Sequoia Financial Advisors LLC Buys 3,848 Shares of Citigroup Inc. $C

Sequoia Financial Advisors LLC lifted its stake in Citigroup Inc. (NYSE:C) by 1.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 272,410 shares of the company’s stock after buying an additional 3,848 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Citigroup were worth $30,894,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Cora Capital Advisors LLC raised its stake in Citigroup by 3.1% during the 1st quarter. Cora Capital Advisors LLC now owns 2,609 shares of the company’s stock worth $296,000 after acquiring an additional 78 shares during the period. CFS Investment Advisory Services LLC boosted its position in shares of Citigroup by 0.4% in the first quarter. CFS Investment Advisory Services LLC now owns 20,596 shares of the company’s stock worth $2,336,000 after purchasing an additional 79 shares during the period. Verus Capital Partners LLC boosted its position in shares of Citigroup by 3.1% in the fourth quarter. Verus Capital Partners LLC now owns 2,748 shares of the company’s stock worth $321,000 after purchasing an additional 82 shares during the period. Elmwood Wealth Management Inc. increased its stake in shares of Citigroup by 1.3% in the fourth quarter. Elmwood Wealth Management Inc. now owns 6,845 shares of the company’s stock worth $799,000 after purchasing an additional 85 shares in the last quarter. Finally, Park Place Capital Corp increased its stake in shares of Citigroup by 16.7% in the fourth quarter. Park Place Capital Corp now owns 595 shares of the company’s stock worth $69,000 after purchasing an additional 85 shares in the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Price Performance

Shares of C traded up $1.10 during mid-day trading on Friday, hitting $140.67. 10,510,425 shares of the stock were exchanged, compared to its average volume of 12,496,730. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $239.92 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 0.65 and a beta of 1.11. Citigroup Inc. has a 52-week low of $85.61 and a 52-week high of $147.96. The firm has a 50-day moving average of $133.71 and a two-hundred day moving average of $122.85.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.43. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The firm had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter last year, the firm earned $1.96 EPS. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities analysts predict that Citigroup Inc. will post 10.89 earnings per share for the current year.

Citigroup declared that its Board of Directors has approved a stock buyback plan on Thursday, May 7th that allows the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 13.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Trending Headlines about Citigroup

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

Insiders Place Their Bets

In related news, insider Edward Skyler sold 25,000 shares of the company’s stock in a transaction dated 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 directly owned 182,022 shares in the company, valued at approximately $23,919,511.02. This represents a 12.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Cunningham Dugan sold 2,117 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was 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 of the company’s stock, 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.

Analysts Set New Price Targets

C has been the subject of several recent analyst reports. Truist Financial upped their target price on shares of Citigroup from $147.00 to $158.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Jefferies Financial Group began coverage on Citigroup in a research report on Thursday, March 26th. They issued a “buy” rating and a $135.00 price objective on the stock. Bank of America upped their price objective on Citigroup from $170.00 to $176.00 and gave the stock a “buy” rating in a research note on Tuesday. Weiss Ratings reissued a “buy (b)” rating on shares of Citigroup in a report on Monday, April 20th. Finally, Wells Fargo & Company increased their price objective on shares of Citigroup from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, June 18th. 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

Citigroup 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.