SEC Filings: Capital Growth Management LP Has Upped Its Citigroup INC (C) Holding by $50.29 Million

SEC Filings: Capital Growth Management LP Has Upped Its Citigroup INC (C) Holding by $50.29 Million

Ken Heebner increased its stake in Citigroup Inc (C) by 49.08% based on its latest 2016Q3 regulatory filing with the SEC. Capital Growth Management Lp bought 1.07 million shares as the company’s stock rose 12.00% with the market. The hedge fund run by Ken Heebner held 3.25 million shares of the major banks company at the end of 2016Q3, valued at $153.50 million, up from 2.18 million at the end of the previous reported quarter. Capital Growth Management Lp who had been investing in Citigroup Inc for a number of months, seems to be bullish on the $170.70 billion market cap company. The stock increased 0.02% or $0.01 during the last trading session, hitting $60.23. About 2,553 shares traded hands. Citigroup Inc (NYSE:C) has risen 32.26% since June 7, 2016 and is uptrending. It has outperformed by 24.83% the S&P500.

Capital Growth Management Lp, which manages about $2.12 billion US Long portfolio, decreased its stake in Mallinckrodt Pub Ltd Co (NYSE:MNK) by 133,500 shares to 880,500 shares, valued at $61.44M in 2016Q3, according to the filing. It also reduced its holding in Amn Healthcare Services Inc (NYSE:AHS) by 100,000 shares in the quarter, leaving it with 200,000 shares, and cut its stake in Qts Rlty Tr Inc (NYSE:QTS).

Since its founding in 1990, Ken Heebner’s Capital Growth Management has posted incredible success. With a ten-year cumulative return, from 2000 to 2010, of an astounding 290.2%, Heebner’s Focus fund far outpaced the S&P 500’s posted return of 16.4%. This all leads to the undeniable conclusion that Ken Heebner is very savvy when it comes to fun management. He has the distinction of being one of only a few managers who had the foresight to pull out of financial investments prior to the economic crisis. He was untouched by the dot-com bubble, too, because he took his cue from Warren Buffet, refusing to bet on something that he did not fully understand.

Insitutional Activity: The institutional sentiment increased to 0.83 in Q3 2016. Its up 0.09, from 0.74 in 2016Q2. The ratio increased, as 68 funds sold all C shares owned while 449 reduced positions. 103 funds bought stakes while 324 increased positions. They now own 1.97 billion shares or 1.64% less from 2.00 billion shares in 2016Q2. Lpl Financial Lc, a California-based fund reported 83,111 shares. Moreover, Old Second National Bank Of Aurora has 0.01% invested in Citigroup Inc (NYSE:C) for 400 shares. Quantitative Management Ltd Co has invested 0.85% of its portfolio in Citigroup Inc (NYSE:C). Aqr Cap Management Limited Liability Company has 0.17% invested in the company for 2.37 million shares. Moreover, Pr Herzig has 2.17% invested in Citigroup Inc (NYSE:C) for 23,425 shares. Blackrock Ltd holds 23.28M shares or 1.13% of its portfolio. Nordea Inv Ab accumulated 4.31M shares or 0.53% of the stock. Catalyst Advisors Limited Liability Co reported 15,100 shares or 0.47% of all its holdings. Provise Group Inc Limited Liability Com accumulated 49,141 shares or 0.4% of the stock. Moreover, Live Your Vision Ltd Liability Corporation has 0% invested in Citigroup Inc (NYSE:C) for 234 shares. Schneider Capital Corporation has 747,147 shares for 5.74% of their US portfolio. The United Kingdom-based Toscafund Asset Management Ltd Liability Partnership has invested 18.22% in Citigroup Inc (NYSE:C). Capital holds 600,000 shares or 0.04% of its portfolio. Moreover, First Finance In has 0.08% invested in Citigroup Inc (NYSE:C) for 2,828 shares. Sentinel Co Lba accumulated 1.17% or 171,484 shares.

Insider Transactions: Since July 20, 2016, the stock had 0 buys, and 1 insider sale for $360,211 net activity. MURRAY JOSEPH MICHAEL also sold $360,211 worth of Citigroup Inc (NYSE:C) shares.

More recent Citigroup Inc (NYSE:C) news were published by: Nasdaq.com which released: “Implied Volatility Surging for Citigroup Inc. (C) Stock Options” on January 10, 2017. Also Reuters.com published the news titled: “Citigroup may benefit less from tax cuts than other US banks” on January 10, 2017. Seekingalpha.com‘s news article titled: “Buy Citigroup Before It Reports Q4 Earnings” with publication date: January 09, 2017 was also an interesting one.

According to Zacks Investment Research, “Citigroup Inc. is a global financial services company. It provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management. The Company also offers various wholesale banking products and services, including fixed income and equity sales and trading, foreign exchange, prime brokerage, and equity and fixed income research services. Citigroup Inc. is based in New York.”

Citigroup Inc (NYSE:C) Ratings Coverage

Out of 30 analysts covering Citigroup Inc. (NYSE:C), 16 rate it a “Buy”, 2 “Sell”, while 12 “Hold”. This means 53% are positive. $74 is the highest target while $4.0 is the lowest. The $54.47 average target is -9.56% below today’s ($60.23) stock price. Citigroup Inc. has been the topic of 62 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm earned “Overweight” rating on Thursday, April 7 by JP Morgan. The stock of Citigroup Inc (NYSE:C) earned “Perform” rating by Oppenheimer on Tuesday, January 5. As per Tuesday, October 6, the company rating was maintained by Oppenheimer. The firm earned “Market Perform” rating on Monday, April 18 by Wood. The rating was upgraded by Morgan Stanley on Monday, November 14 to “Overweight”. The stock of Citigroup Inc (NYSE:C) has “Outperform” rating given on Friday, January 29 by Oppenheimer. The stock of Citigroup Inc (NYSE:C) has “Buy” rating given on Monday, October 10 by Jefferies. The stock of Citigroup Inc (NYSE:C) earned “Buy” rating by SunTrust on Monday, August 24. Jefferies upgraded Citigroup Inc (NYSE:C) rating on Monday, September 28. Jefferies has “Buy” rating and $60 price target. The company was upgraded on Monday, September 28 by Credit Suisse.

C Company Profile

Citigroup Inc. (Citi), incorporated on March 8, 1988, is a financial services holding company. The Company’s businesses provide consumers, firms, governments and institutions with a range of financial services and products, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management. The Firm operates through two divisions: Citicorp and Citi Holdings.

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