Staley Capital Advisers Inc. Has $38.68 Million Stake in Citigroup Inc. $C

Staley Capital Advisers Inc. lowered its position in shares of Citigroup Inc. (NYSE:C) by 2.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 341,030 shares of the company’s stock after selling 8,005 shares during the period. Citigroup accounts for approximately 1.6% of Staley Capital Advisers Inc.’s investment portfolio, making the stock its 20th biggest holding. Staley Capital Advisers Inc.’s holdings in Citigroup were worth $38,676,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Mcguire Capital Advisors Inc. acquired a new stake in shares of Citigroup during the fourth quarter worth $25,000. Richards Merrill & Peterson Inc. acquired a new position in shares of Citigroup in the fourth quarter valued at about $28,000. TD Capital Management LLC bought a new position in Citigroup during the fourth quarter worth about $28,000. Luken Investment Analytics LLC bought a new position in Citigroup during the fourth quarter worth about $32,000. Finally, High Note Wealth LLC raised its stake in Citigroup by 107.7% in 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 institutional investors and hedge funds.

Insider Activity at Citigroup

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the business’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 completion of the transaction, the insider directly owned 182,022 shares in the company, valued at $23,919,511.02. The trade was 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 at this link. Also, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction 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 $1,527,908.20. The trade was 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 owned by insiders.

Citigroup Trading Down 2.4%

Shares of Citigroup stock opened at $137.40 on Thursday. 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 $85.59 and a 12-month high of $147.96. The company has a market capitalization of $234.35 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 0.60 and a beta of 1.11. The firm’s 50-day moving average price is $133.22 and its two-hundred day moving average price is $122.55.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.63 by $0.43. The company had revenue of $24.63 billion during the quarter, compared to analysts’ expectations of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.96 EPS. On average, analysts forecast that Citigroup Inc. will post 10.85 earnings per share for the current fiscal year.

Citigroup declared that its board has initiated a share buyback plan on Thursday, May 7th that allows the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 13.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Citigroup News Roundup

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.

Wall Street Analysts Forecast Growth

C has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on shares of Citigroup from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, June 18th. UBS Group raised their target price on shares of Citigroup from $134.00 to $150.00 and gave the stock a “neutral” 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 research report on Friday, May 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a research note on Monday, April 20th. Finally, Barclays increased their price target on Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. One investment 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 company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $145.00.

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.