Citigroup Inc. $C Holdings Lifted by Spectrum Financial Alliance Ltd LLC

Spectrum Financial Alliance Ltd LLC lifted its position in shares of Citigroup Inc. (NYSE:C) by 2.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 658,445 shares of the company’s stock after buying an additional 17,422 shares during the period. Citigroup accounts for approximately 14.4% of Spectrum Financial Alliance Ltd LLC’s portfolio, making the stock its largest holding. Spectrum Financial Alliance Ltd LLC’s holdings in Citigroup were worth $74,674,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Citigroup in the fourth quarter worth approximately $2,800,944,000. Vanguard Group Inc. boosted its holdings in Citigroup by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company’s stock valued at $19,048,467,000 after acquiring an additional 4,938,923 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in Citigroup during the fourth quarter valued at about $298,082,000. SG Americas Securities LLC increased its stake in Citigroup by 291.4% during the fourth quarter. SG Americas Securities LLC now owns 1,319,549 shares of the company’s stock worth $153,978,000 after acquiring an additional 2,008,946 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Citigroup by 52.1% in the 3rd quarter. Alliancebernstein L.P. now owns 5,304,324 shares of the company’s stock worth $538,389,000 after purchasing an additional 1,816,786 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director John Cunningham Dugan sold 2,117 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following the transaction, the director owned 12,194 shares in the company, valued at approximately $1,527,908.20. The trade was a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Edward Skyler sold 25,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider directly owned 182,022 shares of the company’s stock, valued at $23,919,511.02. This represents a 12.08% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.11% of the stock is owned by company insiders.

Citigroup Stock Up 0.8%

NYSE C traded up $1.10 on Friday, reaching $140.67. The company had a trading volume of 10,510,425 shares, compared to its average volume of 12,496,730. The firm has a market capitalization of $239.92 billion, a PE ratio of 17.43, a P/E/G ratio of 0.65 and a beta of 1.11. The firm has a 50-day moving average of $133.71 and a 200-day moving average of $122.85. Citigroup Inc. has a 1 year low of $85.61 and a 1 year high of $147.96. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.43. The business had revenue of $24.63 billion during 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 business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.96 earnings per share. On average, equities research analysts anticipate that Citigroup Inc. will post 10.89 EPS for the current fiscal year.

Citigroup announced that its board has authorized a share repurchase program on Thursday, May 7th that authorizes the company to buyback $30.00 billion in shares. This buyback authorization authorizes the company to buy up to 13.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Barclays boosted their target price on Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. UBS Group lifted their price target on shares of Citigroup from $134.00 to $150.00 and gave the company a “neutral” rating in a research report on Tuesday. Piper Sandler reiterated an “overweight” rating and set a $145.00 price objective (up from $125.00) on shares of Citigroup in a research note on Wednesday, April 15th. JPMorgan Chase & Co. increased their price objective on shares of Citigroup from $135.50 to $149.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Finally, Truist Financial lifted their target price on shares of Citigroup from $147.00 to $158.00 and gave the company a “buy” rating in a report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi is expected to collect about $70 million in fees from the SK Hynix listing, underscoring strength in its capital markets and advisory franchise. Article Title
• Positive Sentiment: Multiple pieces this week describe Citigroup (C) as one of the stronger large-bank names ahead of earnings, supported by resilient trading activity, investment banking momentum, and loan demand. Article Title
• Positive Sentiment: Analyst commentary and TV mentions have also kept Citi in the spotlight as a favored bank stock, suggesting continued institutional confidence in the name. Article Title
• Positive Sentiment: Earlier coverage said Citi’s Q1 results were the strongest among diversified banks, reinforcing the view that the company is executing well relative to peers. Article Title
• Neutral Sentiment: Citi also announced that SCB is now live with its 24/7 USD Clearing and Citi Token Services, a constructive step in digital payments infrastructure, but not a near-term earnings driver. Article Title

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.