Independence Bank of Kentucky Lowers Stock Position in Citigroup Inc. (NYSE:C)

Independence Bank of Kentucky reduced its stake in shares of Citigroup Inc. (NYSE:CFree Report) by 26.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,963 shares of the company’s stock after selling 709 shares during the period. Independence Bank of Kentucky’s holdings in Citigroup were worth $101,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Carmel Capital Partners LLC purchased a new position in Citigroup in the 3rd quarter worth approximately $25,000. GHP Investment Advisors Inc. lifted its holdings in Citigroup by 73.8% in the 3rd quarter. GHP Investment Advisors Inc. now owns 683 shares of the company’s stock worth $28,000 after purchasing an additional 290 shares in the last quarter. SkyView Investment Advisors LLC purchased a new position in Citigroup in the 1st quarter worth approximately $28,000. AlphaMark Advisors LLC lifted its holdings in Citigroup by 75.0% in the 3rd quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock worth $29,000 after purchasing an additional 300 shares in the last quarter. Finally, Union Savings Bank purchased a new position in Citigroup in the 2nd quarter worth approximately $30,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

C has been the topic of a number of research reports. Morgan Stanley raised Citigroup from an “underweight” rating to an “overweight” rating and lifted their price objective for the stock from $46.00 to $65.00 in a research note on Tuesday, January 30th. Barclays lifted their price objective on Citigroup from $59.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Citigroup in a research note on Monday. Wolfe Research raised Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a research note on Wednesday, January 3rd. Finally, HSBC lifted their price objective on Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.56.

Check Out Our Latest Stock Analysis on Citigroup

Citigroup Stock Performance

Shares of Citigroup stock opened at $61.70 on Thursday. The stock’s fifty day moving average is $57.10 and its two-hundred day moving average is $49.68. The company has a market capitalization of $118.17 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 1.77 and a beta of 1.52. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.52. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $63.90.

Citigroup (NYSE:CGet Free Report) last announced its quarterly earnings data on Friday, January 12th. The company reported ($1.16) EPS for the quarter, missing the consensus estimate of $0.73 by ($1.89). The business had revenue of $17.44 billion during the quarter, compared to the consensus estimate of $18.71 billion. Citigroup had a net margin of 5.88% and a return on equity of 6.49%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same period last year, the company earned $1.10 EPS. As a group, analysts expect that Citigroup Inc. will post 5.83 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.44%. Citigroup’s dividend payout ratio (DPR) is presently 53.13%.

Citigroup Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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