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

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Citigroup Inc. (NYSE:C) by 8.7% in the 3rd quarter, Holdings Channel reports. The firm owned 4,541,263 shares of the company’s stock after buying an additional 365,094 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Citigroup were worth $284,283,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Barclays raised their price objective on shares of Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Argus raised their price target on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Morgan Stanley reduced their price objective on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Oppenheimer raised their target price on Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group reduced their price target on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.06.

Citigroup Stock Up 1.7 %

C stock opened at $69.80 on Tuesday. The stock’s 50 day simple moving average is $62.56 and its 200 day simple moving average is $62.42. The company has a market cap of $133.16 billion, a P/E ratio of 20.23, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.94 and a current ratio of 0.96. Citigroup Inc. has a fifty-two week low of $41.93 and a fifty-two week high of $70.20.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. During the same period in the prior year, the firm earned $1.52 earnings per share. Citigroup’s revenue for the quarter was up .9% on a year-over-year basis. On average, research analysts expect that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Monday, November 4th. Citigroup’s dividend payout ratio (DPR) is presently 64.93%.

About Citigroup

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.