Sequoia Financial Advisors LLC Boosts Stake in Citigroup Inc. $C

Sequoia Financial Advisors LLC increased its position in Citigroup Inc. (NYSE:C) by 1.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 272,410 shares of the company’s stock after purchasing an additional 3,848 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Citigroup were worth $30,894,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in C. Vanguard Group Inc. lifted its holdings in shares of Citigroup by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company’s stock valued at $19,048,467,000 after purchasing an additional 4,938,923 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Citigroup by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 43,252,372 shares of the company’s stock worth $5,036,712,000 after buying an additional 189,548 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Citigroup by 4.0% in the 4th quarter. Franklin Resources Inc. now owns 34,196,783 shares of the company’s stock worth $3,990,422,000 after buying an additional 1,326,224 shares during the last quarter. Fisher Asset Management LLC increased its position in Citigroup by 2.6% during the 4th quarter. Fisher Asset Management LLC now owns 33,887,285 shares of the company’s stock valued at $3,954,307,000 after buying an additional 846,772 shares in the last quarter. Finally, Norges Bank bought a new position in Citigroup during the 4th quarter valued at approximately $2,800,944,000. Institutional investors own 71.72% of the company’s stock.

Insiders Place Their Bets

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the stock in a transaction dated 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 owned 182,022 shares of the company’s stock, valued at approximately $23,919,511.02. This represents a 12.08% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following the completion of the transaction, the director directly owned 12,194 shares in the company, 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 currently owned by corporate insiders.

Key Stories Impacting Citigroup

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 Performance

Shares of Citigroup stock traded up $1.10 during trading on Friday, hitting $140.67. 10,510,425 shares of the company’s stock traded hands, compared to its average volume of 12,496,730. Citigroup Inc. has a 1 year low of $85.61 and a 1 year high of $147.96. The business has a 50-day simple moving average of $133.71 and a 200-day simple moving average of $122.85. The stock has a market capitalization of $239.92 billion, a P/E ratio of 17.43, a PEG ratio of 0.65 and a beta of 1.11. 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 (NYSE:C) last announced its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.43. The firm had revenue of $24.63 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $1.96 earnings per share. As a group, analysts forecast that Citigroup Inc. will post 10.89 EPS for the current year.

Citigroup declared that its Board of Directors has authorized 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 often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Evercore set a $143.00 target price on Citigroup in a report on Monday. Jefferies Financial Group began coverage on Citigroup in a report on Thursday, March 26th. They set a “buy” rating and a $135.00 price target for the company. Keefe, Bruyette & Woods lifted their price target on Citigroup from $140.00 to $153.00 and gave the stock 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, Wall Street Zen raised shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One research 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, Citigroup has an average rating of “Moderate Buy” and an average target price of $145.00.

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.