California Public Employees Retirement System Acquires 451,319 Shares of Citigroup Inc. $C

Key Points

• CalPERS boosted its Citigroup stake by 12.3% in the first quarter, buying 451,319 additional shares and bringing its total holding to 4.12 million shares worth about $467.7 million.
• Citigroup reported stronger-than-expected Q2 results, with EPS of $3.15 and revenue of $24.75 billion, both topping analyst estimates and showing 14.5% year-over-year revenue growth.
• Management signaled confidence in the stock by approving a $30 billion share buyback program, while analysts remain broadly positive with a consensus “Moderate Buy” rating and an average price target of $145.67.

California Public Employees Retirement System lifted its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 12.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,123,967 shares of the company's stock after acquiring an additional 451,319 shares during the quarter. California Public Employees Retirement System owned approximately 0.24% of Citigroup worth $467,699,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Mcguire Capital Advisors Inc. purchased a new position in shares of Citigroup during the fourth quarter valued at about $25,000. Whipplewood Advisors LLC bought a new position in Citigroup during the 1st quarter valued at approximately $25,000. Richards Merrill & Peterson Inc. bought a new position in shares of Citigroup during the fourth quarter valued at $28,000. TD Capital Management LLC bought a new stake in Citigroup during the 4th quarter valued at about $28,000. Finally, Luken Investment Analytics LLC bought a new stake in Citigroup during the 4th quarter valued at about $32,000. Hedge funds and other 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: 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?

Insider Activity

In other news, Director John Cunningham Dugan sold 2,117 shares of the firm's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $125.30, for a total value of $265,260.10. Following the transaction, the director directly owned 12,194 shares in the company, valued at $1,527,908.20. This trade represents a 14.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.11% of the stock is currently owned by company insiders.

Citigroup Stock Performance

Shares of C stock opened at $129.46 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.71. The company has a 50 day moving average price of $134.34 and a 200-day moving average price of $123.33. Citigroup Inc. has a 52 week low of $87.94 and a 52 week high of $147.96. The firm has a market capitalization of $220.81 billion, a PE ratio of 13.98, a P/E/G ratio of 0.60 and a beta of 1.11.

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

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on C shares. Evercore set a $143.00 target price on shares of Citigroup in a research note on Monday, July 6th. Truist Financial reduced their price target on shares of Citigroup from $158.00 to $154.00 and set a "buy" rating for the company in a research report on Wednesday. The Goldman Sachs Group boosted their price objective on shares of Citigroup from $137.00 to $151.00 and gave the stock a "buy" rating in a report on Wednesday, April 15th. Oppenheimer cut Citigroup from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 30th. Finally, JPMorgan Chase & Co. increased their target price on Citigroup from $135.50 to $149.00 and gave the company an "overweight" rating in a research note on Monday, July 6th. One 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $145.67.

Citigroup 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.

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