Citizens Financial Group Inc. RI Sells 6,945 Shares of Citigroup Inc. $C

Citizens Financial Group Inc. RI lessened its stake in shares of Citigroup Inc. (NYSE:C) by 3.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 211,248 shares of the company’s stock after selling 6,945 shares during the period. Citizens Financial Group Inc. RI’s holdings in Citigroup were worth $23,958,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Truist Financial Corp lifted its position in shares of Citigroup by 4.7% during the fourth quarter. Truist Financial Corp now owns 375,977 shares of the company’s stock worth $43,873,000 after purchasing an additional 16,744 shares during the last quarter. Gunderson Capital Management Inc. purchased a new position in Citigroup in the 4th quarter worth about $7,165,000. Brighton Jones LLC increased its stake in Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after buying an additional 12,499 shares during the period. UniSuper Management Pty Ltd lifted its holdings in Citigroup by 38.8% during the 4th quarter. UniSuper Management Pty Ltd now owns 1,306,851 shares of the company’s stock valued at $152,496,000 after buying an additional 365,041 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in Citigroup by 11.8% in the 4th quarter. Nordea Investment Management AB now owns 7,986,407 shares of the company’s stock valued at $933,891,000 after buying an additional 844,056 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Citigroup Stock Up 0.8%

Shares of C traded up $1.10 during mid-day trading on Friday, hitting $140.67. The company’s stock had a trading volume of 10,510,425 shares, compared to its average volume of 12,496,730. The company’s 50-day moving average is $133.71 and its 200-day moving average is $122.85. Citigroup Inc. has a 52-week low of $85.61 and a 52-week high of $147.96. The firm has a market capitalization of $239.92 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 0.66 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 issued its quarterly earnings data 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. The company had revenue of $24.63 billion for the quarter, compared to analyst estimates of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. Citigroup’s revenue was up 14.1% compared to the same quarter last year. During the same period last year, the company posted $1.96 earnings per share. On average, equities research analysts forecast that Citigroup Inc. will post 10.89 EPS for the current fiscal year.

Citigroup declared that its Board of Directors has initiated a share repurchase program on Thursday, May 7th that permits the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 13.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

C has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Truist Financial boosted their price target on Citigroup from $147.00 to $158.00 and gave the company a “buy” rating in a report on Friday, June 26th. Royal Bank Of Canada reissued an “outperform” rating and issued a $139.00 price objective on shares of Citigroup in a research note on Wednesday, April 15th. Keefe, Bruyette & Woods raised their price objective on Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Wells Fargo & Company lifted their target price on Citigroup from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, June 18th. One investment 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

Citigroup News Roundup

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

Insider Buying and Selling at Citigroup

In related news, insider Edward Skyler sold 25,000 shares of the firm’s 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 sale, the insider owned 182,022 shares of the company’s stock, valued at $23,919,511.02. This trade represents a 12.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Cunningham Dugan sold 2,117 shares of Citigroup 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 completion of the transaction, the director owned 12,194 shares in the company, valued at $1,527,908.20. This trade represents a 14.79% decrease in their position. The disclosure for this sale is available in the SEC filing. 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.