Allspring Global Investments Holdings LLC Buys 279,779 Shares of Citigroup Inc. $C

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Citigroup by 13.9%, acquiring an additional 279,779 shares, bringing its total ownership to approximately $197.99 million.
• Several institutional investors have raised their positions in Citigroup, with notable increases from OVERSEA CHINESE BANKING Corp Ltd (up 109%) and Brighton Jones LLC (up 166.9%) in recent quarters.
• Citigroup's stock has received a consensus rating of "Moderate Buy" from analysts, with price targets ranging from $95 to $112, following a strong quarterly earnings report that beat expectations.

Allspring Global Investments Holdings LLC raised its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 13.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,294,955 shares of the company's stock after purchasing an additional 279,779 shares during the period. Allspring Global Investments Holdings LLC owned 0.12% of Citigroup worth $197,986,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Private Advisory Group LLC raised its position in Citigroup by 20.8% during the 1st quarter. Private Advisory Group LLC now owns 69,581 shares of the company's stock worth $4,940,000 after purchasing an additional 11,978 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its position in Citigroup by 109.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,246,061 shares of the company's stock worth $88,458,000 after purchasing an additional 649,807 shares during the last quarter. Brighton Jones LLC raised its position in Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after purchasing an additional 12,499 shares during the last quarter. Onyx Bridge Wealth Group LLC bought a new position in Citigroup during the 1st quarter worth $214,000. Finally, Hayek Kallen Investment Management raised its position in shares of Citigroup by 125.0% in the 1st quarter. Hayek Kallen Investment Management now owns 15,534 shares of the company's stock worth $1,103,000 after acquiring an additional 8,630 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Insider Buying and Selling at Citigroup

In other news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the transaction, the director owned 2,140 shares in the company, valued at $193,456. The trade was a 58.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on C shares. The Goldman Sachs Group lifted their price objective on Citigroup from $85.00 to $96.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. TD Cowen lifted their price objective on Citigroup from $85.00 to $95.00 and gave the stock a "hold" rating in a research report on Wednesday, July 16th. Truist Financial lifted their price objective on Citigroup from $105.00 to $112.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Oppenheimer lowered their price objective on Citigroup from $124.00 to $123.00 and set an "outperform" rating for the company in a research report on Tuesday, September 23rd. Finally, Barclays lifted their price objective on Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Citigroup has a consensus rating of "Moderate Buy" and an average target price of $99.68.

Citigroup Price Performance

C stock opened at $93.87 on Monday. The company has a market capitalization of $172.81 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 0.83 and a beta of 1.37. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. Citigroup Inc. has a 52-week low of $55.51 and a 52-week high of $105.59. The business has a 50-day simple moving average of $97.00 and a two-hundred day simple moving average of $83.87.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. The business had revenue of $21.67 billion during the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The company's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.52 EPS. Citigroup has set its FY 2025 guidance at EPS. Research analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

About Citigroup

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.

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