Citigroup Inc. $C Shares Sold by Kestra Advisory Services LLC

Kestra Advisory Services LLC reduced its holdings in shares of Citigroup Inc. (NYSE:C) by 8.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 124,956 shares of the company’s stock after selling 12,194 shares during the quarter. Kestra Advisory Services LLC’s holdings in Citigroup were worth $14,171,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Truist Financial Corp lifted its stake in Citigroup by 4.7% during the fourth quarter. Truist Financial Corp now owns 375,977 shares of the company’s stock worth $43,873,000 after purchasing an additional 16,744 shares during the last quarter. Gunderson Capital Management Inc. bought a new stake in Citigroup during the fourth quarter valued at $7,165,000. Brighton Jones LLC raised its holdings in shares of Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after purchasing an additional 12,499 shares during the period. UniSuper Management Pty Ltd lifted its position in shares of Citigroup by 38.8% in the 4th quarter. UniSuper Management Pty Ltd now owns 1,306,851 shares of the company’s stock worth $152,496,000 after buying an additional 365,041 shares during the last quarter. Finally, Merit Financial Group LLC boosted its holdings in shares of Citigroup by 15.6% in the 4th quarter. Merit Financial Group LLC now owns 96,453 shares of the company’s stock valued at $11,255,000 after buying an additional 13,046 shares during the period. Institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

NYSE C opened at $140.67 on Monday. Citigroup Inc. has a 12 month low of $85.61 and a 12 month high of $147.96. The firm has a market capitalization of $239.92 billion, a PE ratio of 17.43, a P/E/G ratio of 0.66 and a beta of 1.11. The company’s 50 day simple moving average is $133.71 and its 200 day simple moving average is $122.88. 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 issued its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (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 during the quarter, compared to analyst estimates of $22.96 billion. During the same period last year, the company posted $1.96 EPS. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, equities research analysts forecast that Citigroup Inc. will post 10.89 EPS for the current fiscal year.

Citigroup declared that its board has initiated a stock buyback program 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 programs are typically an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

C has been the topic of a number of recent research reports. 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, July 7th. Truist Financial boosted their price objective on Citigroup from $147.00 to $158.00 and gave the company a “buy” rating in a research report on Friday, June 26th. Bank of America increased their target price on Citigroup from $170.00 to $176.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $145.00 price objective (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Citigroup in a research report on Monday, April 20th. One 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 stock. Based on data from MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and an average target price of $145.00.

Insider Activity

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction dated 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 approximately $1,527,908.20. This represents a 14.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward Skyler sold 25,000 shares of the firm’s stock in a transaction dated 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 owned 182,022 shares of the company’s stock, valued at approximately $23,919,511.02. This trade represents a 12.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.11% of the company’s stock.

Key Headlines 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 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.