Envestnet Asset Management Inc. Cuts Stake in Citigroup Inc. $C

Envestnet Asset Management Inc. reduced its stake in Citigroup Inc. by 3.5% in the second quarter, selling 100,483 shares but still holding 2.8 million shares valued at $391.4 million. Despite this reduction, institutional investors collectively own a significant 71.72% of Citigroup. The article highlights general positive sentiment from Wall Street analysts, strong quarterly earnings, and a dividend increase, though it also notes concerns about rising credit card delinquencies and inflation.