Citigroup Inc (C) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. cut its position in shares of Citigroup Inc (NYSE:C) by 4.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,702 shares of the financial services provider’s stock after selling 3,969 shares during the period. Citigroup comprises 0.8% of Sumitomo Life Insurance Co.’s portfolio, making the stock its 28th biggest position. Sumitomo Life Insurance Co.’s holdings in Citigroup were worth $6,079,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. FMR LLC raised its position in shares of Citigroup by 3.8% in the 2nd quarter. FMR LLC now owns 109,804,452 shares of the financial services provider’s stock worth $7,343,721,000 after acquiring an additional 4,061,637 shares in the last quarter. Harris Associates L P grew its stake in Citigroup by 0.5% during the 2nd quarter. Harris Associates L P now owns 41,350,951 shares of the financial services provider’s stock worth $2,765,551,000 after buying an additional 221,171 shares during the last quarter. Northern Trust Corp grew its stake in Citigroup by 3.1% during the 2nd quarter. Northern Trust Corp now owns 34,097,795 shares of the financial services provider’s stock worth $2,280,461,000 after buying an additional 1,011,532 shares during the last quarter. Boston Partners grew its stake in Citigroup by 3.4% during the 3rd quarter. Boston Partners now owns 24,591,045 shares of the financial services provider’s stock worth $1,788,752,000 after buying an additional 817,162 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Citigroup by 4.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 24,118,886 shares of the financial services provider’s stock worth $1,754,343,000 after buying an additional 1,091,989 shares during the last quarter. 79.62% of the stock is owned by institutional investors and hedge funds.

C has been the topic of several research analyst reports. Raymond James Financial initiated coverage on Citigroup in a research note on Tuesday, October 31st. They set a “hold” rating on the stock. Nomura boosted their target price on Citigroup to $84.00 and gave the stock a “buy” rating in a research note on Monday, December 11th. Credit Suisse Group restated a “buy” rating and set a $83.00 target price on shares of Citigroup in a research note on Tuesday, December 12th. Wells Fargo & Co set a $95.00 target price on Citigroup and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Finally, Keefe, Bruyette & Woods boosted their target price on Citigroup from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, December 14th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $79.65.

Citigroup Inc (NYSE:C) opened at $76.46 on Wednesday. The stock has a market capitalization of $202,160.00, a PE ratio of 13.78, a PEG ratio of 1.12 and a beta of 1.54. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.29. Citigroup Inc has a fifty-two week low of $56.55 and a fifty-two week high of $80.70.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.09. The business had revenue of $17.26 billion during the quarter, compared to analysts’ expectations of $17.23 billion. Citigroup had a positive return on equity of 7.60% and a negative net margin of 7.05%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.14 EPS. sell-side analysts expect that Citigroup Inc will post 6.4 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Monday, February 5th will be issued a $0.32 dividend. The ex-dividend date is Friday, February 2nd. This represents a $1.28 annualized dividend and a dividend yield of 1.67%. Citigroup’s dividend payout ratio (DPR) is presently 23.06%.

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About Citigroup

Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.

Institutional Ownership by Quarter for Citigroup (NYSE:C)

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