Lecap Asset Management Ltd. Invests $2.23 Million in Citigroup Inc. (NYSE:C)

Lecap Asset Management Ltd. purchased a new position in shares of Citigroup Inc. (NYSE:C - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 35,652 shares of the company's stock, valued at approximately $2,232,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in Citigroup by 123.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company's stock valued at $2,005,749,000 after buying an additional 17,525,484 shares during the last quarter. Swedbank AB acquired a new position in Citigroup during the first quarter worth $253,286,000. Acadian Asset Management LLC boosted its stake in Citigroup by 527.5% during the second quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company's stock worth $158,521,000 after buying an additional 2,100,135 shares during the last quarter. Caxton Associates LP boosted its stake in Citigroup by 7,393.3% during the first quarter. Caxton Associates LP now owns 2,015,390 shares of the company's stock worth $127,453,000 after buying an additional 1,988,494 shares during the last quarter. Finally, DAVENPORT & Co LLC boosted its stake in Citigroup by 1,749.2% during the first quarter. DAVENPORT & Co LLC now owns 1,314,323 shares of the company's stock worth $82,985,000 after buying an additional 1,243,249 shares during the last quarter. Institutional investors own 71.72% of the company's stock.

Citigroup Stock Performance

Shares of Citigroup stock traded down $0.46 during trading on Wednesday, hitting $63.10. 8,714,948 shares of the stock were exchanged, compared to its average volume of 14,411,868. The stock has a market capitalization of $120.36 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 0.74 and a beta of 1.44. The company has a fifty day moving average price of $61.54 and a 200-day moving average price of $61.94. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $67.81. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, beating analysts' consensus estimates of $1.31 by $0.20. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. During the same quarter in the prior year, the business earned $1.52 EPS. Citigroup's quarterly revenue was up .9% on a year-over-year basis. As a group, equities analysts predict that Citigroup Inc. will post 5.76 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.55%. Citigroup's dividend payout ratio is currently 62.75%.

Analysts Set New Price Targets

C has been the subject of several analyst reports. BMO Capital Markets boosted their target price on Citigroup from $63.00 to $65.00 and gave the stock a "market perform" rating in a research note on Thursday, July 11th. The Goldman Sachs Group reduced their price objective on Citigroup from $75.00 to $71.00 and set a "buy" rating for the company in a research note on Wednesday, September 11th. Argus increased their target price on Citigroup from $70.00 to $72.00 and gave the stock a "buy" rating in a research note on Monday, July 15th. Piper Sandler increased their target price on Citigroup from $70.00 to $73.00 and gave the stock an "overweight" rating in a research note on Monday, July 15th. Finally, Barclays raised their price objective on Citigroup from $63.00 to $70.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $71.06.

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.