Elevation Point Wealth Partners LLC Boosts Stock Holdings in Citigroup Inc. $C

Elevation Point Wealth Partners LLC raised its stake in Citigroup Inc. (NYSE:C) by 579.0% during the first quarter, HoldingsChannel.com reports. The fund owned 51,728 shares of the company’s stock after purchasing an additional 44,110 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Citigroup were worth $5,866,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Platform Technology Partners boosted its position in shares of Citigroup by 97.3% during the 1st quarter. Platform Technology Partners now owns 3,891 shares of the company’s stock valued at $441,000 after acquiring an additional 1,919 shares during the last quarter. DSG Capital Advisors LLC increased its holdings in shares of Citigroup by 3.4% in the 1st quarter. DSG Capital Advisors LLC now owns 98,728 shares of the company’s stock worth $11,197,000 after buying an additional 3,280 shares during the last quarter. Jamison Private Wealth Management Inc. raised its position in shares of Citigroup by 2.0% during the 1st quarter. Jamison Private Wealth Management Inc. now owns 11,222 shares of the company’s stock valued at $1,273,000 after buying an additional 224 shares in the last quarter. Keybank National Association OH lifted its holdings in shares of Citigroup by 17.9% in the 1st quarter. Keybank National Association OH now owns 57,408 shares of the company’s stock valued at $6,511,000 after acquiring an additional 8,709 shares during the last quarter. Finally, Smithbridge Asset Management Inc. DE lifted its holdings in shares of Citigroup by 612.7% in the 1st quarter. Smithbridge Asset Management Inc. DE now owns 16,057 shares of the company’s stock valued at $1,821,000 after acquiring an additional 13,804 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Key Headlines 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

Citigroup Stock Performance

Citigroup stock opened at $139.93 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $238.67 billion, a PE ratio of 17.34, a P/E/G ratio of 0.60 and a beta of 1.11. The company has a 50 day moving average price of $132.49 and a 200-day moving average price of $121.88. Citigroup Inc. has a fifty-two week low of $85.48 and a fifty-two week high of $147.96.

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

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

Insider Activity

In other Citigroup news, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $125.30, for a total transaction 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. This represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward Skyler sold 25,000 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total value of $3,285,250.00. Following the sale, the insider directly owned 182,022 shares in the company, valued at $23,919,511.02. This trade represents a 12.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Citigroup from $131.00 to $135.50 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Jefferies Financial Group assumed coverage on Citigroup in a report on Thursday, March 26th. They issued a “buy” rating and a $135.00 target price for the company. Wall Street Zen raised Citigroup from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Truist Financial increased their price target on Citigroup from $147.00 to $158.00 and gave the company a “buy” rating in a report on Friday, June 26th. Finally, Keefe, Bruyette & Woods raised their price target on Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and an average target price of $139.62.

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.