Citigroup Inc. (NYSE:C) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 7.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,574,829 shares of the company's stock after purchasing an additional 327,838 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.24% of Citigroup worth $324,767,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Jeppson Wealth Management LLC grew its stake in Citigroup by 5.2% during the first quarter. Jeppson Wealth Management LLC now owns 6,237 shares of the company's stock worth $443,000 after buying an additional 311 shares during the period. Tsfg LLC boosted its stake in shares of Citigroup by 107.9% in the first quarter. Tsfg LLC now owns 1,715 shares of the company's stock valued at $122,000 after purchasing an additional 890 shares during the period. Highland Capital Management LLC boosted its stake in shares of Citigroup by 4.5% in the first quarter. Highland Capital Management LLC now owns 205,819 shares of the company's stock valued at $14,611,000 after purchasing an additional 8,808 shares during the period. 3Chopt Investment Partners LLC boosted its stake in shares of Citigroup by 15.2% in the first quarter. 3Chopt Investment Partners LLC now owns 13,834 shares of the company's stock valued at $982,000 after purchasing an additional 1,830 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Citigroup by 23.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 341,330 shares of the company's stock valued at $24,006,000 after purchasing an additional 65,865 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Citigroup

In related news, Director John Cunningham Dugan sold 4,417 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the transaction, the director now owns 13,048 shares of the company's stock, valued at approximately $890,656.48. This trade represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on C shares. Morgan Stanley increased their price objective on shares of Citigroup from $90.00 to $94.00 and gave the company an "overweight" rating in a research note on Monday, June 23rd. Wall Street Zen downgraded shares of Citigroup from a "hold" rating to a "sell" rating in a research note on Friday. Cowen initiated coverage on shares of Citigroup in a research note on Wednesday, May 14th. They set a "hold" rating on the stock. Evercore ISI dropped their target price on shares of Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a report on Tuesday, April 1st. Finally, Truist Financial dropped their target price on shares of Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $84.03.

Citigroup Stock Performance

NYSE:C opened at $84.41 on Friday. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.79. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.52. The company has a 50-day moving average of $74.53 and a 200-day moving average of $73.62. The firm has a market cap of $157.66 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 0.65 and a beta of 1.33.

Citigroup (NYSE:C - Get Free Report) last announced its earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.84 by $0.12. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. The company had revenue of $21.60 billion during the quarter, compared to analysts' expectations of $21.34 billion. Analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup's dividend payout ratio (DPR) is 35.39%.

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.

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