Flatrock Wealth Partners LLC Makes New $514,000 Investment in Citigroup Inc. $C

Flatrock Wealth Partners LLC purchased a new stake in shares of Citigroup Inc. (NYSE:C) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,535 shares of the company’s stock, valued at approximately $514,000.

Other large investors have also added to or reduced their stakes in the company. Cora Capital Advisors LLC grew its position in shares of Citigroup by 3.1% during the 1st quarter. Cora Capital Advisors LLC now owns 2,609 shares of the company’s stock valued at $296,000 after acquiring an additional 78 shares during the period. Verus Capital Partners LLC grew its holdings in Citigroup by 3.1% during the fourth quarter. Verus Capital Partners LLC now owns 2,748 shares of the company’s stock valued at $321,000 after purchasing an additional 82 shares during the period. Elmwood Wealth Management Inc. increased its position in Citigroup by 1.3% in the fourth quarter. Elmwood Wealth Management Inc. now owns 6,845 shares of the company’s stock worth $799,000 after buying an additional 85 shares during the last quarter. Park Place Capital Corp raised its stake in shares of Citigroup by 16.7% in the fourth quarter. Park Place Capital Corp now owns 595 shares of the company’s stock valued at $69,000 after buying an additional 85 shares during the period. Finally, D.B. Root & Company LLC lifted its position in shares of Citigroup by 2.8% during the 4th quarter. D.B. Root & Company LLC now owns 3,191 shares of the company’s stock valued at $372,000 after buying an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on C. Morgan Stanley upped their price objective on shares of Citigroup from $154.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, June 29th. JPMorgan Chase & Co. boosted their price target on shares of Citigroup from $135.50 to $149.00 and gave the company an “overweight” rating in a research report on Monday. Royal Bank Of Canada restated an “outperform” rating and issued a $139.00 price objective on shares of Citigroup in a research report on Wednesday, April 15th. Barclays upped their target price on shares of Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Finally, Bank of America increased their target price on Citigroup from $170.00 to $176.00 and gave the company a “buy” rating in a research note on Tuesday. One research 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

Citigroup Price Performance

C stock opened at $140.75 on Wednesday. The firm has a market cap of $240.05 billion, a P/E ratio of 17.44, a P/E/G ratio of 0.62 and a beta of 1.11. The firm’s fifty day moving average is $133.05 and its 200 day moving average is $122.37. Citigroup Inc. has a 52 week low of $85.48 and a 52 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 posted its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) 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 business had revenue of $24.63 billion during the quarter, compared to analyst estimates of $22.96 billion. During the same period in the prior year, the business posted $1.96 earnings per share. The company’s revenue was up 14.1% on a year-over-year basis. Research analysts predict that Citigroup Inc. will post 10.83 earnings per share for the current year.

Citigroup announced that its board has approved a share buyback plan on Thursday, May 7th that permits the company to buyback $30.00 billion in shares. This buyback authorization permits the company to repurchase 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 stock is undervalued.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Bank of America and UBS both raised their price targets on Citigroup, and JPMorgan also lifted its target while keeping an overweight view, reinforcing bullish expectations ahead of earnings.
• Positive Sentiment: Wall Street is expecting strong second-quarter results from big banks, with analysts citing better trading and investment-banking revenue and potential earnings upside for Citigroup.
• Positive Sentiment: Citigroup expanded its precious-metals franchise by becoming a clearing member of London Precious Metals Clearing Limited, which broadens its gold, silver, platinum, and palladium settlement services.
• Positive Sentiment: Citi was also named depositary bank for Vicore Pharma’s ADR program, adding another piece of issuer-services business that supports fee generation.
• Neutral Sentiment: The bank is set to report quarterly earnings next week, and investors are positioning around whether Citigroup can deliver an earnings beat and confirm the recent positive analyst revisions. Article Title
• Negative Sentiment: A podcast-style consumer complaint about an elderly widow’s credit-card debt mentioned Citi cards and could add a small reputational overhang, though it is unlikely to move the stock much on its own. Article Title

Insider Transactions at Citigroup

In related news, Director John Cunningham Dugan sold 2,117 shares of the 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 completion of the sale, the director directly owned 12,194 shares in the company, valued at $1,527,908.20. This represents a 14.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Edward Skyler sold 25,000 shares of the firm’s 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. The trade was a 12.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.11% of the company’s stock.

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.