Citigroup Inc. $C Stock Sold by Adams Asset Advisors LLC

Adams Asset Advisors LLC lowered its holdings in shares of Citigroup Inc. (NYSE:C) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,020 shares of the company’s stock after selling 5,274 shares during the period. Citigroup accounts for 1.7% of Adams Asset Advisors LLC’s investment portfolio, making the stock its 14th largest holding. Adams Asset Advisors LLC’s holdings in Citigroup were worth $18,518,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. State Street Corp increased its holdings in Citigroup by 3.7% in the second quarter. State Street Corp now owns 80,956,349 shares of the company’s stock valued at $11,199,986,000 after buying an additional 2,913,701 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Citigroup during the 2nd quarter valued at about $3,244,602,000. Bank of America Corp DE raised its position in Citigroup by 2.8% during the first quarter. Bank of America Corp DE now owns 26,869,012 shares of the company’s stock worth $3,047,215,000 after acquiring an additional 728,043 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Citigroup by 6.2% in the fourth quarter. Invesco Ltd. now owns 15,139,403 shares of the company’s stock valued at $1,766,617,000 after purchasing an additional 887,430 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Citigroup by 10.7% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,467,857 shares of the company’s stock valued at $1,745,001,000 after purchasing an additional 1,210,006 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Trading Up 0.5%

Shares of C traded up $0.64 on Thursday, hitting $127.96. 7,902,918 shares of the stock traded hands, compared to its average volume of 12,474,080. Citigroup Inc. has a 1 year low of $93.66 and a 1 year high of $147.96. The stock’s 50 day moving average is $133.89 and its two-hundred day moving average is $131.18. The firm has a market capitalization of $218.24 billion, a P/E ratio of 13.82, a P/E/G ratio of 0.57 and a beta of 1.13. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.71.

Citigroup (NYSE:C) last released its earnings results on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, topping the consensus estimate of $2.74 by $0.41. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The firm had revenue of $24.77 billion during the quarter, compared to analysts’ expectations of $23.74 billion. During the same period in the previous year, the company earned $1.96 EPS. Citigroup’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, sell-side analysts predict that Citigroup Inc. will post 11.19 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 3rd were paid a $0.67 dividend. The ex-dividend date was Monday, August 3rd. This is an increase from Citigroup’s previous quarterly dividend of $0.60. This represents a $2.68 annualized dividend and a yield of 2.1%. Citigroup’s payout ratio is currently 28.94%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on C shares. Truist Financial dropped their price objective on shares of Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. UBS Group lowered their target price on Citigroup from $142.00 to $139.00 and set a “neutral” rating on the stock in a report on Monday. Argus set a $150.00 price target on Citigroup in a research report on Wednesday, July 15th. Morgan Stanley boosted their price target on Citigroup from $154.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Finally, Wells Fargo & Company upped their price objective on Citigroup from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $151.28.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: TD Cowen initiated coverage with a Buy rating and a $150 price target, implying substantial upside from recent trading levels. The firm’s bullish view adds fresh institutional support to the stock. Benzinga analyst coverage report
• Positive Sentiment: Investors are positioning ahead of third-quarter results, which are expected to benefit from higher net interest income and market-related revenue. Cost controls, capital returns and progress on Citi’s restructuring will be important earnings catalysts. Zacks Q3 earnings preview
• Positive Sentiment: Several analysts and financial publications argue that Citi’s transformation could drive a valuation rerating. Estimates suggest the stock could gain roughly 28% to 30% if it trades closer to larger banking peers, while the company’s current valuation remains relatively inexpensive. Barron’s Citigroup valuation analysis
• Positive Sentiment: Citi’s expanded collaboration with Coinbase and connection of its payments network to stablecoin infrastructure could create longer-term growth opportunities in corporate payments, digital assets and e-commerce. Citi also expanded the use of ThankYou points through Xsolla, potentially increasing cardmember engagement. Citi and Coinbase stablecoin partnership
• Neutral Sentiment: Analyst views are constructive but not unanimous: Autonomous Research trimmed its target to $146 while maintaining Outperform, and UBS reduced its target to $139. These targets still exceed recent trading levels but signal expectations for more moderate upside. Autonomous Research price-target update
• Negative Sentiment: Spiking Treasury yields are creating broader pressure for banks ahead of earnings. Although higher rates can support lending income, rapid yield increases may hurt bond portfolios, funding costs, credit conditions and investment-banking activity. Zacks banking-sector analysis

Citigroup Profile

Citigroup Inc is a global financial services company headquartered in New York City and listed on the New York Stock Exchange under the symbol C. Through its subsidiaries and businesses, Citi provides banking, lending, investment, payments, wealth management and other financial services to consumers, businesses, governments and institutional clients.

Citi’s principal businesses include Services, which supports institutional clients with treasury, trade, securities services and related solutions; Markets, which provides sales, trading, research and financing services; Banking, which offers investment banking and corporate banking; and Wealth, which provides private banking and wealth management.