Wealthfront Advisers LLC Purchases 17,907 Shares of Citigroup Inc. $C

Key Points

• Wealthfront Advisers LLC increased its Citigroup stake by 8.6% in the first quarter, buying 17,907 additional shares and bringing its total holding to 225,974 shares valued at about $25.6 million.
• Citigroup beat Wall Street expectations in its latest quarterly results, reporting EPS of $3.15 versus $2.74 expected and revenue of $24.75 billion versus $23.74 billion expected, with revenue up 14.5% year over year.
• The bank also authorized a $30 billion share repurchase program, while analysts largely remained positive with a consensus rating of Moderate Buy and an average price target of $145.67.

Wealthfront Advisers LLC grew its position in Citigroup Inc. (NYSE:C - Free Report) by 8.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 225,974 shares of the company's stock after acquiring an additional 17,907 shares during the quarter. Wealthfront Advisers LLC's holdings in Citigroup were worth $25,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Mcguire Capital Advisors Inc. purchased a new position in shares of Citigroup in the 4th quarter worth approximately $25,000. Whipplewood Advisors LLC purchased a new stake in Citigroup during the 1st quarter valued at $25,000. Richards Merrill & Peterson Inc. purchased a new stake in Citigroup during the 4th quarter valued at $28,000. TD Capital Management LLC bought a new stake in Citigroup in the fourth quarter worth $28,000. Finally, Luken Investment Analytics LLC purchased a new position in Citigroup during the fourth quarter worth $32,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Performance

Shares of Citigroup stock opened at $135.03 on Thursday. The company has a market capitalization of $230.31 billion, a PE ratio of 14.58, a P/E/G ratio of 0.62 and a beta of 1.11. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 0.99. The company has a 50-day simple moving average of $134.21 and a two-hundred day simple moving average of $123.21. Citigroup Inc. has a one year low of $87.94 and a one year high of $147.96.

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

Citigroup declared that its board has authorized a stock repurchase plan on Thursday, May 7th that permits the company to buyback $30.00 billion in shares. This buyback authorization permits the company to repurchase up to 13.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

C has been the topic of several analyst reports. Piper Sandler reiterated an "overweight" rating and set a $145.00 price target (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. Keefe, Bruyette & Woods boosted their target price on Citigroup from $140.00 to $153.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. UBS Group upped their target price on Citigroup from $134.00 to $150.00 and gave the company a "neutral" rating in a research note on Tuesday, July 7th. Truist Financial reduced their price target on Citigroup from $158.00 to $154.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Barclays raised their price target on Citigroup from $146.00 to $154.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 15th. One 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. Based on data from MarketBeat, Citigroup has a consensus rating of "Moderate Buy" and a consensus price target of $145.67.

Key Headlines Impacting Citigroup

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 related 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 transaction, the director owned 12,194 shares in the company, valued at $1,527,908.20. This trade represents a 14.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.11% of the company's stock.

Citigroup Company 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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