Citigroup Inc. $C Shares Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC increased its holdings in shares of Citigroup Inc. (NYSE:C) by 8.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,974 shares of the company’s stock after buying an additional 17,907 shares during the period. Wealthfront Advisers LLC’s holdings in Citigroup were worth $25,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in C. Mcguire Capital Advisors Inc. purchased a new stake in Citigroup during the 4th quarter worth approximately $25,000. Whipplewood Advisors LLC purchased a new position in shares of Citigroup in the first quarter valued at approximately $25,000. Richards Merrill & Peterson Inc. purchased a new position in shares of Citigroup in the fourth quarter valued at approximately $28,000. TD Capital Management LLC acquired a new stake in shares of Citigroup in the fourth quarter worth approximately $28,000. Finally, Luken Investment Analytics LLC purchased a new stake in shares of Citigroup during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup posted a major Q2 earnings beat, with EPS of $3.15 versus $2.74 expected and revenue of about $24.8 billion versus $23.7 billion expected, helped by strong fixed income trading, investment banking, and broad-based strength across its businesses. Article Title
• Positive Sentiment: Management said Citi’s strong quarter reflects a stronger franchise and that it is accelerating investments to support more durable returns, reinforcing the turnaround narrative for the bank. Article Title
• Positive Sentiment: Analysts were upbeat after the report, with RBC reaffirming an outperform rating and a $150 price target, while Truist also kept a buy rating despite trimming its target to $154. Article Title
• Neutral Sentiment: Some valuation commentary said Citigroup may still be near fair value after a strong multi-year rally, suggesting upside is increasingly tied to continued execution rather than just multiple expansion. Article Title
• Negative Sentiment: Despite the earnings beat, shares slipped at times because investors focused on Citi’s higher expense outlook, including accelerated hiring and other investment spending that could pressure second-half profitability. Article Title
• Negative Sentiment: Reports also highlighted possible layoffs and faster job cuts, which may signal ongoing restructuring costs even as the bank tries to complete its transformation. Article Title

Citigroup Stock Up 1.3%

NYSE:C opened at $135.03 on Thursday. Citigroup Inc. has a 52 week low of $87.94 and a 52 week high of $147.96. The stock’s fifty day moving average is $134.21 and its two-hundred day moving average is $123.21. The stock has a market capitalization of $230.31 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 0.62 and a beta of 1.11. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.71.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, beating the consensus estimate of $2.74 by $0.41. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The business had revenue of $24.75 billion during the quarter, compared to analyst estimates of $23.74 billion. During the same quarter last year, the firm posted $1.96 earnings per share. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. Research analysts anticipate that Citigroup Inc. will post 10.89 EPS for the current year.

Citigroup announced that its Board of Directors has approved a stock buyback program on Thursday, May 7th that authorizes the company to buyback $30.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase 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 shares are undervalued.

Insider Activity at Citigroup

In other news, Director John Cunningham Dugan sold 2,117 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $125.30, for a total transaction of $265,260.10. Following the completion of the transaction, the director directly owned 12,194 shares of the company’s stock, valued at approximately $1,527,908.20. The trade was a 14.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on C shares. Bank of America upped their target price on shares of Citigroup from $170.00 to $176.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Jefferies Financial Group initiated coverage on shares of Citigroup in a research report on Thursday, March 26th. They set a “buy” rating and a $135.00 price target on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $150.00 price objective on shares of Citigroup in a research note on Wednesday. Argus set a $150.00 price objective on shares of Citigroup in a report on Wednesday. Finally, Piper Sandler reissued an “overweight” rating and issued a $145.00 target price (up from $125.00) on shares of Citigroup in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $145.67.

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.