Citigroup Inc. $C Position Increased by HB Wealth Management LLC

HB Wealth Management LLC grew its holdings in shares of Citigroup Inc. (NYSE:C) by 10.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 99,177 shares of the company’s stock after purchasing an additional 9,270 shares during the period. HB Wealth Management LLC’s holdings in Citigroup were worth $11,248,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of C. Vanguard Group Inc. lifted 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 worth $19,048,467,000 after acquiring an additional 4,938,923 shares during the last quarter. Capital World Investors grew its holdings in shares of Citigroup by 6.5% during the third quarter. Capital World Investors now owns 47,262,626 shares of the company’s stock valued at $4,797,292,000 after purchasing an additional 2,871,074 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Citigroup by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 43,252,372 shares of the company’s stock valued at $5,036,712,000 after purchasing an additional 189,548 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Citigroup by 4.0% during the 4th quarter. Franklin Resources Inc. now owns 34,196,783 shares of the company’s stock worth $3,990,422,000 after purchasing an additional 1,326,224 shares during the period. Finally, Fisher Asset Management LLC raised its position in shares of Citigroup by 2.6% during the 4th quarter. Fisher Asset Management LLC now owns 33,887,285 shares of the company’s stock worth $3,954,307,000 after purchasing an additional 846,772 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup remains in focus heading into the next bank earnings cycle, with analysts noting that expectations for the financial sector have been steadily improving and that large banks like Citi will help kick off reporting later this month. This keeps attention on whether Citi can extend its recent earnings momentum. Article Title
• Positive Sentiment: Citigroup recently announced a leadership addition in wealth management, appointing Michael Yannell to lead hedge funds within its alternatives platform. The move suggests Citi is expanding higher-fee wealth offerings to meet client demand, which may support revenue growth. Article Title
• Neutral Sentiment: Citi also made news for trimming its bitcoin and ether price targets, reflecting a more cautious stance on crypto demand and delayed US regulation. This is more of a sentiment call on digital assets than a direct catalyst for Citigroup shares. Article Title
• Negative Sentiment: Citi warned that oil could slump to $60 a barrel as Middle East supply fears fade, which reinforces a more bearish macro view from the bank’s research team. While not directly tied to Citi’s core earnings, the call can weigh on market sentiment around its commodity and trading outlook. Article Title

Insider Buying and Selling

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

Analyst Ratings Changes

A number of research analysts recently issued reports on C shares. Morgan Stanley boosted their price objective on Citigroup from $154.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Oppenheimer lowered Citigroup from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Piper Sandler reaffirmed an “overweight” rating and issued a $145.00 target price (up from $125.00) on shares of Citigroup in a research report on Wednesday, April 15th. Jefferies Financial Group started coverage on Citigroup in a research note on Thursday, March 26th. They issued a “buy” rating and a $135.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price target on shares of Citigroup from $131.00 to $135.50 and gave the company an “overweight” rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $139.62.

Citigroup Stock Performance

Shares of C opened at $139.93 on Friday. The firm has a market capitalization of $238.67 billion, a PE ratio of 17.34, a P/E/G ratio of 0.60 and a beta of 1.11. 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 firm has a 50-day moving average price of $132.49 and a 200 day moving average price of $121.88. Citigroup Inc. has a 52-week low of $85.48 and a 52-week high of $147.96.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.43. The company had revenue of $24.63 billion for 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%. Citigroup’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.96 EPS. On average, sell-side analysts anticipate that Citigroup Inc. will post 10.83 earnings per share for the current fiscal year.

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

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.