Assetmark Inc. Purchases 12,439 Shares of Citigroup Inc. $C

Key Points

• Assetmark Inc. increased its Citigroup stake by 3.9% in the first quarter, buying 12,439 additional shares and bringing its total holdings to 333,805 shares worth about $37.9 million.
• Citigroup continues to attract institutional interest, with several large investors also adding or maintaining positions; institutions now own 71.72% of the stock.
• Recent developments around Citigroup have been generally positive, including a Q2 earnings beat, higher analyst price targets, a new Strong Buy ranking from Zacks, and a $30 billion share buyback authorization.

Assetmark Inc. grew its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 3.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 333,805 shares of the company's stock after buying an additional 12,439 shares during the period. Assetmark Inc.'s holdings in Citigroup were worth $37,857,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of C. Norges Bank purchased a new position in Citigroup during the fourth quarter valued at approximately $2,800,944,000. Vanguard Group Inc. lifted its stake in Citigroup by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company's stock worth $19,048,467,000 after purchasing an additional 4,938,923 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new position in Citigroup in the 4th quarter valued at $298,082,000. SG Americas Securities LLC boosted its holdings in Citigroup by 291.4% in the 4th quarter. SG Americas Securities LLC now owns 1,319,549 shares of the company's stock valued at $153,978,000 after purchasing an additional 2,008,946 shares during the period. Finally, Deutsche Bank AG grew its position in shares of Citigroup by 28.4% during the 4th quarter. Deutsche Bank AG now owns 7,158,142 shares of the company's stock valued at $835,284,000 after purchasing an additional 1,582,150 shares in the last quarter. 71.72% of the stock is owned by institutional investors.

Key Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup was added to Zacks’ Rank #1 (Strong Buy) list, signaling improving earnings momentum and potentially attracting more near-term buying. New Strong Buy Stocks for July 17th
• Positive Sentiment: Erste Group Bank raised its FY2026 and FY2027 earnings estimates for Citigroup, reinforcing the view that profits may continue trending higher. Citigroup stock page / analyst estimate update
• Positive Sentiment: Market commentary highlighted Citigroup as one of the standouts in early Q2 bank earnings, alongside peers that beat expectations, which supports the broader bullish case for the shares. Q2 Earnings: 2 Winners and 1 Loser So Far
• Positive Sentiment: Citigroup’s Q2 results beat estimates, with revenue and EPS both coming in above Wall Street forecasts, keeping investor sentiment constructive after the earnings release. Citigroup earnings data
• Neutral Sentiment: Citigroup announced a full redemption of its Series T preferred stock, which is a capital-structure change but not a major operating catalyst by itself. Citigroup Announces Full Redemption of Series T Preferred Stock
• Neutral Sentiment: Several brokerage and market items reiterated or discussed Citigroup’s valuation and relative attractiveness versus peers, adding context but not introducing a major new surprise. Citigroup vs. Wells Fargo: Which Bank Stock Looks Attractive Post Q2 Results?

Analyst Ratings Changes

A number of equities research analysts recently issued reports on C shares. Keefe, Bruyette & Woods increased their price objective on Citigroup from $140.00 to $153.00 and gave the stock an "outperform" rating in a research report on Friday, May 8th. Wells Fargo & Company boosted their target price on Citigroup from $162.00 to $165.00 and gave the stock an "overweight" rating in a research report on Thursday, June 18th. Oppenheimer cut Citigroup from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 30th. UBS Group lifted their target price on shares of Citigroup from $134.00 to $150.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 7th. Finally, Bank of America upped their price target on shares of Citigroup from $170.00 to $176.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. One equities research 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 company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $145.67.

Insider Buying and Selling

In related news, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $125.30, for a total transaction of $265,260.10. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.11% of the stock is owned by corporate insiders.

Citigroup Trading Down 1.7%

Citigroup stock opened at $129.46 on Friday. Citigroup Inc. has a 12-month low of $87.94 and a 12-month high of $147.96. The firm has a market capitalization of $220.81 billion, a price-to-earnings ratio of 13.98, a P/E/G ratio of 0.60 and a beta of 1.11. The firm has a 50 day moving average of $134.34 and a 200 day moving average of $123.33. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings data on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, topping analysts' consensus estimates of $2.74 by $0.41. The firm had revenue of $24.75 billion during the quarter, compared to analyst estimates of $23.74 billion. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The business's quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.96 earnings per share. As a group, research analysts predict that Citigroup Inc. will post 11.15 earnings per share for the current year.

Citigroup announced that its board has approved a share buyback plan on Thursday, May 7th that permits the company to buyback $30.00 billion in shares. This buyback authorization permits the company to reacquire up to 13.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

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.

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