Sumitomo Mitsui Trust Holdings Inc. Sells 111,558 Shares of Citigroup Inc. (NYSE:C)

Sumitomo Mitsui Trust Holdings Inc. lowered its holdings in shares of Citigroup Inc. (NYSE:C) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,897,721 shares of the company’s stock after selling 111,558 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.26% of Citigroup worth $251,939,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Meridian Wealth Management LLC boosted its holdings in Citigroup by 130.4% in the third quarter. Meridian Wealth Management LLC now owns 175,576 shares of the company’s stock worth $7,221,000 after purchasing an additional 99,371 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Citigroup in the third quarter worth approximately $209,000. Allspring Global Investments Holdings LLC boosted its holdings in Citigroup by 56.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,245,693 shares of the company’s stock worth $64,078,000 after purchasing an additional 449,310 shares during the last quarter. GFS Advisors LLC purchased a new stake in Citigroup in the fourth quarter worth approximately $2,003,000. Finally, Sound Income Strategies LLC boosted its holdings in Citigroup by 9.1% in the fourth quarter. Sound Income Strategies LLC now owns 258,150 shares of the company’s stock worth $13,279,000 after purchasing an additional 21,440 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of Citigroup from $54.00 to $66.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of Citigroup in a research report on Monday, April 1st. Wolfe Research upgraded shares of Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a research report on Wednesday, January 3rd. HSBC increased their price target on shares of Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Finally, Jefferies Financial Group increased their price target on shares of Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. One equities research 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.50.

Citigroup Stock Performance

Shares of NYSE C opened at $59.68 on Monday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $114.30 billion, a P/E ratio of 17.66, a P/E/G ratio of 0.93 and a beta of 1.52. The firm’s fifty day moving average is $57.91 and its two-hundred day moving average is $50.69. Citigroup Inc. has a 52-week low of $38.17 and a 52-week high of $63.90.

Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.29. The company had revenue of $21.10 billion for the quarter, compared to the consensus estimate of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. Citigroup’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.86 EPS. As a group, analysts anticipate that Citigroup Inc. will post 5.73 EPS for the current fiscal year.

Citigroup Dividend Announcement

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

Citigroup Profile

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.