Seabridge Investment Advisors Lowers stake in Citigroup Inc (C)

Citigroup Inc (C) : Seabridge Investment Advisors reduced its stake in Citigroup Inc by 6.57% during the most recent quarter end. The investment management company now holds a total of 158,943 shares of Citigroup Inc which is valued at $7,465,553 after selling 11,168 shares in Citigroup Inc , the firm said in a disclosure report filed with the SEC on Apr 20, 2016.Citigroup Inc makes up approximately 1.68% of Seabridge Investment Advisors’s portfolio.

Citigroup Inc opened for trading at $46.69 and hit $47.35 on the upside on Friday, eventually ending the session at $46.97, with a gain of 0.79% or 0.37 points. The heightened volatility saw the trading volume jump to 1,74,25,930 shares. Company has a market cap of $138,473 M.

Other Hedge Funds, Including , Centurylink Investment Management Co reduced its stake in C by selling 1,343 shares or 3.3% in the most recent quarter. The Hedge Fund company now holds 39,316 shares of C which is valued at $1,846,673. Citigroup Inc makes up approx 0.66% of Centurylink Investment Management Co’s portfolio.Stillwater Capital Advisors reduced its stake in C by selling 280 shares or 1.71% in the most recent quarter. The Hedge Fund company now holds 16,110 shares of C which is valued at $723,661. Citigroup Inc makes up approx 0.21% of Stillwater Capital Advisors’s portfolio.Dnb Asset Management As reduced its stake in C by selling 123,689 shares or 4.0% in the most recent quarter. The Hedge Fund company now holds 2,972,175 shares of C which is valued at $133,510,101. Citigroup Inc makes up approx 2.75% of Dnb Asset Management As’s portfolio. Waverton Investment Management Ltd sold out all of its stake in C during the most recent quarter. The investment firm sold 10,152 shares of C which is valued $417,450.New England Research Management reduced its stake in C by selling 300 shares or 3.49% in the most recent quarter. The Hedge Fund company now holds 8,300 shares of C which is valued at $341,296. Citigroup Inc makes up approx 0.29% of New England Research Management’s portfolio.

On the company’s financial health, Citigroup Inc reported $1.10 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 15, 2016. Analyst had a consensus of $1.05. The company had revenue of $17555.00 million for the quarter, compared to analysts expectations of $17444.17 million. The company’s revenue was down -11.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.52 EPS.

Investors should note that on Apr 1, 2016, Citigroup Inc announced a cash dividend of $0.0500. The company’s management has announced Apr 28, 2016 as the ex-dividend date and fixed the record date on May 2, 2016. The payable date has been fixed on May 27, 2016.

Many Wall Street Analysts have commented on Citigroup Inc. Citigroup Inc was Downgraded by Keefe Bruyette to ” Mkt Perform” on Apr 18, 2016. Company shares were Reiterated by UBS on Apr 18, 2016 to “Buy”, Firm has raised the Price Target to $ 54 from a previous price target of $50 .Shares were Reiterated by Barclays on Mar 14, 2016 to “Overweight” and Lowered the Price Target to $ 60 from a previous price target of $65 .

Citigroup Inc. (Citi) is a financial services holding company whose businesses provide consumers corporations governments and institutions with financial products and services including consumer banking and credit corporate and investment banking securities brokerage trade and securities services and wealth management. The Company operates through two primary business segments: Citicorp and Citi Holdings. Citicorp consists of the operating businesses: Global Consumer Banking which consists of consumer banking in North America EMEA Latin America and Asia and Institutional Clients Group which includes Banking and Markets and securities services. Citi Holdings contains businesses and portfolios of assets that Citi has determined are not central to its core Citicorp businesses. Citi’s consumer operations as well as the consumer finance business in Korea and certain businesses in ICG form part of Citi Holdings.

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