Triglav Investments D.O.O. Reduces Holdings in Citigroup Inc. $C

Triglav Investments D.O.O. reduced its stake in shares of Citigroup Inc. (NYSE:C) by 56.1% in the 1st quarter, HoldingsChannel reports. The firm owned 35,683 shares of the company’s stock after selling 45,629 shares during the quarter. Triglav Investments D.O.O.’s holdings in Citigroup were worth $4,046,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mcguire Capital Advisors Inc. purchased a new position in Citigroup during the fourth quarter worth $25,000. Whipplewood Advisors LLC purchased a new stake in shares of Citigroup in the first quarter valued at $25,000. Richards Merrill & Peterson Inc. acquired a new stake in shares of Citigroup during the fourth quarter valued at $28,000. TD Capital Management LLC purchased a new stake in Citigroup during the 4th quarter worth about $28,000. Finally, Luken Investment Analytics LLC purchased a new stake in Citigroup during the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi is expected to collect about $70 million in fees from the SK Hynix listing, underscoring strength in its capital markets and advisory franchise. Article Title
• Positive Sentiment: Multiple pieces this week describe Citigroup (C) as one of the stronger large-bank names ahead of earnings, supported by resilient trading activity, investment banking momentum, and loan demand. Article Title
• Positive Sentiment: Analyst commentary and TV mentions have also kept Citi in the spotlight as a favored bank stock, suggesting continued institutional confidence in the name. Article Title
• Positive Sentiment: Earlier coverage said Citi’s Q1 results were the strongest among diversified banks, reinforcing the view that the company is executing well relative to peers. Article Title
• Neutral Sentiment: Citi also announced that SCB is now live with its 24/7 USD Clearing and Citi Token Services, a constructive step in digital payments infrastructure, but not a near-term earnings driver. Article Title

Citigroup Trading Down 0.1%

C stock opened at $140.67 on Monday. 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 company has a market cap of $239.92 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 0.66 and a beta of 1.11. The business has a fifty day simple moving average of $133.71 and a 200-day simple moving average of $122.88. Citigroup Inc. has a 52 week low of $85.61 and a 52 week high of $147.96.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.43. The firm had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.96 earnings per share. On average, equities research analysts expect that Citigroup Inc. will post 10.89 EPS for the current year.

Citigroup declared that its board has authorized a stock buyback plan on Thursday, May 7th that allows the company to buyback $30.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 13.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other news, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction dated 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 sale, the insider 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 link. Also, Director John Cunningham Dugan sold 2,117 shares of the 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 directly owned 12,194 shares of the company’s stock, valued at approximately $1,527,908.20. This trade represents a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on C shares. Barclays boosted their price objective on shares of Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Jefferies Financial Group started coverage on Citigroup in a report on Thursday, March 26th. They issued a “buy” rating and a $135.00 price target for the company. Evercore set a $143.00 price target on Citigroup in a research note on Monday, July 6th. Oppenheimer cut Citigroup from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 30th. Finally, The Goldman Sachs Group upped their target price on Citigroup from $137.00 to $151.00 and gave the company a “buy” rating 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 given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.00.

About Citigroup

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.