Mackenzie Financial Corp Lowers stake in Citigroup Inc (C)

Citigroup Inc (C) : Mackenzie Financial Corp reduced its stake in Citigroup Inc by 1.26% during the most recent quarter end. The investment management company now holds a total of 9,113,235 shares of Citigroup Inc which is valued at $392.9 Million after selling 116,675 shares in Citigroup Inc , the firm said in a disclosure report filed with the SEC on May 12, 2016.Citigroup Inc makes up approximately 3.61% of Mackenzie Financial Corp’s portfolio.

Other Hedge Funds, Including , K2 Principal Fund added C to its portfolio by purchasing 10,000 company shares during the most recent quarter which is valued at $431,100. Citigroup Inc makes up approx 0.13% of K2 Principal Fund’s portfolio.Partnervest Advisory Services reduced its stake in C by selling 1,548 shares or 19.16% in the most recent quarter. The Hedge Fund company now holds 6,532 shares of C which is valued at $290,086. Citigroup Inc makes up approx 0.16% of Partnervest Advisory Services’s portfolio.Pitcairn Co reduced its stake in C by selling 1,577 shares or 13.34% in the most recent quarter. The Hedge Fund company now holds 10,246 shares of C which is valued at $474,185. Citigroup Inc makes up approx 0.06% of Pitcairn Co’s portfolio. Sanders Morris Harris sold out all of its stake in C during the most recent quarter. The investment firm sold 1,707 shares of C which is valued $79,000.Asset Dedication reduced its stake in C by selling 139 shares or 1.2% in the most recent quarter. The Hedge Fund company now holds 11,485 shares of C which is valued at $531,526. Citigroup Inc makes up approx 0.39% of Asset Dedication’s portfolio.

Citigroup Inc closed down -0.16 points or -0.36% at $44.9 with 1,96,10,197 shares getting traded on Friday. Post opening the session at $45.42, the shares hit an intraday low of $44.79 and an intraday high of $45.7 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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.

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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