Aspen Wealth Strategies LLC Purchases New Holdings in Citigroup Inc. (NYSE:C)

Aspen Wealth Strategies LLC purchased a new stake in shares of Citigroup Inc. (NYSE:C) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,958 shares of the company’s stock, valued at approximately $208,000.

A number of other institutional investors and hedge funds also recently modified their holdings of C. Blake Schutter Theil Wealth Advisors LLC grew its holdings in Citigroup by 1.6% during the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 8,637 shares of the company’s stock valued at $608,000 after purchasing an additional 135 shares during the period. Hemington Wealth Management grew its holdings in Citigroup by 10.9% during the fourth quarter. Hemington Wealth Management now owns 1,387 shares of the company’s stock valued at $97,000 after purchasing an additional 136 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in Citigroup by 3.4% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,112 shares of the company’s stock valued at $289,000 after purchasing an additional 137 shares during the period. Rakuten Securities Inc. grew its holdings in Citigroup by 2.4% during the fourth quarter. Rakuten Securities Inc. now owns 5,953 shares of the company’s stock valued at $419,000 after purchasing an additional 139 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Citigroup by 1.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,405 shares of the company’s stock valued at $592,000 after purchasing an additional 140 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

C has been the subject of several recent research reports. Evercore ISI lifted their price target on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research report on Thursday, January 16th. Morgan Stanley lifted their price target on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. StockNews.com upgraded Citigroup from a “hold” rating to a “buy” rating in a research report on Tuesday, March 11th. Bank of America lifted their price target on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $83.00 price target (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Citigroup Price Performance

C opened at $69.96 on Tuesday. The stock has a 50-day moving average price of $77.58 and a 200-day moving average price of $70.06. Citigroup Inc. has a 12-month low of $53.51 and a 12-month high of $84.74. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $131.84 billion, a P/E ratio of 11.76, a PEG ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same period in the prior year, the business earned $0.84 EPS. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. Equities analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date was Monday, February 3rd. Citigroup’s payout ratio is currently 37.65%.

Citigroup declared that its board has approved a share repurchase plan on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to reacquire up to 13.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Citigroup

In other news, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the completion of the sale, the insider now owns 109,780 shares of the company’s stock, valued at approximately $8,893,277.80. The trade was a 12.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $83.21, for a total value of $4,864,872.65. Following the completion of the sale, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Company Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.