Independence Bank of Kentucky trimmed its stake in shares of Citigroup Inc. (NYSE:C – Free Report) by 15.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,348 shares of the company’s stock after selling 1,000 shares during the period. Independence Bank of Kentucky’s holdings in Citigroup were worth $246,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. WNY Asset Management LLC grew its stake in Citigroup by 2.7% in the 1st quarter. WNY Asset Management LLC now owns 8,450 shares of the company’s stock valued at $396,000 after buying an additional 225 shares during the last quarter. X Square Capital LLC grew its position in shares of Citigroup by 3.8% in the first quarter. X Square Capital LLC now owns 6,186 shares of the company’s stock valued at $290,000 after purchasing an additional 226 shares during the last quarter. Kingsview Wealth Management LLC increased its stake in shares of Citigroup by 1.0% during the fourth quarter. Kingsview Wealth Management LLC now owns 23,750 shares of the company’s stock worth $1,074,000 after purchasing an additional 227 shares during the period. Telemus Capital LLC lifted its holdings in Citigroup by 5.0% during the 1st quarter. Telemus Capital LLC now owns 4,888 shares of the company’s stock worth $229,000 after purchasing an additional 231 shares during the last quarter. Finally, Sigma Planning Corp boosted its stake in Citigroup by 0.9% in the 1st quarter. Sigma Planning Corp now owns 27,411 shares of the company’s stock valued at $1,285,000 after purchasing an additional 232 shares during the period. 69.26% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on C shares. Societe Generale lowered shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Morgan Stanley reissued an “underweight” rating and set a $45.00 price target on shares of Citigroup in a research report on Tuesday, July 18th. Wells Fargo & Company dropped their price objective on Citigroup from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, August 23rd. Odeon Capital Group raised Citigroup from a “hold” rating to a “buy” rating and set a $50.51 target price on the stock in a report on Tuesday, July 18th. Finally, TheStreet cut Citigroup from a “b-” rating to a “c+” rating in a research report on Wednesday, August 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Citigroup has a consensus rating of “Hold” and a consensus price target of $53.00.
Citigroup Stock Down 1.0 %
Shares of NYSE C opened at $42.71 on Friday. The company’s 50 day moving average price is $44.15 and its 200-day moving average price is $45.93. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.95 and a current ratio of 0.95. Citigroup Inc. has a 52-week low of $40.01 and a 52-week high of $53.23. The company has a market capitalization of $83.14 billion, a P/E ratio of 6.77, a price-to-earnings-growth ratio of 1.66 and a beta of 1.57.
Citigroup (NYSE:C – Get Free Report) last posted its quarterly earnings data on Friday, July 14th. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.02. Citigroup had a return on equity of 6.80% and a net margin of 10.24%. The firm had revenue of $19.44 billion during the quarter, compared to analyst estimates of $19.34 billion. During the same period last year, the company posted $2.30 EPS. The business’s quarterly revenue was down 1.0% on a year-over-year basis. Equities analysts forecast that Citigroup Inc. will post 5.75 earnings per share for the current year.
Citigroup Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Monday, August 7th were given a $0.53 dividend. The ex-dividend date of this dividend was Friday, August 4th. This represents a $2.12 annualized dividend and a yield of 4.96%. This is an increase from Citigroup’s previous quarterly dividend of $0.51. Citigroup’s dividend payout ratio (DPR) is presently 33.60%.
Citigroup Company Profile
Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. It operates through three segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), and Legacy Franchises.
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