Nepsis Capital Management Lowers stake in Citigroup Inc (C)

Citigroup Inc (C) : Nepsis Capital Management reduced its stake in Citigroup Inc by 12.72% during the most recent quarter end. The investment management company now holds a total of 126,403 shares of Citigroup Inc which is valued at $6,263,269 after selling 18,417 shares in Citigroup Inc , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.Citigroup Inc makes up approximately 3.35% of Nepsis Capital Management’s portfolio.

Other Hedge Funds, Including , Trinity Street Asset Management Llp boosted its stake in C in the latest quarter, The investment management firm added 9,978 additional shares and now holds a total of 799,429 shares of Citigroup Inc which is valued at $39,611,707. Citigroup Inc makes up approx 6.86% of Trinity Street Asset Management Llp’s portfolio.First Mercantile Trust Co reduced its stake in C by selling 5,325 shares or 18.28% in the most recent quarter. The Hedge Fund company now holds 23,800 shares of C which is valued at $1,172,864. Citigroup Inc makes up approx 0.16% of First Mercantile Trust Co’s portfolio.Academy Capital Management Inctx reduced its stake in C by selling 761 shares or 0.11% in the most recent quarter. The Hedge Fund company now holds 672,402 shares of C which is valued at $33,135,971. Citigroup Inc makes up approx 8.87% of Academy Capital Management Inctx’s portfolio.Chevy Chase Trust Holdings boosted its stake in C in the latest quarter, The investment management firm added 159,146 additional shares and now holds a total of 3,286,586 shares of Citigroup Inc which is valued at $159,892,409. Citigroup Inc makes up approx 0.88% of Chevy Chase Trust Holdings’s portfolio.Summit Financial Wealth Advisors reduced its stake in C by selling 193 shares or 2.96% in the most recent quarter. The Hedge Fund company now holds 6,320 shares of C which is valued at $307,468. Citigroup Inc makes up approx 0.13% of Summit Financial Wealth Advisors’s portfolio.

Citigroup Inc closed down -0.56 points or -1.13% at $48.99 with 1,60,33,289 shares getting traded on Tuesday. Post opening the session at $49.28, the shares hit an intraday low of $48.69 and an intraday high of $49.65 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Citigroup Inc reported $1.24 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Jul 15, 2016. Analyst had a consensus of $1.10. The company had revenue of $17548.00 million for the quarter, compared to analysts expectations of $17482.92 million. During the same quarter in the previous year, the company posted $1.45 EPS.

Many Wall Street Analysts have commented on Citigroup Inc. Citigroup Inc was Downgraded by Goldman to ” Neutral” on Sep 16, 2016. Citigroup Inc was Downgraded by Societe Generale to ” Sell” on Sep 13, 2016.

Citigroup Inc. (Citi) is a financial services holding company whose businesses provide consumers corporations governments and institutions with financial products and services including consumer banking and credit corporate and investment banking securities brokerage trade and securities services and wealth management. The Company operates through two primary business segments: Citicorp and Citi Holdings. Citicorp consists of the operating businesses: Global Consumer Banking which consists of consumer banking in North America EMEA Latin America and Asia and Institutional Clients Group which includes Banking and Markets and securities services. Citi Holdings contains businesses and portfolios of assets that Citi has determined are not central to its core Citicorp businesses. Citi’s consumer operations as well as the consumer finance business in Korea and certain businesses in ICG form part of Citi Holdings.

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