Elevated Capital Advisors LLC Boosts Holdings in Citigroup Inc. $C

Elevated Capital Advisors LLC boosted its stake in Citigroup Inc. (NYSE:C) by 5,892.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 4,015 shares of the company’s stock after purchasing an additional 3,948 shares during the period. Elevated Capital Advisors LLC’s holdings in Citigroup were worth $455,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in C. Brighton Jones LLC grew its holdings in Citigroup by 166.9% during the fourth 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 during the period. Sivia Capital Partners LLC raised its stake in shares of Citigroup by 20.5% in the second quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company’s stock valued at $835,000 after buying an additional 1,669 shares during the period. United Bank bought a new stake in shares of Citigroup in the second quarter valued at $972,000. Osterweis Capital Management Inc. lifted its position in shares of Citigroup by 3,016.7% during the 2nd quarter. Osterweis Capital Management Inc. now owns 935 shares of the company’s stock valued at $80,000 after buying an additional 905 shares during the last quarter. Finally, HUB Investment Partners LLC lifted its position in shares of Citigroup by 26.9% during the 2nd quarter. HUB Investment Partners LLC now owns 15,287 shares of the company’s stock valued at $1,301,000 after buying an additional 3,238 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi is expected to collect about $70 million in fees from the SK Hynix listing, underscoring strength in its capital markets and advisory franchise. Article Title
• Positive Sentiment: Multiple pieces this week describe Citigroup (C) as one of the stronger large-bank names ahead of earnings, supported by resilient trading activity, investment banking momentum, and loan demand. Article Title
• Positive Sentiment: Analyst commentary and TV mentions have also kept Citi in the spotlight as a favored bank stock, suggesting continued institutional confidence in the name. Article Title
• Positive Sentiment: Earlier coverage said Citi’s Q1 results were the strongest among diversified banks, reinforcing the view that the company is executing well relative to peers. Article Title
• Neutral Sentiment: Citi also announced that SCB is now live with its 24/7 USD Clearing and Citi Token Services, a constructive step in digital payments infrastructure, but not a near-term earnings driver. Article Title

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on C shares. The Goldman Sachs Group lifted their price objective on Citigroup from $137.00 to $151.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Wells Fargo & Company upped their price objective on shares of Citigroup from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, June 18th. Bank of America increased their target price on shares of Citigroup from $170.00 to $176.00 and gave the stock a “buy” rating in a research report on Tuesday. UBS Group lifted their target price on shares of Citigroup from $134.00 to $150.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Oppenheimer lowered shares of 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 issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.

Citigroup Price Performance

Shares of NYSE C opened at $140.67 on Friday. 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 Inc. has a fifty-two week low of $85.61 and a fifty-two week high of $147.96. The stock has a market cap of $239.92 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 0.65 and a beta of 1.11. The stock has a fifty day moving average of $133.71 and a 200-day moving average of $122.85.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.63 by $0.43. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The business had revenue of $24.63 billion for the quarter, compared to analysts’ expectations of $22.96 billion. During the same quarter in the prior year, the firm posted $1.96 EPS. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. Equities research analysts anticipate that Citigroup Inc. will post 10.89 earnings per share for the current year.

Citigroup declared that its board has approved a share repurchase 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 generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, Director John Cunningham Dugan sold 2,117 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $125.30, for a total value of $265,260.10. Following the sale, the director directly owned 12,194 shares of the company’s stock, valued at approximately $1,527,908.20. This represents a 14.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Edward Skyler sold 25,000 shares of the stock in a transaction dated 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 sale, the insider directly 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. The SEC filing for this sale provides additional information. Corporate insiders own 0.11% of the company’s stock.

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.