Kentucky Retirement Systems Insurance Trust Fund Sells 5,038 Shares of Citigroup Inc. (NYSE:C)

Kentucky Retirement Systems Insurance Trust Fund cut its stake in Citigroup Inc. (NYSE:C) by 8.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,485 shares of the company’s stock after selling 5,038 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Citigroup were worth $3,536,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. POM Investment Strategies LLC bought a new stake in Citigroup during the second quarter worth about $25,000. Northwest Investment Counselors LLC bought a new stake in Citigroup in the third quarter valued at about $28,000. Beacon Capital Management LLC grew its holdings in Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after purchasing an additional 212 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Citigroup in the second quarter worth $31,000. Finally, Triad Wealth Partners LLC acquired a new stake in Citigroup during the 2nd quarter worth $32,000. Institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on C shares. Bank of America raised their target price on shares of Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Barclays increased their price target on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Evercore ISI lifted their price objective on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group decreased their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, Morgan Stanley decreased their price target on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Citigroup Price Performance

Shares of C opened at $68.76 on Friday. The business has a 50-day moving average of $63.21 and a 200-day moving average of $62.59. Citigroup Inc. has a 1 year low of $44.32 and a 1 year high of $70.20. The company has a market capitalization of $130.04 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business had revenue of $20.32 billion for the quarter, compared to analysts’ expectations of $19.86 billion. During the same quarter in the prior year, the firm posted $1.52 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year. As a group, equities research analysts anticipate that Citigroup Inc. will post 5.85 earnings per share for the current year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s payout ratio is 64.93%.

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.