LRI Investments LLC Acquires 4,021 Shares of Citigroup Inc. (NYSE:C)

LRI Investments LLC raised its holdings in shares of Citigroup Inc. (NYSE:C) by 80.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,040 shares of the company’s stock after acquiring an additional 4,021 shares during the period. LRI Investments LLC’s holdings in Citigroup were worth $616,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Bank of New York Mellon Corp grew its position in Citigroup by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 30,007,284 shares of the company’s stock valued at $1,904,262,000 after acquiring an additional 250,716 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Citigroup by 3.2% during the third quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock valued at $1,813,544,000 after purchasing an additional 911,694 shares during the period. Legal & General Group Plc boosted its stake in shares of Citigroup by 5.5% during the second quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock valued at $1,105,999,000 after purchasing an additional 913,231 shares during the period. Greenhaven Associates Inc. boosted its stake in shares of Citigroup by 1.5% during the third quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock valued at $1,056,900,000 after purchasing an additional 242,545 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Citigroup by 9.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock valued at $981,347,000 after purchasing an additional 1,404,120 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Citigroup Price Performance

Shares of NYSE:C opened at $71.88 on Tuesday. Citigroup Inc. has a 1-year low of $47.71 and a 1-year high of $72.85. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. The business has a fifty day moving average price of $66.31 and a 200-day moving average price of $63.36. The company has a market capitalization of $135.94 billion, a PE ratio of 20.83, a PEG ratio of 0.81 and a beta of 1.45.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. During the same period last year, the company earned $1.52 earnings per share. The company’s revenue was up .9% on a year-over-year basis. As a group, equities analysts expect that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.56 per share. The ex-dividend date was Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.12%. Citigroup’s payout ratio is presently 64.93%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on C shares. Evercore ISI increased their price objective on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. Piper Sandler increased their price objective on Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Morgan Stanley dropped their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Wells Fargo & Company raised their price target on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, The Goldman Sachs Group raised their price target on Citigroup from $72.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $75.63.

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.