Kornitzer Capital Management Inc. KS Boosts Stock Holdings in Citigroup Inc. $C

Kornitzer Capital Management Inc. KS grew its position in shares of Citigroup Inc. (NYSE:C) by 2.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,321 shares of the company’s stock after buying an additional 1,389 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Citigroup were worth $5,305,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Onyx Bridge Wealth Group LLC grew its holdings in shares of Citigroup by 3.6% during the second quarter. Onyx Bridge Wealth Group LLC now owns 3,117 shares of the company’s stock valued at $265,000 after buying an additional 109 shares during the last quarter. Secure Asset Management LLC grew its holdings in shares of Citigroup by 3.7% during the second quarter. Secure Asset Management LLC now owns 3,290 shares of the company’s stock valued at $280,000 after buying an additional 118 shares during the last quarter. Golden State Equity Partners grew its holdings in shares of Citigroup by 0.6% during the second quarter. Golden State Equity Partners now owns 21,634 shares of the company’s stock valued at $1,842,000 after buying an additional 122 shares during the last quarter. Wedmont Private Capital boosted its holdings in Citigroup by 0.5% in the second quarter. Wedmont Private Capital now owns 23,706 shares of the company’s stock worth $2,034,000 after purchasing an additional 129 shares during the last quarter. Finally, RDA Financial Network boosted its holdings in Citigroup by 3.4% in the second quarter. RDA Financial Network now owns 3,940 shares of the company’s stock worth $335,000 after purchasing an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on C shares. Wall Street Zen upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Truist Financial raised their target price on shares of Citigroup from $105.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Barclays raised their target price on shares of Citigroup from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Weiss Ratings restated a “buy (b)” rating on shares of Citigroup in a report on Friday. Finally, TD Cowen raised their target price on shares of Citigroup from $105.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.63.

Citigroup Stock Up 2.1%

C opened at $98.77 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.62. Citigroup Inc. has a 1-year low of $55.51 and a 1-year high of $105.59. The company has a market capitalization of $181.82 billion, a PE ratio of 13.87, a PEG ratio of 0.83 and a beta of 1.37. The firm’s 50 day simple moving average is $97.93 and its two-hundred day simple moving average is $86.05.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, October 14th. The company reported $1.86 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.03). Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The business had revenue of $22.09 billion during the quarter, compared to the consensus estimate of $20.92 billion. During the same quarter in the previous year, the business posted $1.51 earnings per share. The firm’s revenue was up 9.3% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 3rd will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Monday, November 3rd. Citigroup’s dividend payout ratio (DPR) is presently 33.71%.

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.