King Luther Capital Management Corp Has $7.01 Million Holdings in Citigroup Inc. (NYSE:C)

King Luther Capital Management Corp lifted its stake in shares of Citigroup Inc. (NYSE:C) by 46.0% in the 2nd quarter, Holdings Channel reports. The fund owned 110,442 shares of the company’s stock after acquiring an additional 34,809 shares during the quarter. King Luther Capital Management Corp’s holdings in Citigroup were worth $7,009,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in C. MONECO Advisors LLC boosted its holdings in shares of Citigroup by 2.9% during the 2nd 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. boosted its stake in shares of Citigroup by 4.0% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock valued at $272,000 after purchasing an additional 164 shares in the last quarter. NorthRock Partners LLC grew its holdings in shares of Citigroup by 2.7% during the first quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock worth $398,000 after purchasing an additional 165 shares during the last quarter. Legacy Capital Group California Inc. increased its stake in shares of Citigroup by 1.0% in 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 holdings in Citigroup by 3.0% in the 2nd quarter. Gries Financial LLC now owns 6,000 shares of the company’s stock valued at $381,000 after buying an additional 176 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Performance

Shares of C opened at $62.11 on Friday. The stock has a 50-day moving average of $61.30 and a 200-day moving average of $61.46. Citigroup Inc. has a one year low of $38.17 and a one year high of $67.81. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $118.47 billion, a PE ratio of 17.40, a P/E/G ratio of 0.62 and a beta of 1.45.

Citigroup (NYSE:C) last released 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. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm had revenue of $20.14 billion during the quarter, compared to the consensus estimate of $20.07 billion. During the same quarter in the previous year, the company posted $1.37 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. On average, equities research analysts predict that Citigroup Inc. will post 5.81 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were issued a dividend of $0.56 per share. This is a boost from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Monday, August 5th. Citigroup’s dividend payout ratio (DPR) is currently 62.75%.

Analysts Set New Price Targets

C has been the topic of a number of research reports. The Goldman Sachs Group reduced their target price on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Keefe, Bruyette & Woods increased their price objective on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a report on Thursday, June 20th. Piper Sandler lifted their target price on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Morgan Stanley upped their price target on Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Oppenheimer increased their target price on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.