State of Michigan Retirement System Sells 11,900 Shares of Citigroup Inc. $C

State of Michigan Retirement System lessened its stake in shares of Citigroup Inc. (NYSE:C) by 2.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 505,936 shares of the company’s stock after selling 11,900 shares during the quarter. State of Michigan Retirement System’s holdings in Citigroup were worth $57,378,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in C. TFR Capital LLC. boosted its stake in Citigroup by 4.2% in the first quarter. TFR Capital LLC. now owns 6,666 shares of the company’s stock valued at $756,000 after acquiring an additional 267 shares during the last quarter. Gratus Wealth Advisors LLC purchased a new stake in shares of Citigroup during the 1st quarter worth approximately $339,000. Tevis Investment Management increased its stake in shares of Citigroup by 4.6% during the 1st quarter. Tevis Investment Management now owns 14,632 shares of the company’s stock worth $1,659,000 after purchasing an additional 643 shares during the last quarter. AMF Tjanstepension AB raised its holdings in shares of Citigroup by 1.4% in the 1st quarter. AMF Tjanstepension AB now owns 1,099,751 shares of the company’s stock worth $124,723,000 after purchasing an additional 14,792 shares during the period. Finally, J. Safra Sarasin Holding AG raised its holdings in shares of Citigroup by 1,867.9% in the 1st quarter. J. Safra Sarasin Holding AG now owns 245,989 shares of the company’s stock worth $27,898,000 after purchasing an additional 233,489 shares during the period. Institutional investors own 71.72% of the company’s stock.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Wall Street expectations for big banks are running high, with several analysts saying Citigroup could beat estimates thanks to resilient consumer activity, healthy loan demand, and stronger capital markets conditions.
• Positive Sentiment: Recent coverage highlighted Citigroup as “the one to watch” among major U.S. banks because it is expected to show the biggest year-over-year improvement on an important performance measure, which could support sentiment if results confirm the trend.
• Positive Sentiment: New commentary on Citi’s tokenized USD clearing and Citi Token Services suggests the bank is making progress on digital transformation, reinforcing the case for longer-term operating efficiency and modernization.
• Positive Sentiment: Analysts continue to rate Citigroup favorably overall, with one note saying the stock carries a “Moderate Buy” consensus ahead of earnings.
• Neutral Sentiment: Market-wide risk aversion is also weighing on sentiment, as bank stocks are softer ahead of a packed earnings calendar and broader futures weakness is pressuring cyclical financial shares.
• Neutral Sentiment: Coverage of Citi’s tech overhaul and leadership efforts points to a multiyear turnaround story, but these initiatives are still viewed as work in progress rather than immediate catalysts.
• Negative Sentiment: Investors are still wary about restructuring costs, credit risk, and whether Citigroup can close the gap to its own performance targets, which could limit enthusiasm if earnings disappoint.

Wall Street Analyst Weigh In

Several equities analysts recently commented on C shares. Oppenheimer downgraded Citigroup from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. UBS Group increased their price target on Citigroup from $134.00 to $150.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. Barclays boosted their price objective on Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Jefferies Financial Group assumed coverage on shares of Citigroup in a report on Thursday, March 26th. They set a “buy” rating and a $135.00 price objective on the stock. Finally, Morgan Stanley increased their target price on shares of Citigroup from $154.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $145.00.

Insiders Place Their Bets

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was 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 in the company, valued at $1,527,908.20. This trade represents a 14.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edward Skyler sold 25,000 shares of Citigroup 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 transaction, the insider directly owned 182,022 shares of the company’s stock, valued at $23,919,511.02. The trade was a 12.08% 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.

Citigroup Trading Down 0.2%

NYSE:C opened at $140.56 on Tuesday. The company has a market cap of $239.74 billion, a P/E ratio of 17.42, a P/E/G ratio of 0.66 and a beta of 1.11. The stock’s fifty day moving average price is $133.96 and its two-hundred day moving average price is $123.03. Citigroup Inc. has a 1 year low of $86.22 and a 1 year high of $147.96. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99.

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

Citigroup declared that its board has approved a share repurchase plan on Thursday, May 7th that permits the company to repurchase $30.00 billion in shares. This repurchase authorization permits the company to purchase up to 13.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.