Sumitomo Life Insurance Co. lowered its stake in shares of Citigroup Inc. (NYSE:C) by 1.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,671 shares of the financial services provider’s stock after selling 1,558 shares during the quarter. Citigroup comprises approximately 0.8% of Sumitomo Life Insurance Co.’s investment portfolio, making the stock its 24th largest holding. Sumitomo Life Insurance Co.’s holdings in Citigroup were worth $6,232,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of C. Catamount Wealth Management purchased a new stake in Citigroup in the second quarter valued at approximately $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in Citigroup by 206.0% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the financial services provider’s stock valued at $102,000 after buying an additional 1,030 shares during the last quarter. Patten Group Inc. boosted its position in Citigroup by 6.6% in the first quarter. Patten Group Inc. now owns 1,765 shares of the financial services provider’s stock valued at $105,000 after buying an additional 110 shares during the last quarter. Balentine LLC boosted its position in Citigroup by 20.2% in the second quarter. Balentine LLC now owns 1,617 shares of the financial services provider’s stock valued at $108,000 after buying an additional 272 shares during the last quarter. Finally, Acrospire Investment Management LLC boosted its position in Citigroup by 21.4% in the second quarter. Acrospire Investment Management LLC now owns 1,700 shares of the financial services provider’s stock valued at $114,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 78.59% of the company’s stock.
C has been the topic of a number of recent research reports. Wells Fargo & Company initiated coverage on Citigroup in a research report on Wednesday, August 9th. They issued an “outperform” rating and a $90.00 target price on the stock. set a $74.00 target price on Citigroup and gave the company a “hold” rating in a research report on Friday, August 11th. Keefe, Bruyette & Woods set a $75.00 target price on Citigroup and gave the company a “buy” rating in a research report on Sunday, August 13th. ValuEngine upgraded Citigroup from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Finally, Societe Generale upgraded Citigroup from a “sell” rating to a “hold” rating and upped their price objective for the stock from $63.00 to $70.00 in a research report on Monday, September 11th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $75.83.
Citigroup (NYSE:C) last announced its earnings results on Thursday, October 12th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.10. Citigroup had a return on equity of 7.48% and a net margin of 18.11%. The firm had revenue of $18.17 billion for the quarter, compared to analyst estimates of $17.87 billion. During the same quarter last year, the firm posted $1.24 EPS. The business’s revenue was up 2.3% on a year-over-year basis. analysts expect that Citigroup Inc. will post 5.31 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Monday, November 6th were given a dividend of $0.32 per share. The ex-dividend date was Friday, November 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.70%. Citigroup’s dividend payout ratio (DPR) is 24.66%.
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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