Lake Street Advisors Group LLC Buys 5,840 Shares of Citigroup Inc. (NYSE:C)

Lake Street Advisors Group LLC raised its stake in shares of Citigroup Inc. (NYSE:C) by 63.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,079 shares of the company’s stock after acquiring an additional 5,840 shares during the period. Lake Street Advisors Group LLC’s holdings in Citigroup were worth $954,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. HB Wealth Management LLC lifted its holdings in Citigroup by 105.0% during the fourth quarter. HB Wealth Management LLC now owns 32,715 shares of the company’s stock worth $1,683,000 after acquiring an additional 16,759 shares during the period. CVA Family Office LLC raised its stake in shares of Citigroup by 33.6% during the 4th quarter. CVA Family Office LLC now owns 7,275 shares of the company’s stock worth $374,000 after purchasing an additional 1,830 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Citigroup by 0.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 551,556 shares of the company’s stock worth $28,372,000 after buying an additional 3,527 shares during the last quarter. Pacer Advisors Inc. grew its position in Citigroup by 1.3% during the fourth quarter. Pacer Advisors Inc. now owns 125,656 shares of the company’s stock valued at $6,464,000 after buying an additional 1,611 shares during the period. Finally, Kingswood Wealth Advisors LLC purchased a new stake in Citigroup during the fourth quarter worth about $1,691,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Price Performance

Shares of C stock traded up $0.66 on Thursday, reaching $64.32. The company’s stock had a trading volume of 3,403,599 shares, compared to its average volume of 14,854,846. The stock’s 50 day simple moving average is $63.03 and its 200-day simple moving average is $59.66. The company has a market capitalization of $122.69 billion, a P/E ratio of 17.85, a PEG ratio of 0.70 and a beta of 1.46. Citigroup Inc. has a 12-month low of $38.17 and a 12-month high of $67.81. The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 1.47.

Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, beating 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 last year, the firm earned $1.37 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities analysts predict that Citigroup Inc. will post 5.84 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.48%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Monday, August 5th. Citigroup’s dividend payout ratio (DPR) is presently 59.38%.

Analyst Upgrades and Downgrades

C has been the topic of a number of research analyst reports. HSBC boosted their target price on shares of Citigroup from $61.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Royal Bank of Canada boosted their target price on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. Evercore ISI boosted their target price on shares of Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research note on Wednesday, July 3rd. The Goldman Sachs Group reiterated a “buy” rating on shares of Citigroup in a research note on Monday, April 1st. Finally, BMO Capital Markets boosted their target price on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $67.25.

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.