Shikiar Asset Management Inc buys $5,326,588 stake in Citigroup Inc (C)

Citigroup Inc (C) : Shikiar Asset Management Inc scooped up 9,014 additional shares in Citigroup Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 20, 2016. The investment management firm now holds a total of 120,239 shares of Citigroup Inc which is valued at $5,326,588.Citigroup Inc makes up approximately 2.27% of Shikiar Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Hartford Investment Management Co reduced its stake in C by selling 19,563 shares or 2.65% in the most recent quarter. The Hedge Fund company now holds 718,664 shares of C which is valued at $31,836,815. Citigroup Inc makes up approx 0.65% of Hartford Investment Management Co’s portfolio.

Citigroup Inc opened for trading at $44.53 and hit $44.7 on the upside on Wednesday, eventually ending the session at $44.47, with a gain of 0.27% or 0.12 points. The heightened volatility saw the trading volume jump to 1,65,47,139 shares. Company has a market cap of $130,516 M.

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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