Azora Capital LP Acquires Shares of 681,492 Citigroup Inc. (NYSE:C)

Posted by Defense World Staff on Jun 14th, 2023

Azora Capital LP acquired a new stake in shares of Citigroup Inc. (NYSE:C – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 681,492 shares of the company’s stock, valued at approximately $30,824,000. Citigroup makes up about 4.7% of Azora Capital LP’s investment portfolio, making the stock its 7th largest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BOS Asset Management LLC purchased a new position in shares of Citigroup in the fourth quarter worth about $434,000. Intact Investment Management Inc. increased its position in shares of Citigroup by 26.3% during the fourth quarter. Intact Investment Management Inc. now owns 31,700 shares of the company’s stock valued at $1,434,000 after acquiring an additional 6,600 shares during the last quarter. Mork Capital Management LLC acquired a new stake in shares of Citigroup during the fourth quarter valued at about $843,000. Vident Investment Advisory LLC increased its position in shares of Citigroup by 5.9% during the fourth quarter. Vident Investment Advisory LLC now owns 72,876 shares of the company’s stock valued at $3,296,000 after acquiring an additional 4,033 shares during the last quarter. Finally, Advisor Partners II LLC grew its holdings in shares of Citigroup by 4.3% in the fourth quarter. Advisor Partners II LLC now owns 49,611 shares of the company’s stock valued at $2,244,000 after purchasing an additional 2,034 shares in the last quarter. 70.90% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Up 0.5 %

Shares of NYSE:C opened at $48.69 on Wednesday. The company has a market capitalization of $94.79 billion, a PE ratio of 6.79, a P/E/G ratio of 1.82 and a beta of 1.57. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.48. Citigroup Inc. has a twelve month low of $40.01 and a twelve month high of $54.56. The firm has a 50 day simple moving average of $46.75 and a 200-day simple moving average of $47.57.

Citigroup (NYSE:C – Get Rating) last released its quarterly earnings results on Friday, April 14th. The company reported $2.19 EPS for the quarter, beating the consensus estimate of $1.66 by $0.53. Citigroup had a net margin of 12.96% and a return on equity of 7.84%. The firm had revenue of $21.40 billion during the quarter, compared to the consensus estimate of $20.07 billion. During the same quarter in the prior year, the firm earned $2.02 EPS. Citigroup’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities analysts predict that Citigroup Inc. will post 5.99 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 26th. Investors of record on Monday, May 1st were given a $0.51 dividend. The ex-dividend date was Friday, April 28th. This represents a $2.04 annualized dividend and a yield of 4.19%. Citigroup’s dividend payout ratio (DPR) is 28.45%.

Insider Activity at Citigroup

In other Citigroup news, insider Zdenek Turek sold 12,000 shares of the business’s stock in a transaction on Tuesday, April 18th. The shares were sold at an average price of $49.87, for a total value of $598,440.00. Following the transaction, the insider now directly owns 155,979 shares of the company’s stock, valued at approximately $7,778,672.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on C shares. Barclays dropped their price objective on shares of Citigroup from $61.00 to $59.00 in a report on Wednesday, April 12th. Piper Sandler lifted their price objective on shares of Citigroup from $47.00 to $53.00 and gave the company a “neutral” rating in a report on Monday, April 17th. TheStreet upgraded shares of Citigroup from a “c+” rating to a “b-” rating in a research note on Monday, March 6th. BMO Capital Markets lifted their price target on shares of Citigroup from $56.00 to $68.00 and gave the stock an “outperform” rating in a research note on Monday, April 17th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Citigroup from $50.00 to $48.00 in a research note on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $54.79.

Citigroup Company Profile

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Citigroup Inc, a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. It operates through three segments: Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), and Legacy Franchises.