R Squared Ltd Buys 9,016 Shares of Citigroup Inc. $C

R Squared Ltd grew its position in Citigroup Inc. (NYSE:C) by 166.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 14,419 shares of the company’s stock after purchasing an additional 9,016 shares during the quarter. Citigroup comprises 0.9% of R Squared Ltd’s portfolio, making the stock its 13th biggest holding. R Squared Ltd’s holdings in Citigroup were worth $1,635,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after buying an additional 12,499 shares in the last quarter. Sivia Capital Partners LLC increased its stake in shares of Citigroup by 20.5% in the second quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company’s stock valued at $835,000 after buying an additional 1,669 shares during the period. United Bank bought a new position in Citigroup in the 2nd quarter valued at approximately $972,000. Osterweis Capital Management Inc. raised its holdings in Citigroup by 3,016.7% in the 2nd quarter. Osterweis Capital Management Inc. now owns 935 shares of the company’s stock valued at $80,000 after buying an additional 905 shares during the last quarter. Finally, HUB Investment Partners LLC boosted its position in Citigroup by 26.9% during the 2nd quarter. HUB Investment Partners LLC now owns 15,287 shares of the company’s stock worth $1,301,000 after buying an additional 3,238 shares during the period. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on C. Keefe, Bruyette & Woods upped their price target on shares of Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. UBS Group increased their price objective on Citigroup from $134.00 to $150.00 and gave the company a “neutral” rating in a report on Tuesday. Barclays upped their price target on Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Oppenheimer downgraded Citigroup from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Finally, Morgan Stanley lifted their price objective on Citigroup from $154.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.

Citigroup Stock Down 1.4%

NYSE:C traded down $2.02 during trading hours on Tuesday, hitting $141.84. 3,051,022 shares of the company traded hands, compared to its average volume of 13,622,810. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. The company has a market cap of $241.93 billion, a PE ratio of 17.57, a PEG ratio of 0.60 and a beta of 1.11. The firm’s 50-day simple moving average is $132.80 and its 200-day simple moving average is $122.17. Citigroup Inc. has a one year low of $85.48 and a one year high of $147.96.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, topping 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 return on equity of 9.19% and a net margin of 9.35%.The company’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.96 EPS. Equities analysts predict that Citigroup Inc. will post 10.83 earnings per share for the current year.

Citigroup announced that its board has authorized a share buyback plan on Thursday, May 7th that permits the company to buyback $30.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 13.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Citigroup

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

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Bank of America raised its price target on Citigroup to $176 from $170 and reiterated a buy rating, signaling confidence in further upside for the stock. Benzinga
• Positive Sentiment: UBS also lifted its target on Citigroup to $150 from $134, while JPMorgan raised its target to $149 and maintained an overweight view, reinforcing a broadly bullish analyst tone. Benzinga
• Positive Sentiment: Investors are positioning for Citigroup’s upcoming earnings, with Wall Street expecting earnings growth and some previews suggesting the bank could beat estimates on improved revenue and trading activity. Zacks
• Positive Sentiment: Separately, Citi was highlighted in a broader bank-sector note saying trading and investment-banking revenues may come in better than previously expected, which could support upcoming earnings across large banks. Yahoo Finance
• Neutral Sentiment: Citi also announced a new role as a clearing member of London Precious Metals Clearing Limited, expanding its commodities and precious-metals settlement capabilities. Business Wire
• Neutral Sentiment: Markets also noted Citi’s appointment as depositary bank for Vicore Pharma’s ADR program, a routine capital-markets win that adds modestly to fee-generating activity. Yahoo Finance

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.