Parkside Investments LLC acquired a new position in Citigroup Inc. (NYSE:C) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 33,055 shares of the financial services provider’s stock, valued at approximately $2,211,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in C. BlackRock Inc. raised its stake in Citigroup by 2,718.7% during the 1st quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock valued at $11,749,573,000 after buying an additional 189,447,104 shares during the last quarter. FMR LLC raised its stake in Citigroup by 18.2% during the 1st quarter. FMR LLC now owns 105,742,815 shares of the financial services provider’s stock valued at $6,325,535,000 after buying an additional 16,257,931 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Citigroup by 31.3% during the 1st quarter. Bank of New York Mellon Corp now owns 43,167,279 shares of the financial services provider’s stock valued at $2,582,269,000 after buying an additional 10,294,403 shares during the last quarter. Harris Associates L P raised its stake in Citigroup by 25.9% during the 1st quarter. Harris Associates L P now owns 41,129,780 shares of the financial services provider’s stock valued at $2,460,384,000 after buying an additional 8,464,257 shares during the last quarter. Finally, Pioneer Investment Management Inc. raised its stake in Citigroup by 2,317.8% during the 2nd quarter. Pioneer Investment Management Inc. now owns 5,002,029 shares of the financial services provider’s stock valued at $334,536,000 after buying an additional 4,795,145 shares during the last quarter. Institutional investors own 75.38% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “33,055 Shares in Citigroup Inc. (C) Purchased by Parkside Investments LLC” was first reported by Watch List News and is the property of of Watch List News. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The original version of this news story can be accessed at https://www.watchlistnews.com/33055-shares-in-citigroup-inc-c-purchased-by-parkside-investments-llc/1614345.html.

A number of equities research analysts have weighed in on the stock. Vetr lowered shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $73.42 target price for the company. in a research note on Monday, July 3rd. UBS AG upgraded shares of Citigroup from a “sell” rating to a “neutral” rating and boosted their target price for the company from $58.00 to $64.00 in a research note on Friday, June 9th. Royal Bank Of Canada reiterated a “buy” rating and set a $75.00 target price on shares of Citigroup in a research note on Wednesday, September 27th. J P Morgan Chase & Co reiterated an “overweight” rating and set a $78.50 target price (up from $77.50) on shares of Citigroup in a research note on Friday. Finally, Bank of America Corporation reiterated a “buy” rating and set a $68.00 target price (up from $64.00) on shares of Citigroup in a research note on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $71.65.

Citigroup Inc. (C) opened at 75.64 on Friday. Citigroup Inc. has a one year low of $47.54 and a one year high of $76.02. The company has a market cap of $206.09 billion, a P/E ratio of 15.14 and a beta of 1.45. The company has a 50-day moving average of $69.77 and a 200 day moving average of $64.77. Citigroup also was the target of some unusual options trading activity on Thursday. Investors purchased 71,029 call options on the stock. This represents an increase of approximately 192% compared to the average volume of 24,344 call options.

Citigroup (NYSE:C) last announced its earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.07. The business had revenue of $17.90 billion for the quarter, compared to analyst estimates of $17.38 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.24 earnings per share. Analysts anticipate that Citigroup Inc. will post $5.21 earnings per share for the current year.

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

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

Citigroup Company 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)

Receive News & Ratings for Citigroup Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citigroup Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.