Citigroup Inc. $C Shares Purchased by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. raised its stake in shares of Citigroup Inc. (NYSE:C) by 12.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 114,925 shares of the company’s stock after buying an additional 12,670 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Citigroup were worth $13,411,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Donaldson Capital Management LLC acquired a new stake in Citigroup during the third quarter worth approximately $58,994,000. Gunderson Capital Management Inc. acquired a new stake in shares of Citigroup during the fourth quarter worth $7,165,000. Kovitz Investment Group Partners LLC boosted its holdings in shares of Citigroup by 17.3% during the third quarter. Kovitz Investment Group Partners LLC now owns 663,416 shares of the company’s stock worth $67,337,000 after purchasing an additional 98,082 shares during the last quarter. Brighton Jones LLC grew its position in shares of Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after purchasing an additional 12,499 shares during the period. Finally, Varma Mutual Pension Insurance Co lifted its position in Citigroup by 21.9% during the third quarter. Varma Mutual Pension Insurance Co now owns 341,876 shares of the company’s stock worth $34,700,000 after buying an additional 61,500 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Insider Transactions at Citigroup

In other news, Director John Cunningham Dugan sold 2,117 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following the completion of the sale, the director directly owned 12,194 shares in the company, valued at approximately $1,527,908.20. The trade was a 14.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward Skyler sold 25,000 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $131.41, for a total value of $3,285,250.00. Following the transaction, the insider owned 182,022 shares in the company, valued at $23,919,511.02. This trade represents a 12.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.11% of the stock is currently owned by company insiders.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup launched a €15 billion private capital program with BlackRock’s HPS to expand direct lending across EMEA, a move that could strengthen fee-based revenue and deepen its presence in private credit. Article Title
• Positive Sentiment: Citi reported better April card delinquency and charge-off trends year over year, suggesting some improvement in consumer credit quality. Article Title
• Positive Sentiment: Citi received final approval to launch a wholly foreign-owned securities firm in mainland China, expanding its ability to offer investment banking and brokerage services directly in a major market. Article Title
• Positive Sentiment: Citigroup hired former UK lawmaker Chuka Umunna as managing director in its UK investment banking division, a small but notable talent win that may support its EMEA franchise. Article Title
• Neutral Sentiment: Citi’s call that 30-year Treasury yields may next focus on 5.5% reflects its macro view, but it is not a direct operating driver for the bank. Article Title
• Negative Sentiment: CFRA reportedly downgraded Citigroup to Hold, which may be tempering enthusiasm after a strong run in the shares. Article Title

Citigroup Stock Down 2.0%

C stock opened at $119.96 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. The firm has a 50 day simple moving average of $120.03 and a 200-day simple moving average of $114.43. The company has a market capitalization of $204.60 billion, a P/E ratio of 14.87, a PEG ratio of 0.55 and a beta of 1.14. Citigroup Inc. has a twelve month low of $71.65 and a twelve month high of $135.29.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.43. The firm had revenue of $24.63 billion for the quarter, compared to the consensus estimate of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The firm’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.96 EPS. On average, equities research analysts predict that Citigroup Inc. will post 10.65 earnings per share for the current fiscal year.

Citigroup declared that its board has initiated a share buyback program on Thursday, May 7th that allows the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 13.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, May 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.0%. Citigroup’s dividend payout ratio (DPR) is presently 29.74%.

Analysts Set New Price Targets

A number of research firms have recently commented on C. JPMorgan Chase & Co. upped their price objective on shares of Citigroup from $131.00 to $135.50 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Barclays raised their target price on shares of Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Morgan Stanley boosted their target price on shares of Citigroup from $140.00 to $144.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citigroup in a research note on Monday, April 20th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $139.00 price target on shares of Citigroup in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $137.62.

Citigroup Company 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.