Cvfg LLC Purchases Shares of 6,653 Citigroup Inc. $C

Cvfg LLC acquired a new stake in shares of Citigroup Inc. (NYSE:C) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,653 shares of the company’s stock, valued at approximately $755,000.

A number of other institutional investors and hedge funds have also made changes to their positions in C. Truist Financial Corp boosted its stake in Citigroup by 4.7% during the 4th quarter. Truist Financial Corp now owns 375,977 shares of the company’s stock valued at $43,873,000 after acquiring an additional 16,744 shares during the last quarter. Gunderson Capital Management Inc. bought a new stake in shares of Citigroup in the 4th quarter worth about $7,165,000. Brighton Jones LLC raised its stake in shares of Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after purchasing an additional 12,499 shares in the last quarter. UniSuper Management Pty Ltd raised its stake in shares of Citigroup by 38.8% in the 4th quarter. UniSuper Management Pty Ltd now owns 1,306,851 shares of the company’s stock valued at $152,496,000 after purchasing an additional 365,041 shares in the last quarter. Finally, Merit Financial Group LLC lifted its position in shares of Citigroup by 15.6% during the fourth quarter. Merit Financial Group LLC now owns 96,453 shares of the company’s stock worth $11,255,000 after purchasing an additional 13,046 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the completion of the transaction, the insider directly owned 182,022 shares of the company’s stock, 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 can be accessed through this hyperlink. Also, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $125.30, for a total value of $265,260.10. Following the completion of 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.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup received bullish analyst attention, including a Bank of America price target increase to $176 and a separate UBS target hike to $150, signaling confidence in the bank’s earnings outlook and upside potential.
• Positive Sentiment: The company was also cited as benefiting from a strong banking backdrop ahead of Q2 earnings, with Wall Street expecting higher revenue and profit growth for financial stocks overall.
• Positive Sentiment: Citi expanded its commodities franchise by joining London Precious Metals Clearing Limited and advising StepStone Group on a landmark $3.3 billion structured solutions vehicle, both of which reinforce its capital-markets and clearing capabilities.
• Neutral Sentiment: Citigroup heads into its July 14 earnings release with investor expectations elevated after a strong recent share-price run, so near-term moves may reflect positioning ahead of results rather than a fundamental change.
• Neutral Sentiment: Recent articles also noted that Citi is projected to report earnings next week and that financial stocks broadly remain in focus as investors look for confirmation of loan-growth and net-interest-margin trends.

Analyst Ratings Changes

Several brokerages recently weighed in on C. Wells Fargo & Company boosted 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. Morgan Stanley lifted their target price on Citigroup from $154.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. JPMorgan Chase & Co. boosted their price target on Citigroup from $135.50 to $149.00 and gave the company an “overweight” rating in a report on Monday. Piper Sandler reissued an “overweight” rating and set a $145.00 price target (up from $125.00) on shares of Citigroup in a research report on Wednesday, April 15th. Finally, UBS Group raised their price objective on Citigroup from $134.00 to $150.00 and gave the stock a “neutral” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Citigroup has an average rating of “Moderate Buy” and an average target price of $145.00.

Citigroup Trading Down 2.4%

NYSE:C opened at $137.40 on Thursday. Citigroup Inc. has a 12-month low of $85.59 and a 12-month high of $147.96. The firm has a market capitalization of $234.35 billion, a P/E ratio of 17.03, a P/E/G ratio of 0.60 and a beta of 1.11. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99. The business has a 50 day simple moving average of $133.22 and a 200 day simple moving average of $122.55.

Citigroup (NYSE:C) last issued its 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. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The firm had revenue of $24.63 billion for the quarter, compared to analyst estimates of $22.96 billion. During the same period last year, the company earned $1.96 earnings per share. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities research analysts predict that Citigroup Inc. will post 10.85 EPS for the current year.

Citigroup declared that its board has initiated a stock buyback plan on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 13.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

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.