Azora Capital LP Buys New Stake in Citigroup Inc. $C

Azora Capital LP bought a new stake in Citigroup Inc. (NYSE:C) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 611,985 shares of the company’s stock, valued at approximately $52,092,000. Citigroup accounts for approximately 2.4% of Azora Capital LP’s investment portfolio, making the stock its 18th biggest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Onyx Bridge Wealth Group LLC lifted its stake in Citigroup by 3.6% during the 2nd quarter. Onyx Bridge Wealth Group LLC now owns 3,117 shares of the company’s stock worth $265,000 after acquiring an additional 109 shares in the last quarter. Fullcircle Wealth LLC lifted its position in shares of Citigroup by 0.9% during the second quarter. Fullcircle Wealth LLC now owns 13,097 shares of the company’s stock worth $1,206,000 after purchasing an additional 111 shares in the last quarter. Secure Asset Management LLC boosted its stake in shares of Citigroup by 3.7% in the second quarter. Secure Asset Management LLC now owns 3,290 shares of the company’s stock valued at $280,000 after purchasing an additional 118 shares during the period. Golden State Equity Partners grew its holdings in shares of Citigroup by 0.6% in the second quarter. Golden State Equity Partners now owns 21,634 shares of the company’s stock valued at $1,842,000 after purchasing an additional 122 shares in the last quarter. Finally, Altman Advisors Inc. grew its holdings in shares of Citigroup by 0.4% in the second quarter. Altman Advisors Inc. now owns 30,979 shares of the company’s stock valued at $2,673,000 after purchasing an additional 127 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on C. Truist Financial raised their price target on shares of Citigroup from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. TD Cowen lifted their target price on Citigroup from $105.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Keefe, Bruyette & Woods boosted their target price on Citigroup from $112.00 to $118.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Bank of America increased their price target on Citigroup from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Finally, Zacks Research cut Citigroup from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Eleven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $108.70.

Citigroup Price Performance

C stock opened at $109.47 on Wednesday. The business has a 50 day moving average price of $100.38 and a 200 day moving average price of $93.74. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.62. The stock has a market cap of $195.86 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 0.54 and a beta of 1.21. Citigroup Inc. has a fifty-two week low of $55.51 and a fifty-two week high of $110.25.

Citigroup (NYSE:C) last released its quarterly earnings data on Tuesday, October 14th. The company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.35. The company had revenue of $22.09 billion for the quarter, compared to analysts’ expectations of $20.92 billion. Citigroup had a net margin of 8.73% and a return on equity of 7.91%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the company earned $1.51 earnings per share. Equities research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 3rd were given a $0.60 dividend. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 2.2%. Citigroup’s payout ratio is 33.71%.

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.