Cadence Bank Boosts Stake in Citigroup Inc. (NYSE:C)

Cadence Bank increased its holdings in Citigroup Inc. (NYSE:C) by 14.5% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,011 shares of the company’s stock after buying an additional 507 shares during the quarter. Cadence Bank’s holdings in Citigroup were worth $251,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Citigroup by 13.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock valued at $4,653,000 after buying an additional 8,593 shares during the period. BDF Gestion bought a new position in Citigroup in the second quarter valued at about $3,861,000. KBC Group NV boosted its position in Citigroup by 1.8% in the third quarter. KBC Group NV now owns 1,138,511 shares of the company’s stock worth $71,270,000 after purchasing an additional 20,291 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in Citigroup by 4.9% in the third quarter. Crossmark Global Holdings Inc. now owns 394,738 shares of the company’s stock worth $24,710,000 after purchasing an additional 18,278 shares during the last quarter. Finally, Summit Global Investments grew its stake in shares of Citigroup by 289.5% during the 3rd quarter. Summit Global Investments now owns 30,640 shares of the company’s stock valued at $1,918,000 after purchasing an additional 22,774 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Citigroup Price Performance

C stock opened at $70.16 on Friday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. The company’s fifty day moving average price is $64.98 and its 200-day moving average price is $62.99. Citigroup Inc. has a one year low of $44.56 and a one year high of $71.19. The company has a market capitalization of $132.69 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 0.79 and a beta of 1.44.

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

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s payout ratio is presently 64.93%.

Analysts Set New Price Targets

A number of research firms recently issued reports on C. Bank of America raised their price objective on shares of Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Barclays increased their price target on shares of Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Evercore ISI upped their price objective on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group decreased their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, Wells Fargo & Company boosted their price target on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $73.00.

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.