Citigroup Inc. $C Stock Holdings Lifted by Spectrum Financial Alliance Ltd LLC

Key Points

• Spectrum Financial Alliance Ltd LLC increased its Citigroup stake by 2.7% in the first quarter, making C its largest holding at 14.4% of the portfolio, worth about $74.7 million.
• Citigroup reported better-than-expected Q1 earnings, with EPS of $3.06 versus $2.63 expected and revenue of $24.63 billion, up 14.1% year over year.
• The bank’s board approved a $30 billion share repurchase plan, while analysts have remained broadly positive with an average rating of Moderate Buy and a consensus target price of $145.

Spectrum Financial Alliance Ltd LLC increased its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 2.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 658,445 shares of the company's stock after buying an additional 17,422 shares during the quarter. Citigroup comprises 14.4% of Spectrum Financial Alliance Ltd LLC's holdings, making the stock its largest position. Spectrum Financial Alliance Ltd LLC's holdings in Citigroup were worth $74,674,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in C. Brighton Jones LLC boosted its position in shares of Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after acquiring an additional 12,499 shares during the last quarter. Sivia Capital Partners LLC raised its stake in Citigroup by 20.5% during the second quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company's stock worth $835,000 after purchasing an additional 1,669 shares during the period. United Bank acquired a new position in Citigroup in the 2nd quarter valued at about $972,000. Osterweis Capital Management Inc. grew its stake in shares of Citigroup by 3,016.7% in the 2nd quarter. Osterweis Capital Management Inc. now owns 935 shares of the company's stock valued at $80,000 after buying an additional 905 shares during the period. Finally, HUB Investment Partners LLC increased its holdings in shares of Citigroup by 26.9% during the 2nd quarter. HUB Investment Partners LLC now owns 15,287 shares of the company's stock worth $1,301,000 after buying an additional 3,238 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Performance

Shares of NYSE:C traded up $1.10 during trading on Friday, reaching $140.67. The company had a trading volume of 10,510,425 shares, compared to its average volume of 12,496,730. The firm has a market capitalization of $239.92 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 0.65 and a beta of 1.11. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99. Citigroup Inc. has a fifty-two week low of $85.61 and a fifty-two week high of $147.96. The stock's fifty day moving average price is $133.71 and its 200 day moving average price is $122.85.

Citigroup (NYSE:C - Get Free Report) last issued its earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.43. The business had revenue of $24.63 billion for the quarter, compared to the consensus estimate of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The business's quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.96 earnings per share. As a group, equities research analysts predict that Citigroup Inc. will post 10.89 EPS for the current year.

Citigroup announced that its board has initiated a share repurchase plan on Thursday, May 7th that authorizes the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 13.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.

Key Stories Impacting 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

Wall Street Analyst Weigh In

C has been the topic of several recent analyst reports. Truist Financial upped their price target on Citigroup from $147.00 to $158.00 and gave the company a "buy" rating in a research note on Friday, June 26th. Bank of America raised their price target on shares of Citigroup from $170.00 to $176.00 and gave the company a "buy" rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Citigroup from $135.50 to $149.00 and gave the stock an "overweight" rating in a research report on Monday, July 6th. Royal Bank Of Canada reissued an "outperform" rating and issued a $139.00 target price on shares of Citigroup in a report on Wednesday, April 15th. Finally, UBS Group increased their price target on shares of Citigroup from $134.00 to $150.00 and gave the company a "neutral" rating in a research note on Tuesday. One 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $145.00.

Insider Buying and Selling at Citigroup

In other Citigroup 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 completion of the sale, the director owned 12,194 shares of the company's stock, valued at approximately $1,527,908.20. This trade represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward Skyler sold 25,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the insider owned 182,022 shares of the company's stock, valued at $23,919,511.02. This trade represents a 12.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.11% of the company's stock.

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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