Citigroup Inc. $C Shares Sold by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC reduced its Citigroup stake by 8.9% in the first quarter, selling 12,194 shares and leaving it with 124,956 shares worth about $14.2 million.
• Citigroup also saw notable insider selling, including director John Cunningham Dugan and insider Edward Skyler, both of whom cut their holdings during the period.
• Despite the selling, analysts remain broadly positive: Citigroup has a Moderate Buy consensus, and the company recently posted strong quarterly results and announced a $30 billion share buyback.

Kestra Advisory Services LLC trimmed its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 8.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,956 shares of the company's stock after selling 12,194 shares during the period. Kestra Advisory Services LLC's holdings in Citigroup were worth $14,171,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of C. Cora Capital Advisors LLC grew its holdings in Citigroup by 3.1% during the 1st quarter. Cora Capital Advisors LLC now owns 2,609 shares of the company's stock valued at $296,000 after buying an additional 78 shares during the last quarter. CFS Investment Advisory Services LLC lifted its position in shares of Citigroup by 0.4% in the first quarter. CFS Investment Advisory Services LLC now owns 20,596 shares of the company's stock valued at $2,336,000 after acquiring an additional 79 shares in the last quarter. Verus Capital Partners LLC boosted its stake in shares of Citigroup by 3.1% during the fourth quarter. Verus Capital Partners LLC now owns 2,748 shares of the company's stock valued at $321,000 after acquiring an additional 82 shares during the last quarter. Elmwood Wealth Management Inc. boosted its stake in shares of Citigroup by 1.3% during the fourth quarter. Elmwood Wealth Management Inc. now owns 6,845 shares of the company's stock valued at $799,000 after acquiring an additional 85 shares during the last quarter. Finally, Park Place Capital Corp increased its position in Citigroup by 16.7% during the 4th quarter. Park Place Capital Corp now owns 595 shares of the company's stock worth $69,000 after purchasing an additional 85 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Citigroup

In other news, Director John Cunningham Dugan sold 2,117 shares of the company's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $125.30, for a total value of $265,260.10. Following the completion of the transaction, the director directly owned 12,194 shares in the company, valued at approximately $1,527,908.20. This represents a 14.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Edward Skyler sold 25,000 shares of the firm's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the sale, the insider directly owned 182,022 shares of the company's stock, valued at approximately $23,919,511.02. The trade was a 12.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.11% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on C shares. Wells Fargo & Company upped their target price on shares of Citigroup from $162.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, June 18th. Keefe, Bruyette & Woods boosted their price objective on shares of Citigroup from $140.00 to $153.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. Piper Sandler reissued an "overweight" rating and set a $145.00 price objective (up from $125.00) on shares of Citigroup in a research note on Wednesday, April 15th. Bank of America lifted their target price on shares of Citigroup from $170.00 to $176.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Finally, UBS Group boosted their price target on Citigroup from $134.00 to $150.00 and gave the company a "neutral" rating in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Citigroup currently has an average rating of "Moderate Buy" and a consensus target price of $145.00.

Citigroup Stock Down 0.1%

Shares of NYSE C opened at $140.67 on Monday. Citigroup Inc. has a 12-month low of $85.61 and a 12-month high of $147.96. The company has a market cap of $239.92 billion, a P/E ratio of 17.43, a P/E/G ratio of 0.66 and a beta of 1.11. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. The stock has a fifty day moving average price of $133.71 and a 200 day moving average price of $122.88.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, topping analysts' consensus estimates of $2.63 by $0.43. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The company had revenue of $24.63 billion for the quarter, compared to analysts' expectations of $22.96 billion. During the same quarter in the previous year, the firm posted $1.96 earnings per share. The firm's quarterly revenue was up 14.1% on a year-over-year basis. Research analysts anticipate that Citigroup Inc. will post 10.89 EPS for the current fiscal year.

Citigroup announced that its Board of Directors has initiated 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 purchase up to 13.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its shares are undervalued.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi is expected to collect about $70 million in fees from the SK Hynix listing, underscoring strength in its capital markets and advisory franchise. Article Title
• Positive Sentiment: Multiple pieces this week describe Citigroup (C) as one of the stronger large-bank names ahead of earnings, supported by resilient trading activity, investment banking momentum, and loan demand. Article Title
• Positive Sentiment: Analyst commentary and TV mentions have also kept Citi in the spotlight as a favored bank stock, suggesting continued institutional confidence in the name. Article Title
• Positive Sentiment: Earlier coverage said Citi’s Q1 results were the strongest among diversified banks, reinforcing the view that the company is executing well relative to peers. Article Title
• Neutral Sentiment: Citi also announced that SCB is now live with its 24/7 USD Clearing and Citi Token Services, a constructive step in digital payments infrastructure, but not a near-term earnings driver. Article Title

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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