Illinois Municipal Retirement Fund Buys 16,808 Shares of Citigroup Inc. $C

Illinois Municipal Retirement Fund increased its stake in Citigroup Inc. (NYSE:C - Free Report) by 11.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 162,162 shares of the company's stock after purchasing an additional 16,808 shares during the period. Illinois Municipal Retirement Fund's holdings in Citigroup were worth $18,391,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Whipplewood Advisors LLC bought a new stake in shares of Citigroup during the first quarter worth $25,000. Mcguire Capital Advisors Inc. bought a new position in Citigroup in the fourth quarter valued at about $25,000. Richards Merrill & Peterson Inc. bought a new position in Citigroup in the fourth quarter valued at about $28,000. TD Capital Management LLC acquired a new stake in Citigroup in the fourth quarter worth about $28,000. Finally, Luken Investment Analytics LLC acquired a new stake in Citigroup in the fourth quarter worth about $32,000. Institutional investors and hedge funds own 71.72% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. 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 research report on Thursday, June 18th. UBS Group boosted their price target 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. Evercore set a $143.00 price objective on shares of Citigroup in a report on Monday, July 6th. Keefe, Bruyette & Woods raised their price objective on shares of Citigroup from $140.00 to $153.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Finally, Morgan Stanley lifted their target price on shares of Citigroup from $154.00 to $164.00 and gave the stock an "overweight" rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $145.67.

Insider Activity

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the stock in a transaction dated 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 directly owned 12,194 shares in the company, valued at $1,527,908.20. This represents a 14.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is owned by company insiders.

Citigroup Trading Up 1.3%

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

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.41. The company had revenue of $24.75 billion during the quarter, compared to analyst estimates of $23.74 billion. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The firm's revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.96 EPS. Equities research analysts anticipate that Citigroup Inc. will post 10.89 EPS for the current year.

Citigroup announced that its Board of Directors has approved a stock repurchase program on Thursday, May 7th that authorizes the company to buyback $30.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 13.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its stock is undervalued.

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

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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