Kentucky Retirement Systems Sells 789 Shares of Citigroup Inc. (NYSE:C)

Kentucky Retirement Systems trimmed its holdings in shares of Citigroup Inc. (NYSE:C) by 0.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 143,738 shares of the company’s stock after selling 789 shares during the quarter. Kentucky Retirement Systems’ holdings in Citigroup were worth $9,122,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. POM Investment Strategies LLC purchased a new position in Citigroup in the second quarter worth $25,000. Frazier Financial Advisors LLC bought a new stake in shares of Citigroup in the 4th quarter worth $29,000. Beacon Capital Management LLC boosted its holdings in Citigroup by 85.5% in the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after purchasing an additional 212 shares during the last quarter. Beaird Harris Wealth Management LLC lifted its stake in shares of Citigroup by 1,962.1% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock worth $31,000 after purchasing an additional 569 shares during the period. Finally, Triad Wealth Partners LLC purchased a new stake in Citigroup in the second quarter worth about $32,000. 71.72% of the stock is currently owned by institutional investors.

Citigroup Trading Up 1.0 %

Shares of Citigroup stock opened at $59.89 on Thursday. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $67.81. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $114.24 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 0.62 and a beta of 1.45. The stock has a 50 day moving average of $61.40 and a 200 day moving average of $61.41.

Citigroup (NYSE:C) last announced its earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.13. The company had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. Citigroup’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.37 earnings per share. As a group, research analysts predict that Citigroup Inc. will post 5.81 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were given a $0.56 dividend. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.74%. Citigroup’s payout ratio is presently 62.75%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on C. Piper Sandler boosted their price target on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods lifted their target price on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research report on Thursday, June 20th. Argus raised their price objective on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 15th. BMO Capital Markets lifted their price objective on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Finally, Royal Bank of Canada lifted their price objective on Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.25.

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.