Kornitzer Capital Management Inc. KS Acquires 3,625 Shares of Citigroup Inc. (NYSE:C)

Kornitzer Capital Management Inc. KS increased its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 6.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 60,932 shares of the company's stock after buying an additional 3,625 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Citigroup were worth $4,326,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in Citigroup in the 4th quarter valued at about $1,935,599,000. Capital World Investors lifted its holdings in shares of Citigroup by 455.2% in the fourth quarter. Capital World Investors now owns 31,352,582 shares of the company's stock valued at $2,206,908,000 after purchasing an additional 25,705,141 shares in the last quarter. FMR LLC boosted its position in shares of Citigroup by 29.7% during the fourth quarter. FMR LLC now owns 34,362,176 shares of the company's stock valued at $2,418,754,000 after buying an additional 7,863,718 shares during the last quarter. Franklin Resources Inc. raised its position in Citigroup by 9.3% in the 4th quarter. Franklin Resources Inc. now owns 32,832,063 shares of the company's stock valued at $2,311,048,000 after buying an additional 2,804,850 shares during the last quarter. Finally, Capital International Investors raised its position in Citigroup by 148.6% in the 4th quarter. Capital International Investors now owns 4,524,890 shares of the company's stock valued at $318,507,000 after buying an additional 2,704,783 shares during the last quarter. Institutional investors own 71.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on C. Oppenheimer set a $123.00 target price on Citigroup and gave the company an "outperform" rating in a report on Wednesday. Royal Bank Of Canada cut their price target on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. The Goldman Sachs Group lifted their price objective on shares of Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Evercore ISI set a $77.00 target price on shares of Citigroup in a research report on Monday, July 7th. Finally, Keefe, Bruyette & Woods reaffirmed a "buy" rating on shares of Citigroup in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $96.46.

Citigroup Trading Up 0.4%

Citigroup stock traded up $0.35 during mid-day trading on Friday, hitting $93.44. The company's stock had a trading volume of 16,590,582 shares, compared to its average volume of 14,675,328. The business has a 50 day moving average price of $80.43 and a 200-day moving average price of $75.45. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $93.80. The stock has a market cap of $174.52 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 0.68 and a beta of 1.34.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.61 by $0.35. The company had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.52 earnings per share. As a group, analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be paid a dividend of $0.60 per share. This is a positive change from Citigroup's previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Monday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.57%. Citigroup's payout ratio is presently 33.09%.

Insider Transactions at Citigroup

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the sale, the director directly owned 2,140 shares of the company's stock, valued at approximately $193,456. The trade was a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Cunningham Dugan sold 4,417 shares of the company's 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 completion of the transaction, the director owned 13,048 shares in the company, valued at approximately $890,656.48. The trade was a 25.29% decrease in their position. The disclosure for this sale can be found here. 0.08% of the stock is owned by corporate insiders.

Citigroup Company 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.