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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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.
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