Rockshelter Capital Management LLC Has $18.47 Million Position in Citigroup Inc. (NYSE:C)

Rockshelter Capital Management LLC cut its stake in shares of Citigroup Inc. (NYSE:C) by 0.7% during the first quarter, Holdings Channel reports. The institutional investor owned 308,781 shares of the financial services provider’s stock after selling 2,285 shares during the period. Citigroup comprises approximately 5.6% of Rockshelter Capital Management LLC’s investment portfolio, making the stock its 3rd largest position. Rockshelter Capital Management LLC’s holdings in Citigroup were worth $18,471,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in C. Advisory Services Network LLC purchased a new stake in Citigroup during the first quarter worth $877,000. Advisor Partners LLC increased its stake in Citigroup by 10.6% in the first quarter. Advisor Partners LLC now owns 48,936 shares of the financial services provider’s stock worth $2,927,000 after buying an additional 4,685 shares in the last quarter. Capital Advisors Inc. OK increased its stake in Citigroup by 2.1% in the first quarter. Capital Advisors Inc. OK now owns 393,431 shares of the financial services provider’s stock worth $23,535,000 after buying an additional 8,070 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in Citigroup by 7.5% in the first quarter. Diamond Hill Capital Management Inc. now owns 9,680,474 shares of the financial services provider’s stock worth $579,086,000 after buying an additional 672,933 shares in the last quarter. Finally, Honkamp Krueger Financial Services Inc. increased its stake in Citigroup by 6.9% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 4,386 shares of the financial services provider’s stock worth $262,000 after buying an additional 283 shares in the last quarter. 74.89% of the stock is owned by institutional investors.

Shares of Citigroup Inc. (NYSE C) traded down 0.03% during trading on Friday, reaching $67.20. The company’s stock had a trading volume of 5,517,778 shares. The stock’s 50 day moving average is $67.13 and its 200 day moving average is $61.82. The firm has a market cap of $183.09 billion, a P/E ratio of 13.45 and a beta of 1.48. Citigroup Inc. has a one year low of $45.16 and a one year high of $69.86.

Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.07. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The business had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same period last year, the business posted $1.24 EPS. The business’s revenue was up 2.0% compared to the same quarter last year. On average, equities analysts forecast that Citigroup Inc. will post $5.22 EPS for the current fiscal year.

Citigroup declared that its Board of Directors has authorized a stock buyback program on Wednesday, June 28th that allows the company to buyback $15.60 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 8.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Monday, August 7th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.90%. This is an increase from Citigroup’s previous quarterly dividend of $0.16. The ex-dividend date is Thursday, August 3rd. Citigroup’s payout ratio is 25.55%.

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C has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods set a $69.00 target price on shares of Citigroup and gave the company a “buy” rating in a research report on Thursday, June 8th. Vetr downgraded shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $70.90 target price for the company. in a research report on Monday, June 12th. Nomura reissued a “buy” rating and set a $69.00 target price on shares of Citigroup in a research report on Monday, April 17th. BMO Capital Markets reissued a “buy” rating and set a $64.00 target price on shares of Citigroup in a research report on Thursday, June 1st. Finally, Bank of America Corporation reissued a “buy” rating and set a $68.00 target price (up previously from $64.00) on shares of Citigroup in a research report on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $69.08.

In related news, insider Jeffrey R. Walsh sold 5,000 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $68.97, for a total transaction of $344,850.00. Following the transaction, the insider now directly owns 56,394 shares in the company, valued at approximately $3,889,494.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.10% of the stock is owned by insiders.

About Citigroup

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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