McAdam LLC Sells 2,017 Shares of Citigroup Inc. (NYSE:C)

McAdam LLC cut its holdings in Citigroup Inc. (NYSE:C) by 37.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,309 shares of the company’s stock after selling 2,017 shares during the period. McAdam LLC’s holdings in Citigroup were worth $207,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. POM Investment Strategies LLC bought a new stake in Citigroup in the second quarter worth $25,000. Northwest Investment Counselors LLC bought a new stake in Citigroup in the third quarter worth $28,000. Beacon Capital Management LLC lifted its stake in Citigroup by 85.5% in the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after purchasing an additional 212 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Citigroup in the second quarter valued at about $31,000. Finally, Triad Wealth Partners LLC purchased a new position in shares of Citigroup in the second quarter valued at about $32,000. 71.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Oppenheimer decreased their price objective on shares of Citigroup from $92.00 to $91.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 16th. Argus boosted their price objective on shares of Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Piper Sandler boosted their price objective on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Bank of America boosted their price objective on shares of Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, BMO Capital Markets boosted their price target on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $71.06.

Citigroup Price Performance

Shares of C opened at $61.76 on Friday. The stock has a market cap of $117.80 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 0.74 and a beta of 1.44. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $67.81. The firm’s 50-day simple moving average is $61.67 and its two-hundred day simple moving average is $61.95.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The business had revenue of $20.32 billion for the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The business’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.52 earnings per share. Analysts anticipate that Citigroup Inc. will post 5.76 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.63%. Citigroup’s dividend payout ratio is presently 62.75%.

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.