Oregon Public Employees Retirement Fund lessened its holdings in Citigroup Inc. (NYSE:C – Free Report) by 2.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,184 shares of the company’s stock after selling 4,700 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Citigroup were worth $22,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently made changes to their positions in C. Brighton Jones LLC boosted its holdings in shares of Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after buying an additional 12,499 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in Citigroup by 20.5% during the second quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company’s stock worth $835,000 after buying an additional 1,669 shares during the last quarter. United Bank bought a new stake in Citigroup in the second quarter worth about $972,000. Osterweis Capital Management Inc. raised its position in Citigroup by 3,016.7% in the second quarter. Osterweis Capital Management Inc. now owns 935 shares of the company’s stock worth $80,000 after acquiring an additional 905 shares during the period. Finally, HUB Investment Partners LLC boosted its stake in Citigroup by 26.9% in the second quarter. HUB Investment Partners LLC now owns 15,287 shares of the company’s stock valued at $1,301,000 after acquiring an additional 3,238 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.
Citigroup Price Performance
Citigroup stock opened at $137.40 on Thursday. The stock has a market cap 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 company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. The business has a 50-day simple moving average of $133.22 and a 200 day simple moving average of $122.55. Citigroup Inc. has a 52 week low of $85.59 and a 52 week high of $147.96.
Citigroup announced that its board has authorized a share buyback plan on Thursday, May 7th that permits the company to buyback $30.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 13.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
Key Stories Impacting Citigroup
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.
Insider Buying and Selling
In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the business’s stock in a transaction that occurred on 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward Skyler sold 25,000 shares of the 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 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 position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.11% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on C shares. Oppenheimer downgraded shares of Citigroup from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Morgan Stanley increased their price objective on Citigroup from $154.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Bank of America increased their price target on Citigroup from $170.00 to $176.00 and gave the stock a “buy” rating in a research note on Tuesday. Jefferies Financial Group assumed coverage on Citigroup in a research note on Thursday, March 26th. They issued a “buy” rating and a $135.00 price objective on the stock. Finally, Evercore set a $143.00 target price on shares of Citigroup in a research report on Monday. One 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $145.00.
Check Out Our Latest Research Report on Citigroup
Citigroup Company 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.
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