Legacy Capital Group California Inc. Sells 5,267 Shares of Citigroup Inc. $C

Legacy Capital Group California Inc. reduced its position in Citigroup Inc. (NYSE:C) by 20.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,092 shares of the company’s stock after selling 5,267 shares during the period. Citigroup makes up about 0.9% of Legacy Capital Group California Inc.’s investment portfolio, making the stock its 14th biggest position. Legacy Capital Group California Inc.’s holdings in Citigroup were worth $2,279,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC grew its position in Citigroup by 166.9% during the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after buying an additional 12,499 shares during the period. Sivia Capital Partners LLC raised its position in Citigroup by 20.5% in the second quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company’s stock worth $835,000 after acquiring an additional 1,669 shares during the period. United Bank bought a new position in Citigroup in the second quarter worth approximately $972,000. Osterweis Capital Management Inc. boosted its stake in shares of Citigroup by 3,016.7% during the 2nd quarter. Osterweis Capital Management Inc. now owns 935 shares of the company’s stock worth $80,000 after acquiring an additional 905 shares during the last quarter. Finally, HUB Investment Partners LLC boosted its stake 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 acquiring an additional 3,238 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Wall Street expectations for big banks are running high, with several analysts saying Citigroup could beat estimates thanks to resilient consumer activity, healthy loan demand, and stronger capital markets conditions.
• Positive Sentiment: Recent coverage highlighted Citigroup as “the one to watch” among major U.S. banks because it is expected to show the biggest year-over-year improvement on an important performance measure, which could support sentiment if results confirm the trend.
• Positive Sentiment: New commentary on Citi’s tokenized USD clearing and Citi Token Services suggests the bank is making progress on digital transformation, reinforcing the case for longer-term operating efficiency and modernization.
• Positive Sentiment: Analysts continue to rate Citigroup favorably overall, with one note saying the stock carries a “Moderate Buy” consensus ahead of earnings.
• Neutral Sentiment: Market-wide risk aversion is also weighing on sentiment, as bank stocks are softer ahead of a packed earnings calendar and broader futures weakness is pressuring cyclical financial shares.
• Neutral Sentiment: Coverage of Citi’s tech overhaul and leadership efforts points to a multiyear turnaround story, but these initiatives are still viewed as work in progress rather than immediate catalysts.
• Negative Sentiment: Investors are still wary about restructuring costs, credit risk, and whether Citigroup can close the gap to its own performance targets, which could limit enthusiasm if earnings disappoint.

Citigroup Price Performance

Shares of Citigroup stock opened at $140.56 on Tuesday. Citigroup Inc. has a 52 week low of $86.22 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 1.59. The company has a market capitalization of $239.74 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 0.66 and a beta of 1.11. The stock’s 50-day simple moving average is $133.96 and its 200-day simple moving average is $123.03.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.43. The company had revenue of $24.63 billion during the quarter, compared to analyst estimates of $22.96 billion. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The firm’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.96 earnings per share. As a group, analysts expect that Citigroup Inc. will post 10.89 earnings per share for the current fiscal year.

Citigroup declared that its board has initiated a stock buyback program on Thursday, May 7th that permits the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 13.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the completion of the transaction, the insider owned 182,022 shares in the company, valued at $23,919,511.02. The trade was a 12.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction that occurred 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 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 position. The SEC filing for this sale provides additional information. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on C. Truist Financial upped their price objective on Citigroup from $147.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. 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. Jefferies Financial Group started coverage on Citigroup in a research report on Thursday, March 26th. They issued a “buy” rating and a $135.00 price target for the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $139.00 price objective on shares of Citigroup in a research note on Wednesday, April 15th. Finally, Evercore set a $143.00 price objective on Citigroup in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $145.00.

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.