Synovus Financial Corp cut its stake in shares of Citigroup Inc (NYSE:C) by 13.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 139,066 shares of the financial services provider’s stock after selling 21,813 shares during the period. Synovus Financial Corp’s holdings in Citigroup were worth $9,977,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. Principal Financial Group Inc. grew its holdings in shares of Citigroup by 1.3% during the first quarter. Principal Financial Group Inc. now owns 4,167,300 shares of the financial services provider’s stock worth $281,292,000 after buying an additional 53,619 shares in the last quarter. IFM Investors Pty Ltd grew its holdings in shares of Citigroup by 41.2% during the second quarter. IFM Investors Pty Ltd now owns 116,374 shares of the financial services provider’s stock worth $7,788,000 after buying an additional 33,956 shares in the last quarter. Thompson Investment Management Inc. grew its holdings in shares of Citigroup by 0.7% during the second quarter. Thompson Investment Management Inc. now owns 140,797 shares of the financial services provider’s stock worth $9,422,000 after buying an additional 1,045 shares in the last quarter. Farmers Trust Co. grew its holdings in shares of Citigroup by 4.1% during the second quarter. Farmers Trust Co. now owns 58,112 shares of the financial services provider’s stock worth $3,889,000 after buying an additional 2,267 shares in the last quarter. Finally, Empirical Finance LLC grew its holdings in shares of Citigroup by 41.2% during the second quarter. Empirical Finance LLC now owns 4,674 shares of the financial services provider’s stock worth $313,000 after buying an additional 1,364 shares in the last quarter. Institutional investors own 74.79% of the company’s stock.
C has been the subject of a number of analyst reports. Wolfe Research initiated coverage on shares of Citigroup in a report on Tuesday, September 25th. They issued an “outperform” rating for the company. ValuEngine lowered shares of Citigroup from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Deutsche Bank upped their price objective on shares of Citigroup from $76.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, September 27th. BMO Capital Markets upped their price objective on shares of Citigroup to $92.00 and gave the company a “market perform” rating in a report on Monday, October 15th. Finally, Wells Fargo & Co set a $100.00 price objective on shares of Citigroup and gave the company a “buy” rating in a report on Monday, August 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $82.91.
In other news, CEO Francisco Aristeguieta sold 15,000 shares of the stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $72.36, for a total transaction of $1,085,400.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.11% of the stock is currently owned by corporate insiders.
Shares of C stock opened at $65.92 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.32. The stock has a market cap of $169.42 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 0.86 and a beta of 1.47. Citigroup Inc has a 1-year low of $63.18 and a 1-year high of $80.70.
Citigroup (NYSE:C) last announced its earnings results on Friday, October 12th. The financial services provider reported $1.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.07. The company had revenue of $18.39 billion during the quarter, compared to analyst estimates of $18.43 billion. Citigroup had a negative net margin of 4.81% and a positive return on equity of 9.42%. During the same quarter last year, the firm posted $1.42 earnings per share. Equities research analysts anticipate that Citigroup Inc will post 6.69 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Monday, November 5th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Friday, November 2nd. Citigroup’s dividend payout ratio (DPR) is presently 33.77%.
Citigroup Company Profile
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.
Further Reading: Stock Symbols and CUSIP Explained
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