Citigroup Inc (C) Stake Raised by Iberiabank Corp

Iberiabank Corp grew its stake in Citigroup Inc (NYSE:C) by 19.0% during the third quarter, HoldingsChannel reports. The firm owned 5,765 shares of the financial services provider’s stock after purchasing an additional 919 shares during the period. Iberiabank Corp’s holdings in Citigroup were worth $414,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Atalanta Sosnoff Capital LLC grew its position in shares of Citigroup by 19.9% during the 3rd quarter. Atalanta Sosnoff Capital LLC now owns 816,392 shares of the financial services provider’s stock valued at $58,568,000 after buying an additional 135,224 shares during the last quarter. Advisors Capital Management LLC grew its position in shares of Citigroup by 2.0% during the 3rd quarter. Advisors Capital Management LLC now owns 227,843 shares of the financial services provider’s stock valued at $16,345,000 after buying an additional 4,514 shares during the last quarter. Altfest L J & Co. Inc. grew its position in shares of Citigroup by 5.6% during the 3rd quarter. Altfest L J & Co. Inc. now owns 19,921 shares of the financial services provider’s stock valued at $1,429,000 after buying an additional 1,049 shares during the last quarter. Clinton Group Inc. grew its position in shares of Citigroup by 78.6% during the 3rd quarter. Clinton Group Inc. now owns 25,000 shares of the financial services provider’s stock valued at $1,794,000 after buying an additional 11,000 shares during the last quarter. Finally, Murphy Capital Management Inc. grew its position in shares of Citigroup by 3.7% during the 3rd quarter. Murphy Capital Management Inc. now owns 35,931 shares of the financial services provider’s stock valued at $2,577,000 after buying an additional 1,290 shares during the last quarter. Institutional investors and hedge funds own 74.81% of the company’s stock.

NYSE C opened at $69.84 on Friday. Citigroup Inc has a 52 week low of $64.38 and a 52 week high of $80.70. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $184.38 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 0.97 and a beta of 1.46.

Citigroup (NYSE:C) last posted its earnings results on Friday, July 13th. The financial services provider reported $1.62 EPS for the quarter, topping the consensus estimate of $1.54 by $0.08. Citigroup had a negative net margin of 5.45% and a positive return on equity of 8.78%. The firm had revenue of $18.47 billion during the quarter, compared to analysts’ expectations of $18.43 billion. As a group, equities analysts expect that Citigroup Inc will post 6.59 earnings per share for the current year.

A number of brokerages recently weighed in on C. BMO Capital Markets boosted their price objective on shares of Citigroup from $76.00 to $85.00 and gave the company a “market perform” rating in a research report on Monday, July 16th. Oppenheimer boosted their price objective on shares of Citigroup from $89.00 to $91.00 and gave the company an “outperformer” rating in a research report on Monday, July 16th. Vining Sparks reaffirmed a “buy” rating and set a $77.00 price objective on shares of Citigroup in a research report on Tuesday. Goldman Sachs Group set a $78.00 price objective on shares of Citigroup and gave the company a “neutral” rating in a research report on Friday, July 20th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $85.00 price objective on shares of Citigroup in a research report on Monday, July 16th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $82.25.

In other news, insider Raja Akram sold 500 shares of the stock in a transaction that occurred on Thursday, July 19th. The shares were sold at an average price of $69.21, for a total value of $34,605.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Francisco Aristeguieta sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $72.36, for a total transaction of $1,085,400.00. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by corporate insiders.

About Citigroup

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.

Further Reading: Conference Calls

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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