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

Independence Bank of Kentucky boosted its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 34.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,218 shares of the company's stock after buying an additional 3,665 shares during the period. Independence Bank of Kentucky's holdings in Citigroup were worth $1,009,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in C. Core Alternative Capital lifted its holdings in Citigroup by 83.4% in the fourth quarter. Core Alternative Capital now owns 376 shares of the company's stock valued at $26,000 after acquiring an additional 171 shares during the last quarter. Orion Capital Management LLC acquired a new position in shares of Citigroup in the 4th quarter valued at $28,000. American National Bank & Trust acquired a new position in shares of Citigroup in the 1st quarter valued at $29,000. Mascagni Wealth Management Inc. purchased a new position in shares of Citigroup during the 4th quarter worth $34,000. Finally, Creative Capital Management Investments LLC acquired a new stake in shares of Citigroup during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 71.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $92.00 target price (down previously from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. Wall Street Zen upgraded Citigroup from a "sell" rating to a "hold" rating in a research report on Sunday, June 1st. Evercore ISI cut their price objective on Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a report on Tuesday, April 1st. Morgan Stanley decreased their target price on Citigroup from $110.00 to $109.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Finally, Bank of America dropped their target price on Citigroup from $90.00 to $89.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $83.97.

Insider Transactions at Citigroup

In other news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the sale, the director now owns 13,048 shares in the company, valued at approximately $890,656.48. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.08% of the company's stock.

Citigroup Stock Performance

Shares of C stock opened at $78.32 on Friday. The company has a market cap of $146.28 billion, a P/E ratio of 13.16, a PEG ratio of 0.64 and a beta of 1.33. The firm has a fifty day moving average price of $69.43 and a 200 day moving average price of $72.75. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.84 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. Sell-side analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $2.24 dividend on an annualized basis and a yield of 2.86%. Citigroup's payout ratio is currently 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.

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