59,530 Shares in Citigroup Inc. $C Bought by Beacon Harbor Wealth Advisors Inc.

Beacon Harbor Wealth Advisors Inc. purchased a new position in shares of Citigroup Inc. (NYSE:C) during the first quarter, Holdings Channel.com reports. The institutional investor purchased 59,530 shares of the company’s stock, valued at approximately $6,751,000.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted 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 in the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Citigroup by 20.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company’s stock worth $835,000 after buying an additional 1,669 shares in the last quarter. United Bank bought a new position in shares of Citigroup during the 2nd quarter worth approximately $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 worth $80,000 after buying an additional 905 shares during the period. Finally, HUB Investment Partners LLC boosted its stake in Citigroup by 26.9% in 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 in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Insider Buying and Selling at Citigroup

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 value of $3,285,250.00. Following the transaction, the insider directly owned 182,022 shares in the company, valued at approximately $23,919,511.02. This trade represents a 12.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Cunningham Dugan sold 2,117 shares of Citigroup 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 directly owned 12,194 shares of the company’s stock, valued at $1,527,908.20. This trade represents a 14.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.11% of the stock is currently owned by corporate insiders.

Citigroup News Summary

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

Citigroup Stock Up 0.8%

Shares of NYSE C opened at $140.67 on Friday. The firm’s 50-day simple moving average is $133.71 and its 200 day simple moving average is $122.85. The company has a market cap of $239.92 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 0.65 and a beta of 1.11. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. Citigroup Inc. has a 12-month low of $85.61 and a 12-month high of $147.96.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share 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 firm had revenue of $24.63 billion during the quarter, compared to analysts’ expectations of $22.96 billion. During the same quarter last year, the company posted $1.96 EPS. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, research analysts expect that Citigroup Inc. will post 10.89 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

A number of analysts have weighed in on the company. Jefferies Financial Group started coverage on Citigroup in a research report on Thursday, March 26th. They issued a “buy” rating and a $135.00 price target on the stock. Truist Financial boosted their target price on shares of Citigroup from $147.00 to $158.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Bank of America upped their target price on shares of Citigroup from $170.00 to $176.00 and gave the stock a “buy” rating in a report on Tuesday. Keefe, Bruyette & Woods lifted their price target on shares of Citigroup from $140.00 to $153.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Citigroup in a research report on Monday, April 20th. One 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $145.00.

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.