Lazari Capital Management Inc. Increases Holdings in Citigroup Inc. (NYSE:C)

Lazari Capital Management Inc. lifted its position in shares of Citigroup Inc. (NYSE:C) by 6.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 13,226 shares of the company’s stock after acquiring an additional 843 shares during the quarter. Lazari Capital Management Inc.’s holdings in Citigroup were worth $839,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new position in shares of Citigroup during the 2nd quarter worth $8,471,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Citigroup during the 2nd quarter valued at about $370,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Citigroup during the 2nd quarter valued at about $31,000. Clearbridge Investments LLC raised its holdings in shares of Citigroup by 99.2% during the 2nd quarter. Clearbridge Investments LLC now owns 45,591 shares of the company’s stock valued at $2,893,000 after buying an additional 22,706 shares in the last quarter. Finally, Dana Investment Advisors Inc. raised its holdings in shares of Citigroup by 1.5% during the 2nd quarter. Dana Investment Advisors Inc. now owns 20,968 shares of the company’s stock valued at $1,331,000 after buying an additional 312 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Trading Down 1.2 %

NYSE 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. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $67.81. The firm has a market capitalization of $117.94 billion, a PE ratio of 17.32, a P/E/G ratio of 0.69 and a beta of 1.45. The stock’s 50 day moving average is $60.76 and its 200 day moving average is $61.74.

Citigroup (NYSE:C) last released 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. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The business had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. During the same period in the previous year, the company posted $1.37 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. Research analysts forecast that Citigroup Inc. will post 5.79 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.62%. This is an increase from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, August 5th. Citigroup’s payout ratio is 62.75%.

Wall Street Analysts Forecast Growth

C has been the topic of a number of research reports. Piper Sandler raised their price objective on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Oppenheimer raised their price objective on Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Evercore ISI lifted their price target on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods lifted their price target on Citigroup from $66.00 to $69.00 and gave the stock a “market perform” rating in a research note on Thursday, June 20th. Finally, Morgan Stanley lifted their price target on Citigroup from $79.00 to $86.00 and gave the stock an “overweight” rating in a research note on Monday. One investment 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.69.

About Citigroup

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.