Lazari Capital Management Inc. Boosts Stake in Citigroup Inc. (NYSE:C)

Lazari Capital Management Inc. lifted its holdings in Citigroup Inc. (NYSE:C) by 6.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,226 shares of the company’s stock after purchasing an additional 843 shares during the quarter. Lazari Capital Management Inc.’s holdings in Citigroup were worth $839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of C. Price T Rowe Associates Inc. MD increased its position in Citigroup by 123.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock valued at $2,005,749,000 after acquiring an additional 17,525,484 shares during the last quarter. Swedbank AB purchased a new stake in Citigroup in the first quarter worth about $253,286,000. Acadian Asset Management LLC increased its position in Citigroup by 527.5% in the second quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock worth $158,521,000 after buying an additional 2,100,135 shares in the last quarter. Caxton Associates LP increased its position in Citigroup by 7,393.3% in the first quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock worth $127,453,000 after buying an additional 1,988,494 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its position in Citigroup by 873.6% in the first quarter. Los Angeles Capital Management LLC now owns 2,138,865 shares of the company’s stock worth $135,262,000 after buying an additional 1,919,170 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

Shares of C opened at $61.83 on Wednesday. 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 cap of $117.94 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 0.69 and a beta of 1.45. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81. The company has a 50 day moving average of $60.76 and a two-hundred day moving average of $61.74.

Citigroup (NYSE:C) last released its earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. The company 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%. Citigroup’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the business earned $1.37 EPS. As a group, analysts predict that Citigroup Inc. will post 5.79 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company 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. The ex-dividend date was Monday, August 5th. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.62%. Citigroup’s dividend payout ratio is currently 62.75%.

Wall Street Analyst Weigh In

C has been the subject of a number of analyst reports. Piper Sandler upped their price target on Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. The Goldman Sachs Group reduced their price target on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Royal Bank of Canada upped their price objective on Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. Evercore ISI upped their price objective on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 3rd. Finally, Argus upped their price objective on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.69.

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.