Hi Line Capital Management LLC Has $7.71 Million Stock Holdings in Citigroup Inc (NYSE:C)

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Hi Line Capital Management LLC raised its holdings in shares of Citigroup Inc (NYSE:C) by 0.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 110,095 shares of the financial services provider’s stock after acquiring an additional 706 shares during the quarter. Citigroup makes up approximately 3.5% of Hi Line Capital Management LLC’s holdings, making the stock its 9th biggest position. Hi Line Capital Management LLC’s holdings in Citigroup were worth $7,710,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in Citigroup by 0.3% during 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings 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 lifted its holdings 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 in the last quarter. Sanders Capital LLC lifted its holdings 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 in the last quarter. Finally, APG Asset Management N.V. lifted its holdings in shares of Citigroup by 81.7% during the second quarter. APG Asset Management N.V. now owns 9,426,403 shares of the financial services provider’s stock worth $579,672,000 after buying an additional 4,238,700 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

In other news, insider Michael Whitaker sold 7,500 shares of the company’s 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 transaction, the insider now directly owns 93,848 shares of the company’s stock, valued at $5,821,391.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by corporate insiders.

A number of research analysts recently commented on C shares. ValuEngine downgraded Citigroup from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Goldman Sachs Group raised Citigroup from a “neutral” rating to a “buy” rating and set a $64.51 price target for the company in a research note on Thursday, May 30th. 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. JPMorgan Chase & Co. boosted their price target on Citigroup from $75.00 to $77.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Finally, Bank of America downgraded Citigroup to a “hold” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $79.12.

Citigroup stock opened at $70.27 on Friday. The stock’s 50 day moving average is $65.97 and its 200 day moving average is $66.54. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $155.83 billion, a P/E ratio of 10.57, a P/E/G ratio of 0.75 and a beta of 1.78. Citigroup Inc has a one year low of $48.42 and a one year high of $75.24.

Citigroup (NYSE:C) last issued its quarterly earnings results on Monday, July 15th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.17. Citigroup had a return on equity of 10.10% and a net margin of 18.24%. The firm had revenue of $18.76 billion for the quarter, compared to analyst estimates of $18.49 billion. During the same period in the previous year, the firm earned $1.63 earnings per share. The company’s revenue was up 1.6% compared to the same quarter last year. Equities analysts anticipate that Citigroup Inc will post 7.56 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 given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.90%. This is a positive change from Citigroup’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, August 2nd. Citigroup’s dividend payout ratio is presently 30.68%.

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).

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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