Hodges Capital Management Inc. Has $8.71 Million Stock Holdings in Citigroup Inc. $C

Hodges Capital Management Inc. increased its holdings in shares of Citigroup Inc. (NYSE:C) by 10.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 76,792 shares of the company’s stock after purchasing an additional 7,389 shares during the quarter. Hodges Capital Management Inc.’s holdings in Citigroup were worth $8,709,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Mcguire Capital Advisors Inc. acquired a new stake in Citigroup during the 4th quarter worth about $25,000. Richards Merrill & Peterson Inc. purchased a new stake in shares of Citigroup in the fourth quarter worth approximately $28,000. TD Capital Management LLC purchased a new stake in shares of Citigroup in the fourth quarter worth approximately $28,000. Luken Investment Analytics LLC acquired a new stake in shares of Citigroup during the fourth quarter worth approximately $32,000. Finally, High Note Wealth LLC boosted its holdings in shares of Citigroup by 107.7% during the fourth 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 period. 71.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Citigroup

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider owned 182,022 shares of the company’s stock, valued at $23,919,511.02. The trade was a 12.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction dated 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 of the company’s stock, 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. Corporate insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Royal Bank Of Canada reiterated an “outperform” rating and issued a $139.00 price objective on shares of Citigroup in a research note on Wednesday, April 15th. Wells Fargo & Company boosted their price target on shares of Citigroup from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, June 18th. Wall Street Zen raised shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. increased their price objective on Citigroup from $131.00 to $135.50 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, Oppenheimer cut Citigroup from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. One equities research 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.62.

Citigroup Price Performance

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

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share 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 business had revenue of $24.63 billion for the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter last year, the firm earned $1.96 EPS. Citigroup’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, equities analysts predict that Citigroup Inc. will post 10.83 earnings per share for the current fiscal year.

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

Key Citigroup News

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

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.