Kornitzer Capital Management Inc. KS Acquires 14,650 Shares of Citigroup Inc. (NYSE:C)

Kornitzer Capital Management Inc. KS grew its holdings in shares of Citigroup Inc. (NYSE:C) by 40.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,545 shares of the company’s stock after acquiring an additional 14,650 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Citigroup were worth $3,208,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Kentucky Retirement Systems grew its position in Citigroup by 2.6% during the 4th quarter. Kentucky Retirement Systems now owns 153,131 shares of the company’s stock worth $7,877,000 after acquiring an additional 3,808 shares during the last quarter. TD Asset Management Inc increased its stake in shares of Citigroup by 21.8% in the fourth quarter. TD Asset Management Inc now owns 967,655 shares of the company’s stock worth $49,776,000 after buying an additional 173,137 shares during the period. Lloyd Advisory Services LLC. raised its holdings in Citigroup by 355.9% during the 1st quarter. Lloyd Advisory Services LLC. now owns 19,115 shares of the company’s stock valued at $1,209,000 after buying an additional 14,922 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Citigroup by 13.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 73,317 shares of the company’s stock valued at $4,653,000 after buying an additional 8,593 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in Citigroup by 13.4% during the 1st quarter. Lazard Asset Management LLC now owns 201,456 shares of the company’s stock valued at $12,739,000 after buying an additional 23,774 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on C. Keefe, Bruyette & Woods upped their price objective on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research note on Thursday, June 20th. Oppenheimer upped their price target on Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. BMO Capital Markets lifted their price objective on Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Evercore ISI boosted their target price on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research note on Wednesday, July 3rd. Finally, Argus raised their price target on Citigroup from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and an average price target of $68.06.

Citigroup Trading Down 0.6 %

Shares of NYSE C opened at $60.62 on Friday. Citigroup Inc. has a 1 year low of $38.17 and a 1 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 firm has a 50-day moving average of $62.52 and a 200 day moving average of $61.18. The stock has a market cap of $115.63 billion, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 0.68 and a beta of 1.46.

Citigroup (NYSE:C) last issued its quarterly 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. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm had revenue of $20.14 billion for the quarter, compared to analysts’ expectations of $20.07 billion. During the same period in the previous year, the firm posted $1.37 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, sell-side analysts expect that Citigroup Inc. will post 5.82 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were paid a $0.56 dividend. 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 3.70%. The ex-dividend date of this dividend was Monday, August 5th. Citigroup’s dividend payout ratio is currently 62.75%.

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.