Welch Capital Partners LLC NY Trims Stock Holdings in Citigroup Inc (NYSE:C)

Welch Capital Partners LLC NY reduced its holdings in Citigroup Inc (NYSE:C) by 0.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 133,053 shares of the financial services provider’s stock after selling 1,030 shares during the period. Citigroup comprises approximately 3.2% of Welch Capital Partners LLC NY’s portfolio, making the stock its 6th largest holding. Welch Capital Partners LLC NY’s holdings in Citigroup were worth $9,318,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. TRUE Private Wealth Advisors lifted its position in Citigroup by 71.9% in the 2nd quarter. TRUE Private Wealth Advisors now owns 6,938 shares of the financial services provider’s stock valued at $485,000 after purchasing an additional 2,903 shares during the last quarter. Milestone Group Inc. lifted its position in Citigroup by 10.9% in the 2nd quarter. Milestone Group Inc. now owns 5,818 shares of the financial services provider’s stock valued at $407,000 after purchasing an additional 571 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in Citigroup by 23.9% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,765,826 shares of the financial services provider’s stock valued at $121,165,000 after purchasing an additional 340,350 shares during the last quarter. Close Asset Management Ltd lifted its position in Citigroup by 12.6% in the 2nd quarter. Close Asset Management Ltd now owns 212,833 shares of the financial services provider’s stock valued at $14,894,000 after purchasing an additional 23,764 shares during the last quarter. Finally, Sandy Spring Bank lifted its position in Citigroup by 8.1% in the 2nd quarter. Sandy Spring Bank now owns 31,317 shares of the financial services provider’s stock valued at $2,194,000 after purchasing an additional 2,348 shares during the last quarter. Institutional investors own 77.65% of the company’s stock.

Several analysts recently weighed in on C shares. Morgan Stanley set a $78.00 price objective on shares of Citigroup and gave the company a “buy” rating in a research report on Friday, August 9th. Zacks Investment Research downgraded shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Bank of America downgraded shares of Citigroup to a “hold” rating in a research report on Friday, July 26th. Goldman Sachs Group upgraded shares of Citigroup from a “neutral” rating to a “buy” rating and set a $64.51 price objective on the stock in a research report on Thursday, May 30th. Finally, Barclays lifted their price objective on shares of Citigroup from $83.00 to $86.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the stock. Citigroup presently has a consensus rating of “Buy” and a consensus target price of $79.40.

Citigroup stock traded down $2.73 during trading hours on Wednesday, hitting $61.51. 9,206,789 shares of the company traded hands, compared to its average volume of 14,950,971. The company has a market cap of $149.21 billion, a price-to-earnings ratio of 9.25, a P/E/G ratio of 0.72 and a beta of 1.76. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.40. The firm’s 50-day moving average price is $69.76. Citigroup Inc has a 1-year low of $48.42 and a 1-year high of $75.24.

Citigroup (NYSE:C) last released its earnings results on Monday, July 15th. The financial services provider reported $1.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.17. The firm had revenue of $18.76 billion for the quarter, compared to analysts’ expectations of $18.49 billion. Citigroup had a net margin of 18.24% and a return on equity of 10.10%. Citigroup’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the company earned $1.63 EPS. Analysts anticipate that Citigroup Inc will post 7.55 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 5th will be paid a dividend of $0.51 per share. This is a boost from Citigroup’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 2nd. This represents a $2.04 annualized dividend and a yield of 3.32%. Citigroup’s dividend payout ratio (DPR) is presently 30.68%.

Citigroup Company Profile

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

See Also: What impact do institutional investors have on markets?

Want to see what other hedge funds are holding C? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citigroup Inc (NYSE:C).

Institutional Ownership by Quarter for Citigroup (NYSE:C)

Receive News & Ratings for Citigroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citigroup and related companies with MarketBeat.com's FREE daily email newsletter.