Pacer Advisors Inc. Has $11.04 Million Stock Holdings in Citigroup Inc. (NYSE:C)

Key Points

• Pacer Advisors Inc. reduced its stake in Citigroup Inc. by 41.6%, selling 110,980 shares, and now holds 155,557 shares valued at approximately $11.04 million.
• Several institutional investors, including Orion Capital Management and MorganRosel Wealth Management, recently established new positions in Citigroup, increasing overall institutional ownership to 71.72% of the stock.
• Citigroup's quarterly earnings surpassed analysts' expectations, reporting $1.96 EPS and $21.67 billion in revenue, while also increasing its quarterly dividend from $0.56 to $0.60.

Pacer Advisors Inc. cut its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 41.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 155,557 shares of the company's stock after selling 110,980 shares during the period. Pacer Advisors Inc.'s holdings in Citigroup were worth $11,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in C. Brighton Jones LLC grew its stake in Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after acquiring an additional 12,499 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Citigroup by 3.4% in the 4th quarter. American Century Companies Inc. now owns 352,948 shares of the company's stock worth $24,844,000 after acquiring an additional 11,674 shares during the last quarter. WINTON GROUP Ltd lifted its holdings in shares of Citigroup by 20.3% in the 4th quarter. WINTON GROUP Ltd now owns 8,266 shares of the company's stock worth $582,000 after acquiring an additional 1,395 shares during the last quarter. Intrust Bank NA lifted its holdings in Citigroup by 8.8% during the 4th quarter. Intrust Bank NA now owns 14,514 shares of the company's stock worth $1,022,000 after buying an additional 1,176 shares in the last quarter. Finally, L & S Advisors Inc acquired a new stake in Citigroup during the 4th quarter worth approximately $6,312,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Peter B. Henry sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the completion of the sale, the director directly owned 2,140 shares of the company's stock, valued at $193,456. This represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on C. Cowen started coverage on shares of Citigroup in a research report on Wednesday, May 14th. They set a "hold" rating on the stock. Royal Bank Of Canada reduced their price objective on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Bank of America raised their price objective on shares of Citigroup from $89.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. The Goldman Sachs Group raised their price objective on shares of Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, Barclays raised their target price on shares of Citigroup from $95.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $96.54.

Citigroup Price Performance

Shares of C traded down $0.89 during mid-day trading on Thursday, hitting $94.92. The company's stock had a trading volume of 4,120,840 shares, compared to its average volume of 15,862,254. The firm has a 50-day moving average price of $83.58 and a 200 day moving average price of $76.72. The stock has a market capitalization of $177.28 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 0.81 and a beta of 1.34. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $96.90.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The company had revenue of $21.67 billion during the quarter, compared to analyst estimates of $20.75 billion. During the same period in the prior year, the firm earned $1.52 earnings per share. The business's quarterly revenue was up 8.2% on a year-over-year basis. On average, research analysts predict that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.53%. This is a positive change from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date is Monday, August 4th. Citigroup's dividend payout ratio is 33.09%.

About Citigroup

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.