Lazari Capital Management Inc. Reduces Position in Citigroup Inc. (NYSE:C)

Lazari Capital Management Inc. decreased its holdings in shares of Citigroup Inc. (NYSE:C) by 8.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,074 shares of the company’s stock after selling 1,257 shares during the quarter. Lazari Capital Management Inc.’s holdings in Citigroup were worth $673,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Orion Capital Management LLC purchased a new stake in shares of Citigroup during the fourth quarter worth $26,000. Frazier Financial Advisors LLC purchased a new stake in shares of Citigroup in the fourth quarter valued at about $29,000. Rakuten Securities Inc. purchased a new stake in shares of Citigroup in the fourth quarter valued at about $35,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of Citigroup in the fourth quarter valued at about $39,000. Finally, Venturi Wealth Management LLC grew its holdings in shares of Citigroup by 52.5% in the fourth quarter. Venturi Wealth Management LLC now owns 796 shares of the company’s stock valued at $41,000 after purchasing an additional 274 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Down 1.5 %

Shares of C traded down $0.90 during mid-day trading on Friday, hitting $59.33. 10,511,048 shares of the company’s stock were exchanged, compared to its average volume of 10,133,968. The company has a market cap of $113.17 billion, a price-to-earnings ratio of 17.55, a P/E/G ratio of 0.89 and a beta of 1.48. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $64.98. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s 50-day moving average is $61.74 and its 200-day moving average is $56.97.

Citigroup (NYSE:C) last issued its quarterly earnings results on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.29. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The business had revenue of $21.10 billion for the quarter, compared to analysts’ expectations of $20.46 billion. During the same quarter in the prior year, the company earned $1.86 earnings per share. The business’s quarterly revenue was down 1.6% on a year-over-year basis. On average, sell-side analysts anticipate that Citigroup Inc. will post 5.96 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Monday, May 6th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.57%. Citigroup’s payout ratio is 62.72%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on C. The Goldman Sachs Group reissued a “buy” rating on shares of Citigroup in a report on Monday, April 1st. Jefferies Financial Group upped their price objective on shares of Citigroup from $56.00 to $65.00 and gave the company a “hold” rating in a report on Monday, April 8th. Piper Sandler upped their price objective on shares of Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods upped their target price on shares of Citigroup from $54.00 to $66.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Finally, HSBC upped their target price on shares of Citigroup from $61.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. One research 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’s stock. Based on data from MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and a consensus price target of $63.66.

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.