King Luther Capital Management Corp Increases Stake in Citigroup Inc. (NYSE:C)

King Luther Capital Management Corp boosted its position in shares of Citigroup Inc. (NYSE:C) by 46.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 110,442 shares of the company’s stock after purchasing an additional 34,809 shares during the quarter. King Luther Capital Management Corp’s holdings in Citigroup were worth $7,009,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Gryphon Financial Partners LLC increased its stake in Citigroup by 215.7% during the 4th quarter. Gryphon Financial Partners LLC now owns 15,561 shares of the company’s stock worth $800,000 after buying an additional 10,632 shares during the period. Corient Private Wealth LLC grew its holdings in Citigroup by 1.8% during the fourth quarter. Corient Private Wealth LLC now owns 398,801 shares of the company’s stock worth $20,514,000 after acquiring an additional 7,139 shares during the period. CreativeOne Wealth LLC bought a new position in shares of Citigroup in the fourth quarter valued at $264,000. EverSource Wealth Advisors LLC lifted its stake in Citigroup by 17.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,220 shares of the company’s stock valued at $217,000 after buying an additional 628 shares in the last quarter. Finally, Frazier Financial Advisors LLC acquired a new position in shares of Citigroup in the 4th quarter valued at about $29,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Down 1.4 %

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

Citigroup (NYSE:C) last announced its earnings results on Friday, July 12th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.39 by $0.13. The company had revenue of $20.14 billion for the quarter, compared to analysts’ expectations of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.37 earnings per share. As a group, sell-side analysts predict that Citigroup Inc. will post 5.81 EPS for the current fiscal year.

Citigroup Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.61%. This is an increase from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. Citigroup’s dividend payout ratio (DPR) is currently 62.75%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on C shares. Piper Sandler boosted their price objective 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 boosted their price target on Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research note on Thursday, June 20th. Morgan Stanley upped their price target on Citigroup from $66.00 to $79.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada lifted their price objective on Citigroup from $63.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. Finally, BMO Capital Markets raised their target price on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Citigroup presently has an average 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.