Midas Management Corp Continues to Hold Position in Citigroup Inc. (C)

Midas Management Corp maintained its position in Citigroup Inc. (NYSE:C) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,000 shares of the financial services provider’s stock at the end of the second quarter. Midas Management Corp’s holdings in Citigroup were worth $721,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Simmons Bank acquired a new position in shares of Citigroup during the first quarter worth about $877,000. Springowl Associates LLC purchased a new position in Citigroup during the first quarter valued at about $835,000. Geode Capital Management LLC raised its position in Citigroup by 0.7% in the first quarter. Geode Capital Management LLC now owns 24,657,570 shares of the financial services provider’s stock valued at $1,027,425,000 after buying an additional 176,548 shares during the last quarter. Riverhead Capital Management LLC raised its position in Citigroup by 68.5% in the first quarter. Riverhead Capital Management LLC now owns 463,403 shares of the financial services provider’s stock valued at $19,347,000 after buying an additional 188,426 shares during the last quarter. Finally, Quaker Capital Investments LLC raised its position in Citigroup by 150.1% in the first quarter. Quaker Capital Investments LLC now owns 414,245 shares of the financial services provider’s stock valued at $17,295,000 after buying an additional 248,600 shares during the last quarter. 71.26% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Citigroup (NYSE:C)

Shares of Citigroup Inc. (NYSE:C) traded up 0.80% during midday trading on Tuesday, hitting $48.99. The stock had a trading volume of 18,159,870 shares. Citigroup Inc. has a 12 month low of $34.52 and a 12 month high of $56.46. The stock’s 50 day moving average price is $47.58 and its 200 day moving average price is $45.20. The firm has a market cap of $142.33 billion, a price-to-earnings ratio of 10.37 and a beta of 1.86.

Citigroup (NYSE:C) last announced its earnings results on Friday, October 14th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.08. The business had revenue of $17.80 billion for the quarter, compared to analysts’ expectations of $17.32 billion. Citigroup had a return on equity of 7.04% and a net margin of 17.58%. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period last year, the firm posted $1.31 earnings per share. On average, equities analysts forecast that Citigroup Inc. will post $4.61 EPS for the current fiscal year.

Several research firms have issued reports on C. Argus restated a “hold” rating on shares of Citigroup in a report on Tuesday. Vetr upgraded shares of Citigroup from a “sell” rating to a “hold” rating and set a $47.03 price target for the company in a report on Monday. Compass Point began coverage on shares of Citigroup in a report on Tuesday, October 11th. They set a “sell” rating and a $39.00 price target for the company. Jefferies Group raised their price target on shares of Citigroup from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, October 10th. Finally, Nomura restated a “buy” rating and set a $55.00 price target on shares of Citigroup in a report on Thursday, September 29th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the stock. Citigroup currently has an average rating of “Buy” and a consensus target price of $54.76.

In other Citigroup news, insider Joseph Michael Murray sold 8,122 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $44.35, for a total value of $360,210.70. Following the transaction, the insider now directly owns 35,042 shares of the company’s stock, valued at $1,554,112.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is owned by company insiders.

About Citigroup

Citigroup Inc (Citi) is a financial services holding company. The Company’s 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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