Staley Capital Advisers Inc. Has $38.68 Million Stock Holdings in Citigroup Inc. $C

Staley Capital Advisers Inc. decreased its stake in Citigroup Inc. (NYSE:C) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 341,030 shares of the company’s stock after selling 8,005 shares during the period. Citigroup comprises about 1.6% of Staley Capital Advisers Inc.’s holdings, making the stock its 20th largest holding. Staley Capital Advisers Inc.’s holdings in Citigroup were worth $38,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Mcguire Capital Advisors Inc. acquired a new position in shares of Citigroup during the fourth quarter worth $25,000. Richards Merrill & Peterson Inc. acquired a new position in Citigroup in the 4th quarter worth about $28,000. TD Capital Management LLC acquired a new position in Citigroup in the 4th quarter worth about $28,000. Luken Investment Analytics LLC bought a new position in Citigroup in the fourth quarter valued at about $32,000. Finally, High Note Wealth LLC raised its position in Citigroup by 107.7% in the fourth quarter. High Note Wealth LLC now owns 270 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup received bullish analyst attention, including a Bank of America price target increase to $176 and a separate UBS target hike to $150, signaling confidence in the bank’s earnings outlook and upside potential.
• Positive Sentiment: The company was also cited as benefiting from a strong banking backdrop ahead of Q2 earnings, with Wall Street expecting higher revenue and profit growth for financial stocks overall.
• Positive Sentiment: Citi expanded its commodities franchise by joining London Precious Metals Clearing Limited and advising StepStone Group on a landmark $3.3 billion structured solutions vehicle, both of which reinforce its capital-markets and clearing capabilities.
• Neutral Sentiment: Citigroup heads into its July 14 earnings release with investor expectations elevated after a strong recent share-price run, so near-term moves may reflect positioning ahead of results rather than a fundamental change.
• Neutral Sentiment: Recent articles also noted that Citi is projected to report earnings next week and that financial stocks broadly remain in focus as investors look for confirmation of loan-growth and net-interest-margin trends.

Insider Activity at Citigroup

In other news, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were 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 approximately $23,919,511.02. The trade was a 12.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction 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 sale, the director directly owned 12,194 shares in the company, valued at approximately $1,527,908.20. This represents a 14.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.11% of the company’s stock.

Citigroup Trading Down 2.4%

NYSE C opened at $137.40 on Thursday. The business’s 50-day moving average price is $133.22 and its two-hundred day moving average price is $122.55. Citigroup Inc. has a 12 month low of $85.59 and a 12 month high of $147.96. The firm has a market capitalization of $234.35 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 0.60 and a beta of 1.11. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.63 by $0.43. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The company had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same period last year, the company earned $1.96 earnings per share. The firm’s revenue was up 14.1% compared to the same quarter last year. On average, analysts expect that Citigroup Inc. will post 10.85 EPS for the current year.

Citigroup announced that its Board of Directors has authorized a share buyback program on Thursday, May 7th that allows the company to buyback $30.00 billion in shares. This buyback authorization allows the company to purchase up to 13.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

C has been the topic of several research reports. Piper Sandler restated an “overweight” rating and set a $145.00 price target (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. JPMorgan Chase & Co. raised their price objective on shares of Citigroup from $135.50 to $149.00 and gave the company an “overweight” rating in a report on Monday. Keefe, Bruyette & Woods lifted their target price on shares of Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Jefferies Financial Group began coverage on shares of Citigroup in a report on Thursday, March 26th. They set a “buy” rating and a $135.00 target price on the stock. Finally, Evercore set a $143.00 price target on shares of Citigroup in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.

About Citigroup

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.