Ibex Wealth Advisors Invests $842,000 in Citigroup Inc. $C

Ibex Wealth Advisors purchased a new stake in shares of Citigroup Inc. (NYSE:C) in the 1st quarter, Holdings Channel reports. The fund purchased 7,424 shares of the company’s stock, valued at approximately $842,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Money Concepts Capital Corp grew its holdings in shares of Citigroup by 7.5% during the first quarter. Money Concepts Capital Corp now owns 2,721 shares of the company’s stock worth $309,000 after purchasing an additional 191 shares during the last quarter. Granite Investment Partners LLC grew its holdings in Citigroup by 3.0% during the 1st quarter. Granite Investment Partners LLC now owns 39,499 shares of the company’s stock worth $4,480,000 after acquiring an additional 1,161 shares during the last quarter. Griffith & Werner Inc. increased its position in Citigroup by 6.3% in the 1st quarter. Griffith & Werner Inc. now owns 70,499 shares of the company’s stock valued at $7,995,000 after acquiring an additional 4,179 shares in the last quarter. Personal CFO Solutions LLC raised its stake in shares of Citigroup by 12.9% in the first quarter. Personal CFO Solutions LLC now owns 13,969 shares of the company’s stock worth $1,584,000 after acquiring an additional 1,600 shares during the last quarter. Finally, CFS Investment Advisory Services LLC lifted its position in shares of Citigroup by 0.4% during the first quarter. CFS Investment Advisory Services LLC now owns 20,596 shares of the company’s stock worth $2,336,000 after purchasing an additional 79 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Piper Sandler reissued an “overweight” rating and set a $145.00 price target (up from $125.00) on shares of Citigroup in a research note on Wednesday, April 15th. Truist Financial boosted their target price on Citigroup from $147.00 to $158.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. Morgan Stanley raised their price target on Citigroup from $154.00 to $164.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Citigroup in a report on Monday, April 20th. Finally, UBS Group upped their target price on shares of Citigroup from $134.00 to $150.00 and gave the company a “neutral” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $145.00.

Citigroup Stock Up 1.6%

Citigroup stock opened at $139.56 on Friday. The company’s 50 day simple moving average is $133.44 and its 200 day simple moving average is $122.72. 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 capitalization of $238.03 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 0.64 and a beta of 1.11. Citigroup Inc. has a fifty-two week low of $85.61 and a fifty-two week high of $147.96.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share 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 for the quarter, compared to analysts’ expectations of $22.96 billion. During the same period last year, the firm posted $1.96 earnings per share. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Citigroup Inc. will post 10.89 EPS for the current year.

Citigroup announced that its board has approved a stock repurchase plan on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 13.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In related news, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 182,022 shares in the company, valued at approximately $23,919,511.02. The trade was a 12.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Cunningham Dugan sold 2,117 shares of the firm’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 transaction of $265,260.10. Following the sale, the director owned 12,194 shares in the company, valued at $1,527,908.20. This trade represents a 14.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.11% of the company’s stock.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi and The Siam Commercial Bank launched 24/7 USD Clearing with Citi Token Services, expanding its cross-border payments capabilities and showcasing digital innovation. Article Title
• Positive Sentiment: Analysts and market commentators remain constructive on Citigroup, with coverage highlighting it as a top pick and noting higher price targets ahead of earnings. Article Title
• Positive Sentiment: Recent bank-sector commentary pointed to Citigroup as a standout performer in the diversified banks group, reinforcing expectations for solid earnings momentum. Article Title
• Neutral Sentiment: Analysts published previews of Citigroup’s Q2 results, focusing on estimates for revenue, EPS, and other operating metrics ahead of the report. Article Title

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.