Independent Financial Group LLC Acquires New Shares in Citigroup Inc. $C

Key Points

• Independent Financial Group LLC opened a new position in Citigroup during the first quarter, buying 13,017 shares valued at about $1.48 million.
• Citigroup’s latest quarterly results beat expectations, with EPS of $3.15 versus the $2.74 estimate and revenue of $24.75 billion, up 14.5% year over year.
• Investor sentiment remains constructive: Citigroup was added to Zacks’ Rank #1 (Strong Buy) list, while analysts overall still rate the stock a Moderate Buy with a consensus price target of $145.67.

Independent Financial Group LLC acquired a new position in shares of Citigroup Inc. (NYSE:C - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,017 shares of the company's stock, valued at approximately $1,476,000.

Several other large investors have also added to or reduced their stakes in C. Norges Bank purchased a new stake in shares of Citigroup in the fourth quarter worth about $2,800,944,000. Vanguard Group Inc. grew its stake in Citigroup by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 163,239,926 shares of the company's stock valued at $19,048,467,000 after acquiring an additional 4,938,923 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in Citigroup during the 4th quarter worth approximately $298,082,000. SG Americas Securities LLC lifted its stake in Citigroup by 291.4% in the 4th quarter. SG Americas Securities LLC now owns 1,319,549 shares of the company's stock worth $153,978,000 after purchasing an additional 2,008,946 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in Citigroup by 28.4% in the 4th quarter. Deutsche Bank AG now owns 7,158,142 shares of the company's stock worth $835,284,000 after purchasing an additional 1,582,150 shares in the last quarter. Institutional investors own 71.72% of the company's stock.

Insiders Place Their Bets

In related 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 value of $265,260.10. Following the completion of the sale, the director owned 12,194 shares in the company, valued at $1,527,908.20. The trade was a 14.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

C has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Citigroup from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Oppenheimer downgraded Citigroup from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 30th. Wells Fargo & Company boosted their target price on Citigroup from $162.00 to $165.00 and gave the stock an "overweight" rating in a research report on Thursday, June 18th. Barclays boosted their target price on Citigroup from $146.00 to $154.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. Finally, Evercore set a $143.00 price target on Citigroup in a report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $145.67.

Key Stories Impacting 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?

Citigroup Stock Up 0.1%

C opened at $129.46 on Monday. The business's fifty day simple moving average is $134.34 and its 200 day simple moving average is $123.36. Citigroup Inc. has a 52 week low of $87.94 and a 52 week high of $147.96. 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 stock has a market cap of $220.81 billion, a PE ratio of 13.98, a P/E/G ratio of 0.59 and a beta of 1.11.

Citigroup (NYSE:C - Get Free Report) last issued 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. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The firm had revenue of $24.75 billion during the quarter, compared to analyst estimates of $23.74 billion. During the same quarter in the previous year, the company posted $1.96 earnings per share. The company's revenue was up 14.5% compared to the same quarter last year. As a group, research analysts expect that Citigroup Inc. will post 11.15 earnings per share for the current fiscal year.

Citigroup announced that its Board of Directors has initiated a share buyback plan on Thursday, May 7th that allows the company to repurchase $30.00 billion in shares. This repurchase authorization allows the company to reacquire up to 13.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are 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.

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