Griffith & Werner Inc. Purchases 4,179 Shares of Citigroup Inc. $C

Griffith & Werner Inc. increased its position in Citigroup Inc. (NYSE:C) by 6.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 70,499 shares of the company’s stock after purchasing an additional 4,179 shares during the period. Citigroup accounts for about 4.0% of Griffith & Werner Inc.’s holdings, making the stock its 3rd biggest holding. Griffith & Werner Inc.’s holdings in Citigroup were worth $7,995,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in C. Brighton Jones LLC increased its position 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 period. Sivia Capital Partners LLC boosted its holdings in shares of Citigroup by 20.5% in the second quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company’s stock valued at $835,000 after acquiring an additional 1,669 shares during the period. United Bank purchased a new position in shares of Citigroup during the second quarter worth approximately $972,000. Osterweis Capital Management Inc. grew its position in shares of Citigroup by 3,016.7% during 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 last quarter. Finally, HUB Investment Partners LLC increased its holdings in shares of Citigroup by 26.9% in the 2nd 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 period. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Stock Performance

NYSE:C opened at $137.40 on Thursday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap of $234.35 billion, a price-to-earnings ratio of 17.03, a price-to-earnings-growth ratio of 0.60 and a beta of 1.11. The firm’s fifty day moving average price is $133.22 and its 200 day moving average price is $122.55. Citigroup Inc. has a 1-year low of $85.59 and a 1-year high of $147.96.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.43. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The company had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter in the prior year, the firm earned $1.96 EPS. Citigroup’s quarterly revenue was up 14.1% on a year-over-year basis. On average, sell-side analysts expect that Citigroup Inc. will post 10.85 EPS for the current year.

Citigroup announced that its Board of Directors has initiated a share repurchase program on Thursday, May 7th that allows the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 13.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

C has been the subject of several research reports. Morgan Stanley upped their price target on shares of Citigroup from $154.00 to $164.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Oppenheimer lowered shares of Citigroup from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Truist Financial upped their target price on shares of Citigroup from $147.00 to $158.00 and gave the company a “buy” rating in a report on Friday, June 26th. Jefferies Financial Group assumed coverage on shares of Citigroup in a research note on Thursday, March 26th. They set a “buy” rating and a $135.00 target price for the company. Finally, Wall Street Zen raised Citigroup from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.

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 Transactions at Citigroup

In related news, 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 value of $3,285,250.00. Following the completion of the sale, the insider owned 182,022 shares in the company, valued at $23,919,511.02. This trade represents a 12.08% decrease in their ownership of the stock. 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 the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following the transaction, the director owned 12,194 shares in the company, valued at $1,527,908.20. The trade was a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.11% of the stock is owned by company insiders.

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.