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

Trustmark National Bank Trust Department lessened its stake in shares of Citigroup Inc. (NYSE:C) by 8.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 126,235 shares of the company’s stock after selling 11,739 shares during the period. Trustmark National Bank Trust Department’s holdings in Citigroup were worth $7,902,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. POM Investment Strategies LLC purchased a new stake in Citigroup in the 2nd quarter worth about $25,000. Northwest Investment Counselors LLC bought a new stake in shares of Citigroup in the third quarter valued at approximately $28,000. Beacon Capital Management LLC lifted its stake in shares of Citigroup by 85.5% during the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after buying an additional 212 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Citigroup in the 2nd quarter worth approximately $31,000. Finally, Triad Wealth Partners LLC purchased a new position in Citigroup in the 2nd quarter valued at approximately $32,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. The Goldman Sachs Group cut their price target on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Wells Fargo & Company lifted their target price on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Bank of America increased their price target on shares of Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Oppenheimer boosted their price objective on shares of Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, Barclays increased their target price on shares of Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $73.00.

Citigroup Stock Down 0.5 %

Shares of C opened at $68.28 on Thursday. The firm has a market cap of $129.14 billion, a P/E ratio of 19.79, a P/E/G 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 stock has a 50 day simple moving average of $63.84 and a two-hundred day simple moving average of $62.75. 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 (NYSE:C) last released its earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.31 by $0.20. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The company had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. During the same quarter last year, the firm earned $1.52 EPS. The firm’s quarterly revenue was up .9% compared to the same quarter last year. On average, analysts forecast that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently disclosed 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 currently 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.