Citigroup Inc. $C Shares Sold by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI lessened its holdings in shares of Citigroup Inc. (NYSE:C) by 3.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 211,248 shares of the company’s stock after selling 6,945 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Citigroup were worth $23,958,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Mcguire Capital Advisors Inc. purchased a new position in shares of Citigroup in the 4th quarter valued at approximately $25,000. Whipplewood Advisors LLC acquired a new position in Citigroup during the 1st quarter valued at approximately $25,000. Richards Merrill & Peterson Inc. acquired a new position in Citigroup during the 4th quarter valued at approximately $28,000. TD Capital Management LLC purchased a new position in shares of Citigroup in the fourth quarter worth $28,000. Finally, Luken Investment Analytics LLC acquired a new stake in shares of Citigroup during the fourth quarter worth $32,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Stock Performance

NYSE C traded up $1.10 on Friday, reaching $140.67. 10,510,425 shares of the company’s stock traded hands, compared to its average volume of 12,496,730. The firm has a market cap of $239.92 billion, a price-to-earnings ratio of 17.43, a P/E/G ratio of 0.66 and a beta of 1.11. The stock has a 50 day moving average price of $133.71 and a 200-day moving average price of $122.85. Citigroup Inc. has a fifty-two week low of $85.61 and a fifty-two week high of $147.96. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 9.19% and a net margin of 9.35%.The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the firm earned $1.96 EPS. Equities research analysts predict that Citigroup Inc. will post 10.89 EPS for the current fiscal year.

Citigroup announced that its board has approved a share buyback plan on Thursday, May 7th that allows the company to buyback $30.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 13.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward Skyler sold 25,000 shares of Citigroup 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 of the company’s stock, valued at approximately $23,919,511.02. This represents a 12.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.11% of the stock is owned by company insiders.

Citigroup News Roundup

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on C. The Goldman Sachs Group boosted their price objective on shares of Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Wall Street Zen raised Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Wells Fargo & Company increased their price objective on Citigroup from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, June 18th. Jefferies Financial Group initiated coverage on Citigroup in a research note on Thursday, March 26th. They issued a “buy” rating and a $135.00 price objective for the company. Finally, Keefe, Bruyette & Woods lifted their target price on Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and an average 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.