Synovus Financial Corp Has $6.46 Million Holdings in Citigroup Inc. (NYSE:C)

Synovus Financial Corp increased its position in shares of Citigroup Inc. (NYSE:C) by 2.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 103,222 shares of the company’s stock after purchasing an additional 2,092 shares during the period. Synovus Financial Corp’s holdings in Citigroup were worth $6,462,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Geode Capital Management LLC boosted its holdings in Citigroup by 2.0% during the third quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock valued at $2,492,238,000 after purchasing an additional 791,758 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Citigroup by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock worth $1,904,262,000 after buying an additional 250,716 shares during the period. Fisher Asset Management LLC boosted its stake in Citigroup by 3.2% in the 3rd quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock valued at $1,813,544,000 after buying an additional 911,694 shares in the last quarter. Legal & General Group Plc grew its position in Citigroup by 5.5% in the second quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock valued at $1,105,999,000 after acquiring an additional 913,231 shares during the period. Finally, Greenhaven Associates Inc. raised its stake in Citigroup by 1.5% during the third quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock worth $1,056,900,000 after acquiring an additional 242,545 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Performance

Shares of Citigroup stock opened at $71.01 on Friday. The stock’s fifty day simple moving average is $67.28 and its 200 day simple moving average is $63.65. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $134.30 billion, a PE ratio of 20.58, a PEG ratio of 0.80 and a beta of 1.45. Citigroup Inc. has a 12 month low of $49.17 and a 12 month high of $73.38.

Citigroup (NYSE:C) last announced its 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. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The firm had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. During the same period last year, the company posted $1.52 EPS. The business’s quarterly revenue was up .9% on a year-over-year basis. On average, research analysts predict that Citigroup Inc. will post 5.86 EPS for the current year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.15%. Citigroup’s payout ratio is presently 64.93%.

Wall Street Analyst Weigh In

Several analysts have weighed in on C shares. Bank of America upped their price objective on shares of Citigroup from $78.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. The Goldman Sachs Group increased their price target on Citigroup from $72.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Oppenheimer lifted their price objective on Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Wells Fargo & Company increased their target price on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Barclays lifted their price target on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $75.63.

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.