Independent Portfolio Consultants Lowers stake in Citigroup Inc (C)

Citigroup Inc (C) : Independent Portfolio Consultants reduced its stake in Citigroup Inc by 12.39% during the most recent quarter end. The investment management company now holds a total of 55,575 shares of Citigroup Inc which is valued at $2,703,724 after selling 7,860 shares in Citigroup Inc , the firm said in a disclosure report filed with the SEC on Oct 5, 2016.Citigroup Inc makes up approximately 0.85% of Independent Portfolio Consultants’s portfolio.

Other Hedge Funds, Including , Stillwater Investment Management boosted its stake in C in the latest quarter, The investment management firm added 2 additional shares and now holds a total of 30,498 shares of Citigroup Inc which is valued at $1,483,728. Citigroup Inc makes up approx 0.81% of Stillwater Investment Management’s portfolio.Eqis Capital Management reduced its stake in C by selling 1,905 shares or 15.56% in the most recent quarter. The Hedge Fund company now holds 10,338 shares of C which is valued at $502,944. Citigroup Inc makes up approx 0.03% of Eqis Capital Management’s portfolio.West Oak Capital reduced its stake in C by selling 7,908 shares or 25.31% in the most recent quarter. The Hedge Fund company now holds 23,340 shares of C which is valued at $1,135,491. Citigroup Inc makes up approx 0.79% of West Oak Capital’s portfolio.Washington Trust Bank boosted its stake in C in the latest quarter, The investment management firm added 183 additional shares and now holds a total of 20,751 shares of Citigroup Inc which is valued at $1,009,536. Citigroup Inc makes up approx 0.24% of Washington Trust Bank’s portfolio.

Citigroup Inc opened for trading at $47.1 and hit $48.43 on the upside on Tuesday, eventually ending the session at $47.75, with a gain of 1.53% or 0.72 points. The heightened volatility saw the trading volume jump to 2,55,41,972 shares. Company has a market cap of $138,732 M.

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. Citigroup Inc was Downgraded by Goldman to ” Neutral” on Sep 16, 2016. Citigroup Inc was Downgraded by Societe Generale to ” Sell” on Sep 13, 2016. Berenberg Initiated Citigroup Inc on Jul 13, 2016 to “Buy”, Price Target of the shares are set at $50.

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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