R Squared Ltd Purchases 9,016 Shares of Citigroup Inc. $C

R Squared Ltd lifted its position in shares of Citigroup Inc. (NYSE:C) by 166.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,419 shares of the company’s stock after acquiring an additional 9,016 shares during the quarter. Citigroup makes up about 0.9% of R Squared Ltd’s investment portfolio, making the stock its 13th largest position. R Squared Ltd’s holdings in Citigroup were worth $1,635,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Mcguire Capital Advisors Inc. bought a new position in Citigroup in the fourth quarter valued at about $25,000. Richards Merrill & Peterson Inc. bought a new stake in Citigroup during the 4th quarter worth about $28,000. TD Capital Management LLC acquired a new position in Citigroup during the 4th quarter valued at about $28,000. Luken Investment Analytics LLC acquired a new position in Citigroup during the 4th quarter valued at about $32,000. Finally, High Note Wealth LLC boosted its stake in shares of Citigroup by 107.7% in the 4th quarter. High Note Wealth LLC now owns 270 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Piper Sandler reissued an “overweight” rating and set a $145.00 price target (up from $125.00) on shares of Citigroup in a research note on Wednesday, April 15th. Bank of America upped their target price on shares of Citigroup from $170.00 to $176.00 and gave the company a “buy” rating in a research report on Tuesday. Royal Bank Of Canada restated an “outperform” rating and issued a $139.00 price target on shares of Citigroup in a research report on Wednesday, April 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a report on Monday, April 20th. Finally, UBS Group increased their target price on Citigroup from $134.00 to $150.00 and gave the company a “neutral” rating in a research note on Tuesday. 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 company’s stock. Based on data from MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and an average target price of $145.00.

Citigroup Stock Down 1.4%

NYSE C traded down $2.02 on Tuesday, reaching $141.84. The company had a trading volume of 3,051,022 shares, compared to its average volume of 13,622,810. The company’s fifty day moving average is $132.80 and its 200-day moving average is $122.17. The firm has a market capitalization of $241.93 billion, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 0.60 and a beta of 1.11. 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 1-year low of $85.48 and a 1-year high of $147.96.

Citigroup (NYSE:C) last issued its quarterly 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. The company had revenue of $24.63 billion for the quarter, compared to analyst estimates of $22.96 billion. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.96 earnings per share. On average, research analysts forecast that Citigroup Inc. will post 10.83 earnings per share for the current fiscal year.

Citigroup declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 13.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, Director John Cunningham Dugan sold 2,117 shares of Citigroup 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 sale, the director owned 12,194 shares of the company’s stock, valued at approximately $1,527,908.20. This trade represents a 14.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction on 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. This represents a 12.08% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.11% of the stock is currently owned by company insiders.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Bank of America raised its price target on Citigroup to $176 from $170 and reiterated a buy rating, signaling confidence in further upside for the stock. Benzinga
• Positive Sentiment: UBS also lifted its target on Citigroup to $150 from $134, while JPMorgan raised its target to $149 and maintained an overweight view, reinforcing a broadly bullish analyst tone. Benzinga
• Positive Sentiment: Investors are positioning for Citigroup’s upcoming earnings, with Wall Street expecting earnings growth and some previews suggesting the bank could beat estimates on improved revenue and trading activity. Zacks
• Positive Sentiment: Separately, Citi was highlighted in a broader bank-sector note saying trading and investment-banking revenues may come in better than previously expected, which could support upcoming earnings across large banks. Yahoo Finance
• Neutral Sentiment: Citi also announced a new role as a clearing member of London Precious Metals Clearing Limited, expanding its commodities and precious-metals settlement capabilities. Business Wire
• Neutral Sentiment: Markets also noted Citi’s appointment as depositary bank for Vicore Pharma’s ADR program, a routine capital-markets win that adds modestly to fee-generating activity. Yahoo Finance

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.