Trustmark National Bank Trust Department Reduces Stake in Citigroup Inc. (NYSE:C)

Trustmark National Bank Trust Department cut its holdings in shares of Citigroup Inc. (NYSE:C) by 8.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 126,235 shares of the company’s stock after selling 11,739 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Citigroup were worth $7,902,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in C. Price T Rowe Associates Inc. MD lifted its holdings in Citigroup by 123.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after buying an additional 17,525,484 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Citigroup by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock valued at $1,904,262,000 after purchasing an additional 250,716 shares during the period. Legal & General Group Plc grew its stake in Citigroup by 5.5% in the second quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock worth $1,105,999,000 after purchasing an additional 913,231 shares during the period. Greenhaven Associates Inc. raised its holdings in Citigroup by 1.5% in the third quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock worth $1,056,900,000 after purchasing an additional 242,545 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Citigroup by 1.8% during the second quarter. Dimensional Fund Advisors LP now owns 9,300,447 shares of the company’s stock valued at $590,106,000 after buying an additional 168,070 shares during the period. Institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on C. Wells Fargo & Company increased their price target on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. The Goldman Sachs Group dropped their price target on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Morgan Stanley reduced their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Bank of America lifted their price objective on Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Oppenheimer increased their target price on Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Citigroup Price Performance

NYSE C opened at $68.28 on Thursday. The stock has a market capitalization of $129.14 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 0.77 and a beta of 1.44. Citigroup Inc. has a 1-year low of $44.56 and a 1-year high of $70.20. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. The business’s fifty day moving average price is $63.84 and its 200-day moving average price is $62.75.

Citigroup (NYSE:C) last posted its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. The company had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. Citigroup’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.52 earnings per share. On average, equities analysts predict that Citigroup Inc. will post 5.85 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were given a $0.56 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 annualized dividend and a yield of 3.28%. Citigroup’s payout ratio is presently 64.93%.

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.