Synovus Financial Corp increased its stake in shares of Citigroup Inc (NYSE:C) by 101.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,581 shares of the financial services provider’s stock after acquiring an additional 49,109 shares during the period. Synovus Financial Corp’s holdings in Citigroup were worth $7,097,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Catamount Wealth Management acquired a new stake in Citigroup in the 2nd quarter valued at $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in Citigroup by 206.0% in the 2nd 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. Balentine LLC increased its stake in Citigroup by 20.2% in the 2nd 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. Acrospire Investment Management LLC increased its stake in Citigroup by 21.4% in the 2nd 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. Finally, Shine Investment Advisory Services Inc. acquired a new stake in Citigroup in the 2nd quarter valued at $123,000. Institutional investors and hedge funds own 78.61% of the company’s stock.
C has been the topic of several recent research reports. Bank of America reiterated a “neutral” rating on shares of Citigroup in a research note on Wednesday, October 11th. Wells Fargo & Co reissued a “buy” rating on shares of Citigroup in a research report on Monday, October 2nd. Keefe, Bruyette & Woods lifted their price objective on shares of Citigroup from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, December 14th. Atlantic Securities reissued an “overweight” rating and issued a $85.00 price objective (up previously from $75.00) on shares of Citigroup in a research report on Tuesday, September 26th. Finally, Nomura set a $87.00 price objective on shares of Citigroup and gave the company a “buy” rating in a research report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Citigroup presently has a consensus rating of “Buy” and a consensus target price of $79.30.
Citigroup (NYSE:C) last announced its earnings results on Tuesday, January 16th. The financial services provider reported $1.28 EPS for the quarter, topping the consensus estimate of $1.19 by $0.09. The business had revenue of $17.26 billion during the quarter, compared to the consensus estimate of $17.23 billion. Citigroup had a negative net margin of 7.05% and a positive return on equity of 7.60%. Citigroup’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.14 EPS. analysts forecast that Citigroup Inc will post 6.33 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Monday, February 5th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Friday, February 2nd. Citigroup’s payout ratio is -41.29%.
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Citigroup Company Profile
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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