Sumitomo Life Insurance Co. Grows Stock Holdings in Citigroup Inc. (NYSE:C)

Sumitomo Life Insurance Co. lifted its position in Citigroup Inc. (NYSE:C) by 2.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 29,244 shares of the company’s stock after buying an additional 676 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Citigroup were worth $1,831,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. POM Investment Strategies LLC acquired a new stake in Citigroup during the 2nd quarter worth approximately $25,000. Beacon Capital Management LLC increased its position in shares of Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after acquiring an additional 212 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Citigroup in the second quarter valued at $31,000. Triad Wealth Partners LLC purchased a new position in Citigroup in the second quarter valued at $32,000. Finally, Strategic Financial Concepts LLC boosted its holdings in Citigroup by 1,139.7% in the second quarter. Strategic Financial Concepts LLC now owns 52,738 shares of the company’s stock valued at $33,000 after purchasing an additional 48,484 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

C has been the topic of a number of analyst reports. Evercore ISI increased their price target on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday. Bank of America raised their target price on shares of Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday. Barclays boosted their price target on shares of Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday. Morgan Stanley reduced their price objective on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a research report on Thursday, June 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $71.06.

Citigroup Price Performance

Shares of NYSE:C opened at $64.26 on Thursday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. Citigroup Inc. has a one year low of $38.17 and a one year high of $67.81. The company has a 50-day simple moving average of $61.13 and a 200-day simple moving average of $61.91. The stock has a market capitalization of $122.56 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 0.74 and a beta of 1.44.

Citigroup (NYSE:C) last issued its earnings results 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 business had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.52 earnings per share. On average, analysts predict that Citigroup Inc. will post 5.76 EPS for the current year.

Citigroup 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.