Citigroup Inc. (NYSE:C) Shares Purchased by Independence Bank of Kentucky

Independence Bank of Kentucky boosted its holdings in shares of Citigroup Inc. (NYSE:C) by 34.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 14,218 shares of the company’s stock after purchasing an additional 3,665 shares during the period. Independence Bank of Kentucky’s holdings in Citigroup were worth $1,009,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. lifted its holdings in shares of Citigroup by 3.4% during the fourth quarter. American Century Companies Inc. now owns 352,948 shares of the company’s stock worth $24,844,000 after purchasing an additional 11,674 shares during the period. Invesco Ltd. raised its position in Citigroup by 13.8% during the 4th quarter. Invesco Ltd. now owns 16,247,095 shares of the company’s stock worth $1,143,633,000 after buying an additional 1,970,300 shares during the last quarter. Candriam S.C.A. lifted its stake in shares of Citigroup by 12.7% in the 4th quarter. Candriam S.C.A. now owns 200,860 shares of the company’s stock worth $14,139,000 after acquiring an additional 22,657 shares during the period. Brighton Jones LLC lifted its stake in shares of Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after acquiring an additional 12,499 shares during the period. Finally, Unified Investment Management purchased a new stake in shares of Citigroup in the fourth quarter valued at about $658,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on C shares. Bank of America cut their price target on shares of Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. The Goldman Sachs Group cut their target price on Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. Wall Street Zen upgraded Citigroup from a “sell” rating to a “hold” rating in a research note on Sunday, June 1st. Oppenheimer reaffirmed an “outperform” rating on shares of Citigroup in a report on Tuesday, May 20th. Finally, Royal Bank of Canada reduced their target price on Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a report on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.97.

Insider Activity

In other news, Director John Cunningham Dugan sold 4,417 shares of the company’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the sale, the director now directly owns 13,048 shares in the company, valued at $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.08% of the company’s stock.

Citigroup Stock Up 2.2%

C opened at $78.32 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $146.28 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 0.64 and a beta of 1.33. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The business’s fifty day moving average is $69.43 and its two-hundred day moving average is $72.75.

Citigroup (NYSE:C) last released its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.84 by $0.12. The business had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. Analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup’s dividend payout ratio (DPR) is presently 35.39%.

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.