Kennedy Investment Group Invests $285,000 in Citigroup Inc. (NYSE:C)

Kennedy Investment Group acquired a new position in shares of Citigroup Inc. (NYSE:C - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 4,014 shares of the company's stock, valued at approximately $285,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after buying an additional 12,499 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of Citigroup in the fourth quarter worth $10,400,000. Concurrent Investment Advisors LLC increased its position in shares of Citigroup by 14.0% in the fourth quarter. Concurrent Investment Advisors LLC now owns 17,475 shares of the company's stock worth $1,230,000 after acquiring an additional 2,149 shares in the last quarter. Bradley Foster & Sargent Inc. CT acquired a new stake in Citigroup in the 4th quarter valued at $278,000. Finally, Blackston Financial Advisory Group LLC increased its holdings in Citigroup by 3.7% in the 4th quarter. Blackston Financial Advisory Group LLC now owns 4,636 shares of the company's stock valued at $326,000 after purchasing an additional 166 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Up 0.1%

Shares of NYSE:C opened at $78.39 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.52. The company has a fifty day simple moving average of $72.60 and a 200 day simple moving average of $73.27. The firm has a market cap of $146.41 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 0.60 and a beta of 1.33. 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 released its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.12. The company had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. On average, equities research analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.86%. The ex-dividend date was Monday, May 5th. Citigroup's dividend payout ratio is currently 35.39%.

Insider Activity at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the completion of the sale, the director now owns 13,048 shares in the company, valued at $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 available at this link. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on C. Morgan Stanley lowered their price target on Citigroup from $110.00 to $109.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Bank of America lowered their target price on Citigroup from $90.00 to $89.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Piper Sandler reaffirmed an "overweight" rating and issued a $77.00 price objective (down previously from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. JPMorgan Chase & Co. lowered their price objective on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Finally, Cowen started coverage on shares of Citigroup in a report on Wednesday, May 14th. They set a "hold" rating for the company. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $84.30.

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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