Ascentis Independent Advisors Purchases 11,454 Shares of Citigroup Inc. $C

Ascentis Independent Advisors raised its holdings in Citigroup Inc. (NYSE:C) by 66.3% in the 1st quarter, HoldingsChannel reports. The firm owned 28,743 shares of the company’s stock after purchasing an additional 11,454 shares during the quarter. Ascentis Independent Advisors’ holdings in Citigroup were worth $3,260,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Mcguire Capital Advisors Inc. acquired a new stake in shares of Citigroup in the 4th quarter valued at approximately $25,000. Richards Merrill & Peterson Inc. bought a new position in Citigroup during the 4th quarter worth approximately $28,000. TD Capital Management LLC acquired a new position in Citigroup during the fourth quarter valued at approximately $28,000. Luken Investment Analytics LLC acquired a new position in Citigroup during the fourth quarter valued at approximately $32,000. Finally, High Note Wealth LLC increased its stake in Citigroup by 107.7% in the fourth quarter. High Note Wealth LLC now owns 270 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup News Summary

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

Analysts Set New Price Targets

Several analysts recently commented on the company. Oppenheimer downgraded Citigroup from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a $139.00 target price on shares of Citigroup in a research note on Wednesday, April 15th. Wells Fargo & Company increased their price target on Citigroup from $162.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, June 18th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Citigroup in a research report on Monday, April 20th. Finally, Evercore set a $139.00 price objective on Citigroup in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $139.62.

Insider Activity at Citigroup

In related news, insider Edward Skyler sold 25,000 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Cunningham Dugan sold 2,117 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $125.30, for a total transaction 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 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 Trading Down 0.0%

Citigroup stock opened at $139.93 on Monday. The company has a market cap of $238.67 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 0.60 and a beta of 1.11. The firm has a 50-day moving average of $132.49 and a 200-day moving average of $121.94. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99. Citigroup Inc. has a one year low of $85.48 and a one year high of $147.96.

Citigroup (NYSE:C) last released its earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) 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 business had revenue of $24.63 billion for the quarter, compared to analyst estimates of $22.96 billion. During the same quarter in the prior year, the company posted $1.96 earnings per share. Citigroup’s revenue was up 14.1% on a year-over-year basis. On average, equities analysts expect that Citigroup Inc. will post 10.83 earnings per share for the current fiscal year.

Citigroup announced that its board has authorized a share buyback program on Thursday, May 7th that permits the company to buyback $30.00 billion in shares. This buyback authorization permits the company to reacquire up to 13.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

About Citigroup

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.