QRG Capital Management Inc. Has $42.71 Million Holdings in Citigroup Inc. $C

QRG Capital Management Inc. lifted its position in Citigroup Inc. (NYSE:C) by 4.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 376,613 shares of the company’s stock after acquiring an additional 17,364 shares during the quarter. QRG Capital Management Inc.’s holdings in Citigroup were worth $42,712,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Truist Financial Corp boosted its position in Citigroup by 4.7% during the fourth quarter. Truist Financial Corp now owns 375,977 shares of the company’s stock valued at $43,873,000 after purchasing an additional 16,744 shares during the last quarter. Gunderson Capital Management Inc. purchased a new position in Citigroup in the fourth quarter valued at about $7,165,000. Brighton Jones LLC increased its position in Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock worth $1,407,000 after purchasing an additional 12,499 shares during the last quarter. UniSuper Management Pty Ltd raised its stake in shares of Citigroup by 38.8% during the 4th quarter. UniSuper Management Pty Ltd now owns 1,306,851 shares of the company’s stock worth $152,496,000 after purchasing an additional 365,041 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Citigroup by 11.8% during the 4th quarter. Nordea Investment Management AB now owns 7,986,407 shares of the company’s stock worth $933,891,000 after purchasing an additional 844,056 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Performance

C opened at $139.93 on Friday. The company has a market cap of $238.67 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 0.60 and a beta of 1.11. The stock has a 50-day moving average of $132.49 and a 200-day moving average of $121.88. Citigroup Inc. has a 52-week low of $85.48 and a 52-week high of $147.96. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99.

Citigroup (NYSE:C) last issued its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.63 by $0.43. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The business had revenue of $24.63 billion for the quarter, compared to the consensus estimate of $22.96 billion. During the same period last year, the business earned $1.96 EPS. The firm’s revenue was up 14.1% compared to the same quarter last year. As a group, equities research analysts forecast that Citigroup Inc. will post 10.83 earnings per share for the current fiscal year.

Citigroup announced that its board has initiated a share buyback plan on Thursday, May 7th that permits the company to buyback $30.00 billion in shares. This buyback authorization permits the company to purchase up to 13.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Citigroup

In other news, Director John Cunningham Dugan sold 2,117 shares of the business’s stock in a transaction 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 completion of the sale, the director directly owned 12,194 shares in the company, valued at approximately $1,527,908.20. The trade was a 14.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward Skyler sold 25,000 shares of the company’s stock in a transaction 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 sale, the insider directly owned 182,022 shares of the company’s stock, valued at approximately $23,919,511.02. This represents a 12.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.11% of the company’s stock.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup remains in focus heading into the next bank earnings cycle, with analysts noting that expectations for the financial sector have been steadily improving and that large banks like Citi will help kick off reporting later this month. This keeps attention on whether Citi can extend its recent earnings momentum. Article Title
• Positive Sentiment: Citigroup recently announced a leadership addition in wealth management, appointing Michael Yannell to lead hedge funds within its alternatives platform. The move suggests Citi is expanding higher-fee wealth offerings to meet client demand, which may support revenue growth. Article Title
• Neutral Sentiment: Citi also made news for trimming its bitcoin and ether price targets, reflecting a more cautious stance on crypto demand and delayed US regulation. This is more of a sentiment call on digital assets than a direct catalyst for Citigroup shares. Article Title
• Negative Sentiment: Citi warned that oil could slump to $60 a barrel as Middle East supply fears fade, which reinforces a more bearish macro view from the bank’s research team. While not directly tied to Citi’s core earnings, the call can weigh on market sentiment around its commodity and trading outlook. Article Title

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Oppenheimer lowered Citigroup from an “outperform” rating to a “market perform” rating in a report on Tuesday. JPMorgan Chase & Co. raised their price objective on shares of Citigroup from $131.00 to $135.50 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $139.00 target price on shares of Citigroup in a research note on Wednesday, April 15th. Piper Sandler reissued an “overweight” rating and issued a $145.00 target price (up from $125.00) on shares of Citigroup in a research report on Wednesday, April 15th. Finally, Evercore set a $139.00 price target on shares of Citigroup in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and a consensus target price of $139.62.

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.