Stephens Inc. AR Has $10.36 Million Stake in Citigroup Inc. $C

Stephens Inc. AR reduced its stake in shares of Citigroup Inc. (NYSE:C) by 11.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 91,359 shares of the company’s stock after selling 11,312 shares during the period. Stephens Inc. AR’s holdings in Citigroup were worth $10,361,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mcguire Capital Advisors Inc. acquired a new position in shares of Citigroup in the fourth quarter worth approximately $25,000. Richards Merrill & Peterson Inc. bought a new stake in Citigroup in the fourth quarter valued at approximately $28,000. TD Capital Management LLC acquired a new stake in Citigroup during the 4th quarter valued at approximately $28,000. Luken Investment Analytics LLC bought a new position in Citigroup during the 4th quarter worth approximately $32,000. Finally, High Note Wealth LLC raised its holdings in Citigroup by 107.7% during the 4th quarter. High Note Wealth LLC now owns 270 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Stock Down 1.2%

NYSE C traded down $1.74 on Tuesday, hitting $142.12. 1,917,165 shares of the company were exchanged, compared to its average volume of 13,611,587. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. The company has a market cap of $242.40 billion, a PE ratio of 17.61, a PEG ratio of 0.60 and a beta of 1.11. The stock has a fifty day moving average of $132.80 and a 200-day moving average of $122.17. Citigroup Inc. has a 12 month low of $85.48 and a 12 month high of $147.96.

Citigroup (NYSE:C) last posted its quarterly 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. 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 period in the previous year, the firm posted $1.96 earnings per share. The business’s revenue was up 14.1% compared to the same quarter last year. As a group, analysts forecast that Citigroup Inc. will post 10.83 earnings per share for the current year.

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

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: JPMorgan raised its price target on Citigroup to $149 from $135.50 and reiterated an Overweight rating, signaling confidence in further upside ahead of earnings. Benzinga report on JPMorgan price target increase
• Positive Sentiment: Analysts expect U.S. bank earnings, including Citigroup (C), to benefit from a surge in sales and trading revenue and solid M&A advisory fees, helped in part by the blockbuster SpaceX IPO. Reuters article on Wall Street bank earnings
• Positive Sentiment: Citigroup was highlighted in a broader bullish note on big-bank stocks, with JPMorgan saying investment-banking and trading revenues may exceed prior guidance and lifting targets across the group. Yahoo Finance article on bank stocks rallying ahead of earnings
• Positive Sentiment: Citigroup also announced a new expansion in its commodities business by becoming a clearing member of London Precious Metals Clearing Limited, broadening its gold, silver, platinum and palladium settlement services. Business Wire article on Citi precious metals clearing
• Neutral Sentiment: Multiple pieces noted that Citigroup (C) is expected to report quarterly earnings on Tuesday, with consensus calling for higher EPS year over year; the report itself is the main near-term catalyst. American Banking News earnings preview
• Neutral Sentiment: Citigroup was also mentioned for appointing Citi as depositary bank for Vicore Pharma’s ADR program, a routine fee-generating services win with limited immediate stock impact. Yahoo Finance article on Vicore Pharma ADR appointment

Insider Activity

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was 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. This represents a 12.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Cunningham Dugan sold 2,117 shares of the firm’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 value of $265,260.10. Following the completion of the sale, the director directly owned 12,194 shares of the company’s stock, valued at $1,527,908.20. This trade represents a 14.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

C has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on shares of Citigroup from $147.00 to $158.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. Morgan Stanley lifted their target price on shares of Citigroup from $154.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Royal Bank Of Canada restated an “outperform” rating and issued a $139.00 target price on shares of Citigroup in a report on Wednesday, April 15th. Wall Street Zen raised shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Evercore set a $143.00 price target on Citigroup in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

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.