Sunbelt Securities Inc. Acquires 2,999 Shares of Citigroup Inc. (NYSE:C)

Sunbelt Securities Inc. raised its holdings in shares of Citigroup Inc. (NYSE:C) by 3.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 80,269 shares of the company’s stock after acquiring an additional 2,999 shares during the period. Sunbelt Securities Inc.’s holdings in Citigroup were worth $5,025,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. POM Investment Strategies LLC acquired a new position in Citigroup during the second quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Citigroup in the 3rd quarter valued at $31,000. Northwest Investment Counselors LLC bought a new position in Citigroup during the third quarter worth about $28,000. Strategic Investment Solutions Inc. IL acquired a new position in Citigroup in the second quarter valued at about $31,000. Finally, Triad Wealth Partners LLC bought a new stake in shares of Citigroup in the second quarter worth about $32,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Performance

C opened at $72.52 on Wednesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a 1 year low of $47.71 and a 1 year high of $73.38. The business has a fifty day simple moving average of $66.71 and a 200 day simple moving average of $63.48. The company has a market capitalization of $137.15 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 0.81 and a beta of 1.45.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.20. The firm had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.52 EPS. Research analysts expect that Citigroup Inc. will post 5.85 EPS for the current year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s payout ratio is presently 64.93%.

Analyst Ratings Changes

Several analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods raised shares of Citigroup from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $70.00 to $82.00 in a research report on Tuesday, December 3rd. Evercore ISI increased their target price on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, October 16th. Piper Sandler boosted their price target on Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, Oppenheimer boosted their target price on Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $75.63.

Citigroup Company 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.