6,653 Shares in Citigroup Inc. $C Purchased by Cvfg LLC

Cvfg LLC acquired a new position in shares of Citigroup Inc. (NYSE:C) during the 1st quarter, HoldingsChannel reports. The institutional investor acquired 6,653 shares of the company’s stock, valued at approximately $755,000.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on C shares. Weiss Ratings restated a “buy (b)” rating on shares of Citigroup in a report on Monday, April 20th. Oppenheimer lowered Citigroup from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Jefferies Financial Group began coverage on Citigroup in a research note on Thursday, March 26th. They issued a “buy” rating and a $135.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on Citigroup from $135.50 to $149.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Bank of America lifted their target price on Citigroup from $170.00 to $176.00 and gave the company a “buy” rating in a research note on Tuesday. One equities research 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 company’s stock. According to data from MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

Trending Headlines about Citigroup

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.

Citigroup Price Performance

Shares of NYSE:C opened at $137.40 on Thursday. 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 Inc. has a 1 year low of $85.59 and a 1 year high of $147.96. The business has a fifty day simple moving average of $133.22 and a 200 day simple moving average of $122.55. The firm has a market cap of $234.35 billion, a price-to-earnings ratio of 17.03, a P/E/G ratio of 0.60 and a beta of 1.11.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, beating 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 firm had revenue of $24.63 billion for the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter in the previous year, the company posted $1.96 earnings per share. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, sell-side analysts predict that Citigroup Inc. will post 10.85 earnings per share for the current fiscal year.

Citigroup declared that its Board of Directors has approved a stock buyback program on Thursday, May 7th that allows the company to buyback $30.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 13.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, Director John Cunningham Dugan sold 2,117 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following the transaction, the director owned 12,194 shares in the company, valued at approximately $1,527,908.20. This represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Edward Skyler sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total transaction 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. The trade was a 12.08% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.11% of the stock is owned by insiders.

Citigroup 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.