LSV Asset Management Has $458.09 Million Position in Citigroup Inc. (NYSE:C)

Key Points

• LSV Asset Management increased its stake in Citigroup Inc. by 0.3%, holding approximately $458 million worth of shares.
• Citigroup's recent quarterly earnings report showed $1.96 earnings per share, exceeding expectations and reflecting an 8.2% increase in revenue compared to the previous year.
• The company announced a dividend increase, with a quarterly payout of $0.60 per share, resulting in an annualized dividend yield of 2.6%.

LSV Asset Management grew its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 0.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,452,933 shares of the company's stock after acquiring an additional 17,782 shares during the period. Citigroup comprises about 1.1% of LSV Asset Management's holdings, making the stock its 14th biggest position. LSV Asset Management owned about 0.34% of Citigroup worth $458,094,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of C. Orion Capital Management LLC purchased a new stake in Citigroup during the 4th quarter worth about $28,000. MorganRosel Wealth Management LLC acquired a new stake in Citigroup during the first quarter worth approximately $28,000. American National Bank & Trust purchased a new stake in Citigroup in the 1st quarter worth approximately $29,000. Mascagni Wealth Management Inc. acquired a new position in Citigroup in the 4th quarter valued at $34,000. Finally, HHM Wealth Advisors LLC lifted its stake in shares of Citigroup by 805.2% during the 1st quarter. HHM Wealth Advisors LLC now owns 525 shares of the company's stock worth $37,000 after purchasing an additional 467 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on C. Evercore ISI set a $77.00 price target on shares of Citigroup in a report on Monday, July 7th. Dbs Bank raised Citigroup from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Truist Financial raised their price target on shares of Citigroup from $93.00 to $99.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Morgan Stanley upped their target price on shares of Citigroup from $103.00 to $107.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company lifted their target price on Citigroup from $110.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $96.54.

Citigroup Stock Performance

C traded up $0.20 during trading on Monday, hitting $92.03. The stock had a trading volume of 11,609,878 shares, compared to its average volume of 16,722,995. The firm has a market cap of $171.89 billion, a PE ratio of 13.59, a P/E/G ratio of 0.79 and a beta of 1.38. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $96.90. The company has a 50 day simple moving average of $84.36 and a 200-day simple moving average of $76.96.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The company had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. During the same period in the previous year, the business posted $1.52 EPS. The company's revenue for the quarter was up 8.2% on a year-over-year basis. Analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Monday, August 4th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 4th. This is a positive change from Citigroup's previous quarterly dividend of $0.56. Citigroup's payout ratio is 33.09%.

Insider Activity at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the sale, the director owned 2,140 shares of the company's stock, valued at $193,456. The trade was a 58.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.08% of the company's stock.

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.