Citigroup Inc. $C Shares Bought by Busey Bank

Busey Bank grew its stake in Citigroup Inc. (NYSE:C) by 4.2% during the 1st quarter, HoldingsChannel reports. The firm owned 207,104 shares of the company’s stock after buying an additional 8,401 shares during the quarter. Busey Bank’s holdings in Citigroup were worth $23,488,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Kathmere Capital Management LLC lifted its stake in shares of Citigroup by 1.1% in the 1st quarter. Kathmere Capital Management LLC now owns 22,585 shares of the company’s stock valued at $2,561,000 after purchasing an additional 247 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in Citigroup by 23.7% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 18,367 shares of the company’s stock valued at $2,156,000 after buying an additional 3,520 shares during the period. DGS Capital Management LLC increased its holdings in Citigroup by 61.7% in the first quarter. DGS Capital Management LLC now owns 4,440 shares of the company’s stock valued at $504,000 after buying an additional 1,694 shares in the last quarter. Ascentis Independent Advisors raised its position in shares of Citigroup by 66.3% in the first quarter. Ascentis Independent Advisors now owns 28,743 shares of the company’s stock worth $3,260,000 after acquiring an additional 11,454 shares during the period. Finally, LVZ Inc. raised its position in shares of Citigroup by 4.0% in the first quarter. LVZ Inc. now owns 10,597 shares of the company’s stock worth $1,202,000 after acquiring an additional 406 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Price Performance

NYSE:C opened at $139.93 on Monday. The stock has a 50 day moving average of $132.49 and a two-hundred day moving average of $121.94. Citigroup Inc. has a 12 month low of $85.48 and a 12 month high of $147.96. The firm has a market cap of $238.67 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 0.60 and a beta of 1.11. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59.

Citigroup (NYSE:C) last released its 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. The business 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 business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.96 earnings per share. On average, analysts expect that Citigroup Inc. will post 10.83 earnings per share for the current fiscal year.

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

Key Headlines Impacting Citigroup

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on Citigroup from $131.00 to $135.50 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Keefe, Bruyette & Woods raised their price objective on Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Piper Sandler restated an “overweight” rating and issued a $145.00 price objective (up from $125.00) on shares of Citigroup in a research report on Wednesday, April 15th. Barclays upped their target price on Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $139.62.

Insider Buying and Selling at Citigroup

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the firm’s stock in a transaction 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 trade represents a 12.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction on 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 in the company, valued at approximately $1,527,908.20. This trade represents a 14.79% decrease in their position. The SEC filing for this sale provides additional information. 0.11% of the stock is currently owned by corporate insiders.

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.