Legal General Group Plc buys $710,972,568 stake in Citigroup Inc (C)

Citigroup Inc (C) : Legal General Group Plc scooped up 13,890 additional shares in Citigroup Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 12, 2016. The investment management firm now holds a total of 14,512,606 shares of Citigroup Inc which is valued at $710,972,568.Citigroup Inc makes up approximately 0.73% of Legal General Group Plc’s portfolio.

Other Hedge Funds, Including , North Star Investment Management Corp. reduced its stake in C by selling 297 shares or 7.56% in the most recent quarter. The Hedge Fund company now holds 3,633 shares of C which is valued at $177,981. Citigroup Inc makes up approx 0.03% of North Star Investment Management Corp.’s portfolio.Raymond James Trust N.a. reduced its stake in C by selling 1,772 shares or 7.2% in the most recent quarter. The Hedge Fund company now holds 22,840 shares of C which is valued at $1,131,722. Citigroup Inc makes up approx 0.10% of Raymond James Trust N.a.’s portfolio.First Mercantile Trust Co reduced its stake in C by selling 5,325 shares or 18.28% in the most recent quarter. The Hedge Fund company now holds 23,800 shares of C which is valued at $1,172,864. Citigroup Inc makes up approx 0.16% of First Mercantile Trust Co’s portfolio.

Citigroup Inc closed down -0.56 points or -1.13% at $48.99 with 1,60,33,289 shares getting traded on Tuesday. Post opening the session at $49.28, the shares hit an intraday low of $48.69 and an intraday high of $49.65 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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. 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.

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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