45. Citigroup Inc. has a 52 week low of $47.54 and a 52 week high of $76.02.

Citigroup (NYSE:C) last posted its earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.07. The firm had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.24 earnings per share. Analysts forecast that Citigroup Inc. will post $5.20 earnings per share for the current year.

Citigroup announced that its Board of Directors has authorized a share buyback program on Wednesday, June 28th that permits the company to repurchase $15.60 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

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

Several analysts have recently commented on C shares. Atlantic Securities reiterated an “overweight” rating and issued a $85.00 price target (up from $75.00) on shares of Citigroup in a research report on Tuesday, September 26th. Zacks Investment Research raised shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Friday, July 7th. Vetr raised shares of Citigroup from a “buy” rating to a “strong-buy” rating and set a $76.34 price objective on the stock in a research note on Thursday, August 3rd. BMO Capital Markets reissued a “hold” rating and set a $65.00 price objective on shares of Citigroup in a research note on Friday. Finally, Buckingham Research reissued a “buy” rating and set a $81.00 price objective (up previously from $70.00) on shares of Citigroup in a research note on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $72.08.

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Citigroup 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.

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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