Adell Harriman & Carpenter Inc. Grows Stock Holdings in Citigroup Inc. (NYSE:C)

Adell Harriman & Carpenter Inc. lifted its position in Citigroup Inc. (NYSE:C) by 36.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,892 shares of the company’s stock after purchasing an additional 2,103 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Citigroup were worth $406,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Intrust Bank NA grew its holdings in shares of Citigroup by 9.6% during the 4th quarter. Intrust Bank NA now owns 10,893 shares of the company’s stock valued at $560,000 after purchasing an additional 955 shares during the last quarter. Skylands Capital LLC increased its stake in shares of Citigroup by 10.1% during the fourth quarter. Skylands Capital LLC now owns 128,150 shares of the company’s stock valued at $6,592,000 after buying an additional 11,775 shares during the period. Choreo LLC bought a new stake in Citigroup in the fourth quarter valued at $331,000. Navis Wealth Advisors LLC purchased a new position in Citigroup during the 4th quarter valued at $211,000. Finally, Sargent Investment Group LLC raised its holdings in Citigroup by 6.0% in the 4th quarter. Sargent Investment Group LLC now owns 7,726 shares of the company’s stock worth $397,000 after purchasing an additional 440 shares in the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on C shares. HSBC increased their price target on shares of Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Morgan Stanley upgraded Citigroup from an “underweight” rating to an “overweight” rating and raised their target price for the company from $46.00 to $65.00 in a research note on Tuesday, January 30th. StockNews.com raised Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Barclays raised their price objective on Citigroup from $59.00 to $63.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Wolfe Research raised shares of Citigroup from a “peer perform” rating to an “outperform” rating and set a $58.00 target price on the stock in a research report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.85.

Citigroup Stock Down 0.4 %

NYSE:C traded down $0.25 on Tuesday, reaching $62.01. 1,325,922 shares of the stock traded hands, compared to its average volume of 16,774,770. The company’s fifty day simple moving average is $59.24 and its 200 day simple moving average is $52.21. Citigroup Inc. has a 12 month low of $38.17 and a 12 month high of $63.90. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $118.77 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 0.94 and a beta of 1.52.

Citigroup (NYSE:C) last released its quarterly earnings data on Friday, April 12th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.29 by $0.29. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The company had revenue of $21.10 billion for the quarter, compared to analysts’ expectations of $20.46 billion. During the same period last year, the firm posted $1.86 earnings per share. Citigroup’s revenue was down 1.6% compared to the same quarter last year. Equities analysts predict that Citigroup Inc. will post 5.97 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup’s payout ratio is 62.72%.

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.