Carmel Capital Management L.L.C. Has $10.81 Million Stock Position in Citigroup Inc. (NYSE:C)

Carmel Capital Management L.L.C. lifted its position in shares of Citigroup Inc. (NYSE:C) by 9.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 153,525 shares of the company’s stock after buying an additional 12,850 shares during the quarter. Citigroup comprises 4.1% of Carmel Capital Management L.L.C.’s holdings, making the stock its 9th biggest position. Carmel Capital Management L.L.C.’s holdings in Citigroup were worth $10,807,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Northwest Investment Counselors LLC acquired a new stake in shares of Citigroup during the 3rd quarter worth $28,000. Strategic Investment Solutions Inc. IL bought a new stake in Citigroup during the second quarter worth about $31,000. Legacy Investment Solutions LLC acquired a new stake in Citigroup during the third quarter worth about $31,000. GHP Investment Advisors Inc. increased its holdings in Citigroup by 184.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after buying an additional 368 shares during the period. Finally, Hazlett Burt & Watson Inc. raised its position in shares of Citigroup by 69.3% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock valued at $39,000 after buying an additional 260 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

C stock opened at $81.98 on Friday. The firm has a market cap of $155.04 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 0.65 and a beta of 1.43. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock has a 50-day moving average price of $72.21 and a 200-day moving average price of $66.00. Citigroup Inc. has a 1-year low of $52.24 and a 1-year high of $82.77.

Citigroup (NYSE:C) last issued its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.12. The firm had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 earnings per share. As a group, equities research analysts expect that Citigroup Inc. will post 7.51 earnings per share for the current year.

Citigroup announced that its Board of Directors has approved a share buyback plan on Wednesday, January 15th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 2.73%. Citigroup’s dividend payout ratio is currently 37.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on C shares. Truist Financial started coverage on Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price on the stock. Morgan Stanley lifted their target price on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. The Goldman Sachs Group increased their target price on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Oppenheimer decreased their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Citigroup has a consensus rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Profile

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.