Trust Asset Management LLC Holds Position in Citigroup Inc. (C)

Trust Asset Management LLC maintained its stake in Citigroup Inc. (NYSE:C) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 8,561 shares of the financial services provider’s stock at the end of the second quarter. Citigroup comprises 0.2% of Trust Asset Management LLC’s holdings, making the stock its 25th largest position. Trust Asset Management LLC’s holdings in Citigroup were worth $573,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Patten Group Inc. boosted its position in Citigroup by 6.6% in the first quarter. Patten Group Inc. now owns 1,765 shares of the financial services provider’s stock valued at $105,000 after buying an additional 110 shares in the last quarter. Arrow Financial Corp boosted its position in Citigroup by 4.7% in the first quarter. Arrow Financial Corp now owns 1,896 shares of the financial services provider’s stock valued at $113,000 after buying an additional 85 shares in the last quarter. Advantage Investment Management LLC boosted its position in Citigroup by 109.3% in the first quarter. Advantage Investment Management LLC now owns 1,965 shares of the financial services provider’s stock valued at $118,000 after buying an additional 1,026 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in Citigroup during the first quarter valued at about $123,000. Finally, Pinnacle Bank purchased a new position in Citigroup during the first quarter valued at about $123,000. 74.25% of the stock is currently owned by institutional investors and hedge funds.

Shares of Citigroup Inc. (NYSE:C) traded up 0.172% during midday trading on Monday, hitting $66.835. 13,659,306 shares of the company were exchanged. Citigroup Inc. has a 52-week low of $42.50 and a 52-week high of $68.91. The stock has a market capitalization of $184.01 billion, a price-to-earnings ratio of 13.469 and a beta of 1.48. The company has a 50-day moving average price of $62.66 and a 200-day moving average price of $60.18.

Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.07. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The company had revenue of $17.90 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the prior year, the company posted $1.24 EPS. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, analysts forecast that Citigroup Inc. will post $5.19 EPS for the current year.

Citigroup declared that its board has approved a share buyback plan on Wednesday, June 28th that authorizes the company to buyback $15.60 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 8.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

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C has been the subject of several analyst reports. BidaskClub cut shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Vetr upgraded shares of Citigroup from a “buy” rating to a “strong-buy” rating and set a $66.78 target price for the company in a research note on Monday, April 10th. Deutsche Bank AG reiterated a “hold” rating on shares of Citigroup in a research note on Monday, July 3rd. HSBC Holdings plc initiated coverage on shares of Citigroup in a research note on Tuesday, July 11th. They issued a “hold” rating and a $71.00 target price for the company. Finally, Rafferty Capital Markets reiterated a “buy” rating and issued a $66.00 target price on shares of Citigroup in a research note on Monday, April 3rd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $67.05.

Citigroup Company Profile

Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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