Penobscot Investment Management Company Inc. Acquires 1,150 Shares of Citigroup Inc. (NYSE:C)

Penobscot Investment Management Company Inc. lifted its holdings in shares of Citigroup Inc. (NYSE:C) by 3.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 35,313 shares of the company’s stock after acquiring an additional 1,150 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Citigroup were worth $2,507,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Orion Capital Management LLC bought a new position in Citigroup during the 4th quarter valued at about $28,000. American National Bank & Trust bought a new position in Citigroup during the 1st quarter valued at about $29,000. Mascagni Wealth Management Inc. bought a new position in Citigroup during the 4th quarter valued at about $34,000. Runnymede Capital Advisors Inc. bought a new position in Citigroup during the 4th quarter valued at about $39,000. Finally, Whipplewood Advisors LLC lifted its holdings in Citigroup by 79.2% during the 1st quarter. Whipplewood Advisors LLC now owns 570 shares of the company’s stock valued at $40,000 after purchasing an additional 252 shares during the last quarter. 71.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Royal Bank Of Canada cut their price target on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating for the company in a report on Wednesday, April 16th. Morgan Stanley boosted their target price on shares of Citigroup from $90.00 to $94.00 and gave the stock an “overweight” rating in a research note on Monday. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Citigroup in a research note on Tuesday. Cowen assumed coverage on shares of Citigroup in a research note on Wednesday, May 14th. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. dropped their target price on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $83.30.

Citigroup Stock Up 1.8%

Shares of NYSE:C opened at $82.64 on Thursday. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The company has a 50 day moving average of $73.68 and a 200-day moving average of $73.45. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $154.35 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 0.63 and a beta of 1.33.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.84 by $0.12. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. The company had revenue of $21.60 billion during the quarter, compared to analysts’ expectations of $21.34 billion. On average, sell-side analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 2.71%. The ex-dividend date was Monday, May 5th. Citigroup’s dividend payout ratio is 35.39%.

Insider Transactions at Citigroup

In related news, Director John Cunningham Dugan sold 4,417 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 13,048 shares in the company, valued at approximately $890,656.48. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is owned by corporate insiders.

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.