Citigroup Inc. (C) Holdings Raised by Marshall Wace LLP

Marshall Wace LLP boosted its stake in shares of Citigroup Inc. (NYSE:C) by 186.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 792,420 shares of the financial services provider’s stock after acquiring an additional 515,600 shares during the quarter. Citigroup makes up approximately 2.3% of Marshall Wace LLP’s holdings, making the stock its 9th biggest holding. Marshall Wace LLP’s holdings in Citigroup were worth $53,092,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Annex Advisory Services LLC bought a new stake in Citigroup during the 2nd quarter worth about $887,000. Jennison Associates LLC grew its holdings in Citigroup by 23.9% during the 2nd quarter. Jennison Associates LLC now owns 2,224,378 shares of the financial services provider’s stock worth $148,766,000 after acquiring an additional 428,809 shares during the last quarter. Everence Capital Management Inc. grew its holdings in Citigroup by 5.1% during the 2nd quarter. Everence Capital Management Inc. now owns 55,866 shares of the financial services provider’s stock worth $3,736,000 after acquiring an additional 2,700 shares during the last quarter. ALGEBRIS UK Ltd bought a new stake in Citigroup during the 2nd quarter worth about $29,432,000. Finally, Halbert Hargrove Russell LLC grew its holdings in Citigroup by 1.6% during the 2nd quarter. Halbert Hargrove Russell LLC now owns 4,736 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 74 shares during the last quarter. 75.37% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup (NYSE:C) last issued its earnings results on Thursday, October 12th. The financial services provider reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.10. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The company had revenue of $18.17 billion for the quarter, compared to analyst estimates of $17.87 billion. During the same period in the prior year, the firm earned $1.24 earnings per share. Citigroup’s revenue for the quarter was up 2.3% on a year-over-year basis.

Citigroup announced that its Board of Directors has initiated a stock buyback program 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 stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

A number of research analysts have issued reports on C shares. Atlantic Securities restated an “overweight” rating and set a $85.00 target price (up from $75.00) on shares of Citigroup in a research report on Tuesday, September 26th. Bank of America Corporation restated a “neutral” rating on shares of Citigroup in a research report on Wednesday. Zacks Investment Research upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a research report on Friday, July 7th. Vetr upgraded shares of Citigroup from a “buy” rating to a “strong-buy” rating and set a $76.34 target price on the stock in a research report on Thursday, August 3rd. Finally, BMO Capital Markets restated a “hold” rating and set a $65.00 target price on shares of Citigroup in a research report on Friday, October 6th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $74.17.

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In related news, insider Jeffrey R. Walsh sold 5,000 shares of the company’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 completion of the sale, the insider now owns 56,394 shares in the company, valued at $3,889,494.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Francisco Aristeguieta sold 40,000 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $67.55, for a total value of $2,702,000.00. Following the sale, the chief executive officer now owns 77,570 shares of the company’s stock, valued at approximately $5,239,853.50. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

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.

Institutional Ownership by Quarter for Citigroup (NYSE:C)

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