Canada Pension Plan Investment Board Sells 1,736,700 Shares of Citigroup Inc. (C)

Canada Pension Plan Investment Board lowered its position in shares of Citigroup Inc. (NYSE:C) by 34.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,360,686 shares of the financial services provider’s stock after selling 1,736,700 shares during the quarter. Canada Pension Plan Investment Board owned 0.12% of Citigroup worth $224,763,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Patten Group Inc. boosted its holdings in shares of Citigroup by 6.6% in the 1st quarter. Patten Group Inc. now owns 1,765 shares of the financial services provider’s stock valued at $105,000 after buying an additional 110 shares during the last quarter. Dubuque Bank & Trust Co. boosted its holdings in shares of Citigroup by 60.8% in the 2nd quarter. Dubuque Bank & Trust Co. now owns 1,584 shares of the financial services provider’s stock valued at $106,000 after buying an additional 599 shares during the last quarter. Advantage Investment Management LLC boosted its holdings in shares of Citigroup by 109.3% in the 1st quarter. Advantage Investment Management LLC now owns 1,965 shares of the financial services provider’s stock valued at $118,000 after buying an additional 1,026 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Citigroup in the 1st quarter valued at approximately $123,000. Finally, Shine Investment Advisory Services Inc. acquired a new stake in shares of Citigroup in the 2nd quarter valued at approximately $123,000. 75.38% of the stock is owned by hedge funds and other institutional investors.

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

Citigroup Inc. (NYSE C) opened at 72.74 on Friday. The company has a market cap of $198.18 billion, a PE ratio of 14.56 and a beta of 1.47. Citigroup Inc. has a 12 month low of $45.16 and a 12 month high of $72.90. The company has a 50 day moving average price of $68.04 and a 200-day moving average price of $63.70.

Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.07. The business had revenue of $17.90 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.24 EPS. Equities analysts predict that Citigroup Inc. will post $5.20 earnings per share for the current fiscal year.

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

Several equities research analysts have recently commented on C shares. Vetr raised Citigroup from a “buy” rating to a “strong-buy” rating and set a $71.55 price objective for the company in a report on Wednesday, June 7th. Keefe, Bruyette & Woods set a $69.00 price objective on Citigroup and gave the company a “buy” rating in a report on Thursday, June 8th. UBS AG raised Citigroup from a “sell” rating to a “neutral” rating and increased their price objective for the company from $58.00 to $64.00 in a report on Friday, June 9th. J P Morgan Chase & Co reissued a “sell” rating on shares of Citigroup in a report on Friday, June 9th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $68.00 price objective (up previously from $64.00) on shares of Citigroup in a report on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $71.16.

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.

Institutional Ownership by Quarter for Citigroup (NYSE:C)

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