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

Sumitomo Life Insurance Co. decreased its holdings in shares of Citigroup Inc. (NYSE:C) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,528 shares of the company’s stock after selling 1,708 shares during the period. Sumitomo Life Insurance Co.’s holdings in Citigroup were worth $1,725,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Lecap Asset Management Ltd. acquired a new stake in shares of Citigroup in the 4th quarter worth about $612,000. Louisiana State Employees Retirement System acquired a new position in shares of Citigroup during the fourth quarter valued at $5,952,000. MV Capital Management Inc. raised its stake in shares of Citigroup by 25.2% during the fourth quarter. MV Capital Management Inc. now owns 3,395 shares of the company’s stock valued at $175,000 after purchasing an additional 683 shares in the last quarter. Simplicity Solutions LLC lifted its holdings in Citigroup by 17.6% in the fourth quarter. Simplicity Solutions LLC now owns 27,791 shares of the company’s stock worth $1,430,000 after purchasing an additional 4,150 shares during the period. Finally, Graypoint LLC grew its position in Citigroup by 53.5% in the 4th quarter. Graypoint LLC now owns 9,980 shares of the company’s stock valued at $513,000 after buying an additional 3,478 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Stock Performance

Shares of C stock opened at $59.68 on Monday. The stock’s fifty day simple moving average is $57.91 and its 200-day simple moving average is $50.69. The company has a market capitalization of $114.30 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 0.93 and a beta of 1.52. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $63.90.

Citigroup (NYSE:C) last released its earnings results on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.29. The company had revenue of $21.10 billion for the quarter, compared to analysts’ expectations of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.86 EPS. On average, sell-side analysts predict that Citigroup Inc. will post 5.73 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Friday, May 3rd. Citigroup’s dividend payout ratio (DPR) is currently 62.72%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on C shares. StockNews.com raised shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Morgan Stanley raised Citigroup from an “underweight” rating to an “overweight” rating and boosted their price objective for the stock from $46.00 to $65.00 in a research note on Tuesday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Citigroup in a research note on Monday, April 1st. BMO Capital Markets lowered Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 target price on the stock. in a report on Wednesday, January 10th. Finally, Daiwa Capital Markets raised shares of Citigroup from a “neutral” rating to a “buy” rating and set a $63.00 price target for the company in a report on Monday, December 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.50.

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.