Adell Harriman & Carpenter Inc. Grows Stock Position in Citigroup Inc. $C

Adell Harriman & Carpenter Inc. grew its holdings in Citigroup Inc. (NYSE:C) by 12.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 102,255 shares of the company’s stock after buying an additional 11,512 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Citigroup were worth $10,379,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Wolff Wiese Magana LLC increased its stake in Citigroup by 87.6% during the 3rd quarter. Wolff Wiese Magana LLC now owns 257 shares of the company’s stock valued at $26,000 after purchasing an additional 120 shares in the last quarter. Guerra Advisors Inc purchased a new stake in shares of Citigroup during the third quarter valued at $33,000. Howard Hughes Medical Institute acquired a new position in shares of Citigroup in the 2nd quarter valued at $34,000. Legacy Investment Solutions LLC purchased a new position in Citigroup in the 2nd quarter worth $38,000. Finally, Capital A Wealth Management LLC purchased a new position in Citigroup in the 2nd quarter worth $38,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Up 1.2%

Shares of C opened at $117.68 on Wednesday. The firm has a market cap of $210.56 billion, a P/E ratio of 16.88, a PEG ratio of 0.74 and a beta of 1.18. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $124.17. The stock’s 50 day moving average is $114.33 and its two-hundred day moving average is $103.51. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 1.63.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 14th. The company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.16. Citigroup had a return on equity of 8.28% and a net margin of 8.50%.The firm had revenue of $19.87 billion for the quarter, compared to analyst estimates of $20.99 billion. During the same quarter last year, the firm posted $1.34 EPS. The business’s revenue was up 2.1% on a year-over-year basis. Analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Monday, February 2nd will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, February 2nd. Citigroup’s dividend payout ratio (DPR) is presently 34.43%.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Q4 earnings beat on the bottom line — Citigroup reported $1.81 EPS (above estimates) and showed year-over-year EPS improvement, supporting investor confidence in profitability and cash returns. Here’s what lifted Citigroup (C) in Q4
• Positive Sentiment: Dividend story is drawing investor interest — analysts and income-focused outlets highlight Citigroup’s dividend yield and capital-return profile as attractive, which can support demand for the common stock from yield-seeking investors. Why Citigroup (C) is a Great Dividend Stock Right Now
• Neutral Sentiment: New preferred-stock filing (6.250% Series II) — Citigroup filed to create a 6.25% preferred series. This boosts loss-absorbing capital and flexibility (supportive for bank metrics) but is not common-equity issuance; impact on common shares is mixed and depends on how proceeds are used. Citigroup Establishes New 6.250% Preferred Stock Series II
• Negative Sentiment: Revenue missed consensus and growth remains modest — Q4 revenue came in below analyst estimates ($19.87B vs. $20.99B expected) and revenue growth was only about 2.1% year-over-year, which could cap multiple expansion until topline momentum improves. Here’s what lifted Citigroup (C) in Q4

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Truist Financial increased their price objective on Citigroup from $123.00 to $129.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. TD Cowen reiterated a “hold” rating on shares of Citigroup in a research report on Wednesday, January 7th. Zacks Research raised shares of Citigroup from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 22nd. Piper Sandler set a $135.00 price objective on shares of Citigroup in a research note on Thursday, January 15th. Finally, JPMorgan Chase & Co. upgraded shares of Citigroup from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $107.00 to $124.00 in a research note on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $125.56.

Citigroup Profile

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.