King Luther Capital Management Corp Buys 80,222 Shares of Citigroup Inc. (NYSE:C)

King Luther Capital Management Corp raised its stake in Citigroup Inc. (NYSE:C) by 72.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 190,664 shares of the company’s stock after purchasing an additional 80,222 shares during the quarter. King Luther Capital Management Corp’s holdings in Citigroup were worth $11,936,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. POM Investment Strategies LLC purchased a new stake in Citigroup in the second quarter worth $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Citigroup in the 3rd quarter worth about $28,000. Beacon Capital Management LLC boosted its stake in shares of Citigroup by 85.5% during the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after purchasing an additional 212 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Citigroup during the second quarter valued at about $31,000. Finally, Triad Wealth Partners LLC bought a new position in Citigroup in the second quarter worth about $32,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

C opened at $69.16 on Friday. The company’s 50-day simple moving average is $64.07 and its two-hundred day simple moving average is $62.79. Citigroup Inc. has a 52-week low of $44.56 and a 52-week high of $70.20. The stock has a market capitalization of $130.79 billion, a P/E ratio of 20.04, a P/E/G ratio of 0.77 and a beta of 1.44. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96.

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

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.56 per share. The ex-dividend date was Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.24%. Citigroup’s dividend payout ratio is currently 64.93%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on C. Morgan Stanley reduced their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Oppenheimer upped their price target on Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Barclays raised their price objective on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company upped their target price on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Bank of America lifted their price target on shares of Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $73.00.

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.