Palouse Capital Management Lowers stake in Citigroup Inc (C)

Citigroup Inc (C) : Palouse Capital Management reduced its stake in Citigroup Inc by 3.29% during the most recent quarter end. The investment management company now holds a total of 73,109 shares of Citigroup Inc which is valued at $3,237,998 after selling 2,487 shares in Citigroup Inc , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Citigroup Inc makes up approximately 1.26% of Palouse Capital Management’s portfolio.

Other Hedge Funds, Including , Terra Nova Asset Management reduced its stake in C by selling 2,000 shares or 28.99% in the most recent quarter. The Hedge Fund company now holds 4,900 shares of C which is valued at $217,021. Citigroup Inc makes up approx 0.36% of Terra Nova Asset Management’s portfolio.Meeder Asset Management Inc reduced its stake in C by selling 36,778 shares or 20.17% in the most recent quarter. The Hedge Fund company now holds 145,569 shares of C which is valued at $6,448,707. Citigroup Inc makes up approx 0.58% of Meeder Asset Management Inc’s portfolio.Nepsis Capital Management reduced its stake in C by selling 23,296 shares or 13.86% in the most recent quarter. The Hedge Fund company now holds 144,820 shares of C which is valued at $6,275,051. Citigroup Inc makes up approx 3.47% of Nepsis Capital Management’s portfolio.Abner Herrman Brock reduced its stake in C by selling 575 shares or 0.34% in the most recent quarter. The Hedge Fund company now holds 166,364 shares of C which is valued at $7,208,552. Citigroup Inc makes up approx 1.67% of Abner Herrman Brock’s portfolio.Grassi Investment Management reduced its stake in C by selling 10,829 shares or 7.85% in the most recent quarter. The Hedge Fund company now holds 127,061 shares of C which is valued at $5,505,553. Citigroup Inc makes up approx 1.02% of Grassi Investment Management’s portfolio.

Citigroup Inc closed down -0.27 points or -0.61% at $43.81 with 1,37,73,743 shares getting traded on Friday. Post opening the session at $43.87, the shares hit an intraday low of $43.76 and an intraday high of $44.16 and the price fluctuated in this range throughout the day.Shares ended Friday 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. Berenberg Initiated Citigroup Inc on Jul 13, 2016 to “Buy”, Price Target of the shares are set at $50.Citigroup Inc was Downgraded by Wells Fargo to ” Market Perform” on Jul 8, 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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