Whittier Trust Co. Has $1.56 Million Position in Citigroup Inc. $C

Whittier Trust Co. cut its position in Citigroup Inc. (NYSE:C) by 29.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,336 shares of the company’s stock after selling 5,695 shares during the quarter. Whittier Trust Co.’s holdings in Citigroup were worth $1,565,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Truist Financial Corp lifted its position in shares of Citigroup by 4.7% in the 4th 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 period. Gunderson Capital Management Inc. acquired a new stake in shares of Citigroup during the fourth quarter worth $7,165,000. Brighton Jones LLC raised its stake in 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 buying an additional 12,499 shares during the last quarter. UniSuper Management Pty Ltd raised its stake in Citigroup by 38.8% during the fourth 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, Nordea Investment Management AB lifted its holdings in Citigroup by 11.8% in the fourth quarter. Nordea Investment Management AB now owns 7,986,407 shares of the company’s stock valued at $933,891,000 after buying an additional 844,056 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Citigroup Price Performance

Shares of NYSE C opened at $140.75 on Wednesday. The firm has a market capitalization of $240.05 billion, a P/E ratio of 17.44, a P/E/G ratio of 0.62 and a beta of 1.11. The firm’s 50-day moving average price is $133.05 and its 200-day moving average price is $122.37. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. Citigroup Inc. has a 1-year low of $85.48 and a 1-year high of $147.96.

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. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The company had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same period last year, the business posted $1.96 EPS. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. Equities research analysts anticipate that Citigroup Inc. will post 10.83 earnings per share for the current fiscal year.

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

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Bank of America and UBS both raised their price targets on Citigroup, and JPMorgan also lifted its target while keeping an overweight view, reinforcing bullish expectations ahead of earnings.
• Positive Sentiment: Wall Street is expecting strong second-quarter results from big banks, with analysts citing better trading and investment-banking revenue and potential earnings upside for Citigroup.
• Positive Sentiment: Citigroup expanded its precious-metals franchise by becoming a clearing member of London Precious Metals Clearing Limited, which broadens its gold, silver, platinum, and palladium settlement services.
• Positive Sentiment: Citi was also named depositary bank for Vicore Pharma’s ADR program, adding another piece of issuer-services business that supports fee generation.
• Neutral Sentiment: The bank is set to report quarterly earnings next week, and investors are positioning around whether Citigroup can deliver an earnings beat and confirm the recent positive analyst revisions. Article Title
• Negative Sentiment: A podcast-style consumer complaint about an elderly widow’s credit-card debt mentioned Citi cards and could add a small reputational overhang, though it is unlikely to move the stock much on its own. Article Title

Analyst Ratings Changes

A number of analysts have weighed in on C shares. Barclays increased their price target on Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Truist Financial upped their target price on Citigroup from $147.00 to $158.00 and gave the company a “buy” rating in a research report on Friday, June 26th. Oppenheimer cut Citigroup from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Evercore set a $143.00 target price on Citigroup in a report on Monday. Finally, Piper Sandler reissued an “overweight” rating and issued a $145.00 price target (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 given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $145.00.

Insider Activity at Citigroup

In related news, 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 value of $3,285,250.00. Following the transaction, the insider directly owned 182,022 shares in the company, valued at $23,919,511.02. This trade represents a 12.08% decrease in their position. 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 Citigroup stock in a transaction on Friday, May 8th. The shares were sold at an average price of $125.30, for a total transaction 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. The trade was a 14.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.11% of the company’s stock.

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.