Illinois Municipal Retirement Fund Purchases 16,808 Shares of Citigroup Inc. $C

Illinois Municipal Retirement Fund increased its position in shares of Citigroup Inc. (NYSE:C) by 11.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 162,162 shares of the company’s stock after buying an additional 16,808 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Citigroup were worth $18,391,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whipplewood Advisors LLC acquired a new position in Citigroup during the first quarter worth $25,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of Citigroup in the fourth quarter valued at about $25,000. Richards Merrill & Peterson Inc. bought a new stake in Citigroup during the fourth quarter worth about $28,000. TD Capital Management LLC bought a new stake in Citigroup during the fourth quarter worth about $28,000. Finally, Luken Investment Analytics LLC acquired a new position in Citigroup during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup posted a major Q2 earnings beat, with EPS of $3.15 versus $2.74 expected and revenue of about $24.8 billion versus $23.7 billion expected, helped by strong fixed income trading, investment banking, and broad-based strength across its businesses. Article Title
• Positive Sentiment: Management said Citi’s strong quarter reflects a stronger franchise and that it is accelerating investments to support more durable returns, reinforcing the turnaround narrative for the bank. Article Title
• Positive Sentiment: Analysts were upbeat after the report, with RBC reaffirming an outperform rating and a $150 price target, while Truist also kept a buy rating despite trimming its target to $154. Article Title
• Neutral Sentiment: Some valuation commentary said Citigroup may still be near fair value after a strong multi-year rally, suggesting upside is increasingly tied to continued execution rather than just multiple expansion. Article Title
• Negative Sentiment: Despite the earnings beat, shares slipped at times because investors focused on Citi’s higher expense outlook, including accelerated hiring and other investment spending that could pressure second-half profitability. Article Title
• Negative Sentiment: Reports also highlighted possible layoffs and faster job cuts, which may signal ongoing restructuring costs even as the bank tries to complete its transformation. Article Title

Citigroup Price Performance

Shares of NYSE C opened at $135.03 on Thursday. The business’s 50 day moving average price is $134.21 and its two-hundred day moving average price is $123.21. The company has a market cap of $230.31 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 0.62 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 1.71. Citigroup Inc. has a twelve month low of $87.94 and a twelve month high of $147.96.

Citigroup (NYSE:C) last released its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.41. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The firm had revenue of $24.75 billion for the quarter, compared to analyst estimates of $23.74 billion. During the same quarter in the prior year, the company earned $1.96 earnings per share. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, analysts predict that Citigroup Inc. will post 10.89 EPS for the current year.

Citigroup announced that its board has initiated 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 reacquire up to 13.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on C shares. Barclays raised their price target on Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Royal Bank Of Canada reissued an “outperform” rating and issued a $150.00 price objective on shares of Citigroup in a report on Wednesday. Argus set a $150.00 target price on shares of Citigroup in a research note on Wednesday. The Goldman Sachs Group raised their target price on shares of Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Finally, Jefferies Financial Group started coverage on shares of Citigroup in a report on Thursday, March 26th. They set a “buy” rating and a $135.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.67.

Insiders Place Their Bets

In related news, Director John Cunningham Dugan sold 2,117 shares of the stock in a transaction 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 owned 12,194 shares in the company, valued at approximately $1,527,908.20. This represents a 14.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.11% of the company’s stock.

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.