Sumitomo Mitsui Trust Group Inc. Purchases 365,094 Shares of Citigroup Inc. (NYSE:C)

by · The Markets Daily

Sumitomo Mitsui Trust Group Inc. grew its position in Citigroup Inc. (NYSE:C – Free Report) by 8.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,541,263 shares of the company’s stock after acquiring an additional 365,094 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.24% of Citigroup worth $284,283,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of C. POM Investment Strategies LLC bought a new stake in Citigroup in the second quarter valued at about $25,000. Northwest Investment Counselors LLC bought a new stake in shares of Citigroup in the 3rd quarter valued at approximately $28,000. Beacon Capital Management LLC raised its holdings in shares of Citigroup by 85.5% in the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after buying an additional 212 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Citigroup during the 2nd quarter worth approximately $31,000. Finally, Triad Wealth Partners LLC acquired a new stake in Citigroup in the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analyst Ratings Changes

C has been the topic of a number of recent analyst reports. The Goldman Sachs Group reduced their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Oppenheimer increased their price target on Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Morgan Stanley cut their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Evercore ISI increased their target price on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, October 16th. Finally, Barclays lifted their price target on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.06.

View Our Latest Stock Analysis on Citigroup

Citigroup Trading Up 1.7 %

Shares of C stock opened at $69.80 on Tuesday. Citigroup Inc. has a 12-month low of $41.93 and a 12-month high of $70.20. The company has a market capitalization of $133.16 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44. The firm has a 50 day moving average price of $62.56 and a two-hundred day moving average price of $62.42. The company has a quick ratio of 0.94, a current ratio of 0.96 and a debt-to-equity ratio of 1.55.

Citigroup (NYSE:C – Get Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.20. The firm had revenue of $20.32 billion for the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business earned $1.52 EPS. As a group, analysts predict that Citigroup Inc. will post 5.85 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Monday, November 4th. Citigroup’s dividend payout ratio is currently 64.93%.

Citigroup Profile

(Free Report)

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.

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