Cumberland Partners Ltd Lowers stake in Citigroup Inc (C)

Citigroup Inc (C) : Cumberland Partners Ltd reduced its stake in Citigroup Inc by 2.44% during the most recent quarter end. The investment management company now holds a total of 219,604 shares of Citigroup Inc which is valued at $9,726,261 after selling 5,487 shares in Citigroup Inc , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Citigroup Inc makes up approximately 1.33% of Cumberland Partners Ltd’s portfolio.

Other Hedge Funds, Including , Boston Advisors added C to its portfolio by purchasing 253,724 company shares during the most recent quarter which is valued at $11,237,436. Citigroup Inc makes up approx 0.27% of Boston Advisors’s portfolio.Jfs Wealth Advisors reduced its stake in C by selling 49 shares or 1.79% in the most recent quarter. The Hedge Fund company now holds 2,684 shares of C which is valued at $118,874. Citigroup Inc makes up approx 0.03% of Jfs Wealth Advisors’s portfolio. Cribstone Capital Management added C to its portfolio by purchasing 515 company shares during the most recent quarter which is valued at $22,902. Citigroup Inc makes up approx 0.01% of Cribstone Capital Management’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in C in the latest quarter, The investment management firm added 738,298 additional shares and now holds a total of 12,083,668 shares of Citigroup Inc which is valued at $507,272,383. Citigroup Inc makes up approx 2.24% of Bnp Paribas Arbitrage Sa’s portfolio.

Citigroup Inc closed down -0.27 points or -0.61% at $43.81 with 1,37,73,743 shares getting traded on Friday. Post opening the session at $43.87, the shares hit an intraday low of $43.76 and an intraday high of $44.16 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 $1.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Jul 15, 2016. Analyst had a consensus of $1.10. The company had revenue of $17548.00 million for the quarter, compared to analysts expectations of $17482.92 million. During the same quarter in the previous year, the company posted $1.45 EPS.

Many Wall Street Analysts have commented on Citigroup Inc. Berenberg Initiated Citigroup Inc on Jul 13, 2016 to “Buy”, Price Target of the shares are set at $50.Citigroup Inc was Downgraded by Wells Fargo to ” Market Perform” on Jul 8, 2016.

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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