Citigroup Inc. $C Shares Purchased by Sanctuary Advisors LLC

Key Points

• Sanctuary Advisors LLC increased its Citigroup stake by 17.4% in the first quarter, buying 37,616 additional shares and bringing its position to 253,944 shares valued at about $28.8 million.
• Citigroup reported a strong Q2 earnings beat, posting EPS of $3.15 versus $2.74 expected and revenue of $24.75 billion versus $23.74 billion expected, driven by strength in trading and investment banking.
• Despite the beat, investors remain focused on higher expenses and restructuring costs, as Citi continues investing in its turnaround and analysts largely maintain a constructive but mixed view on the stock.

Sanctuary Advisors LLC increased its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 17.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 253,944 shares of the company's stock after buying an additional 37,616 shares during the quarter. Sanctuary Advisors LLC's holdings in Citigroup were worth $28,800,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlueChip Wealth Advisors LLC increased its holdings in shares of Citigroup by 10.0% in the 1st quarter. BlueChip Wealth Advisors LLC now owns 10,122 shares of the company's stock valued at $1,148,000 after acquiring an additional 916 shares during the period. Sigma Planning Corp raised its position in Citigroup by 3.2% in the 1st quarter. Sigma Planning Corp now owns 14,516 shares of the company's stock valued at $1,646,000 after purchasing an additional 446 shares during the last quarter. Adell Harriman & Carpenter Inc. boosted its stake in Citigroup by 6.6% during the 1st quarter. Adell Harriman & Carpenter Inc. now owns 122,460 shares of the company's stock worth $13,888,000 after purchasing an additional 7,535 shares during the period. Checchi Capital Advisers LLC grew its position in Citigroup by 10.3% during the 1st quarter. Checchi Capital Advisers LLC now owns 15,156 shares of the company's stock worth $1,719,000 after purchasing an additional 1,410 shares during the last quarter. Finally, CFO Capital Management LLC grew its position in Citigroup by 1.5% during the 1st quarter. CFO Capital Management LLC now owns 5,495 shares of the company's stock worth $590,000 after purchasing an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup posted a major Q2 earnings beat, with EPS of $3.15 versus $2.74 expected and revenue of about $24.8 billion versus $23.7 billion expected, helped by strong fixed income trading, investment banking, and broad-based strength across its businesses. Article Title
• Positive Sentiment: Management said Citi’s strong quarter reflects a stronger franchise and that it is accelerating investments to support more durable returns, reinforcing the turnaround narrative for the bank. Article Title
• Positive Sentiment: Analysts were upbeat after the report, with RBC reaffirming an outperform rating and a $150 price target, while Truist also kept a buy rating despite trimming its target to $154. Article Title
• Neutral Sentiment: Some valuation commentary said Citigroup may still be near fair value after a strong multi-year rally, suggesting upside is increasingly tied to continued execution rather than just multiple expansion. Article Title
• Negative Sentiment: Despite the earnings beat, shares slipped at times because investors focused on Citi’s higher expense outlook, including accelerated hiring and other investment spending that could pressure second-half profitability. Article Title
• Negative Sentiment: Reports also highlighted possible layoffs and faster job cuts, which may signal ongoing restructuring costs even as the bank tries to complete its transformation. Article Title

Insider Transactions at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the business's 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 transaction, the director owned 12,194 shares in the company, valued at approximately $1,527,908.20. The trade was a 14.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.11% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Citigroup from $154.00 to $164.00 and gave the company an "overweight" rating in a research note on Monday, June 29th. UBS Group raised their price target on Citigroup from $134.00 to $150.00 and gave the stock a "neutral" rating in a report on Tuesday, July 7th. Jefferies Financial Group assumed coverage on Citigroup in a research report on Thursday, March 26th. They issued a "buy" rating and a $135.00 price target on the stock. Evercore set a $143.00 price objective on Citigroup in a research note on Monday, July 6th. Finally, Barclays increased their price objective on Citigroup from $146.00 to $154.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Citigroup has a consensus rating of "Moderate Buy" and a consensus price target of $145.67.

Citigroup Stock Up 1.3%

Shares of NYSE:C opened at $135.03 on Thursday. The company has a market cap of $230.31 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 0.62 and a beta of 1.11. The firm's 50-day simple moving average is $134.21 and its 200-day simple moving average is $123.21. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.71. Citigroup Inc. has a fifty-two week low of $87.94 and a fifty-two week high of $147.96.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly 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. The firm had revenue of $24.75 billion during the quarter, compared to analysts' expectations of $23.74 billion. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The firm's revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.96 earnings per share. As a group, equities research analysts predict that Citigroup Inc. will post 10.89 earnings per share for the current year.

Citigroup declared that its Board of Directors has authorized a share buyback program on Thursday, May 7th that allows the company to buyback $30.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 13.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors 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.

Want to see what other hedge funds are holding C? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Citigroup Inc. (NYSE:C - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.