Stock Yards Bank & Trust Co. Trims Stake in Citigroup Inc. (NYSE:C)

Stock Yards Bank & Trust Co. cut its position in shares of Citigroup Inc. (NYSE:C) by 4.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,086 shares of the company’s stock after selling 365 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Citigroup were worth $450,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. MONECO Advisors LLC raised its holdings in shares of Citigroup by 2.9% in the second quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock valued at $352,000 after acquiring an additional 157 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its position in shares of Citigroup by 4.0% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock worth $272,000 after purchasing an additional 164 shares during the period. NorthRock Partners LLC boosted its stake in shares of Citigroup by 2.7% during the first quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock valued at $398,000 after purchasing an additional 165 shares in the last quarter. Legacy Capital Group California Inc. increased its holdings in Citigroup by 1.0% during the second quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock valued at $1,053,000 after buying an additional 169 shares during the period. Finally, Gries Financial LLC raised its stake in Citigroup by 3.0% in the second quarter. Gries Financial LLC now owns 6,000 shares of the company’s stock worth $381,000 after buying an additional 176 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on C. Keefe, Bruyette & Woods lifted their price target on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. Evercore ISI boosted their target price on shares of Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a report on Wednesday, July 3rd. Royal Bank of Canada raised their price target on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, June 17th. Morgan Stanley boosted their price objective on shares of Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, BMO Capital Markets increased their target price on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Citigroup has a consensus rating of “Moderate Buy” and a consensus price target of $68.25.

Citigroup Trading Up 1.5 %

Citigroup stock opened at $59.30 on Wednesday. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $67.81. The stock has a 50-day moving average price of $61.54 and a 200 day moving average price of $61.42. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $113.10 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 0.62 and a beta of 1.45.

Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 12th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.39 by $0.13. The business had revenue of $20.14 billion during the quarter, compared to analysts’ expectations of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.37 EPS. Sell-side analysts anticipate that Citigroup Inc. will post 5.81 EPS for the current year.

Citigroup Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend was Monday, August 5th. This is a boost from Citigroup’s previous quarterly dividend of $0.53. Citigroup’s payout ratio is 62.75%.

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.