Strive Asset Management LLC Invests $651,000 in Citigroup Inc. (NYSE:C)

Strive Asset Management LLC purchased a new position in shares of Citigroup Inc. (NYSE:C) during the fourth quarter, HoldingsChannel reports. The fund purchased 9,243 shares of the company’s stock, valued at approximately $651,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Core Alternative Capital lifted its position in Citigroup by 83.4% in the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after acquiring an additional 171 shares in the last quarter. Webster Bank N. A. lifted its position in Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after acquiring an additional 300 shares in the last quarter. Creative Capital Management Investments LLC bought a new stake in Citigroup in the 4th quarter valued at $35,000. Sierra Ocean LLC bought a new stake in Citigroup in the 4th quarter valued at $37,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in Citigroup in the 4th quarter valued at $39,000. 71.72% of the stock is owned by institutional investors.

Insider Buying and Selling at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the transaction, the director now directly owns 13,048 shares of the company’s stock, valued at $890,656.48. This represents a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Evercore ISI cut their price objective on shares of Citigroup from $79.00 to $76.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 1st. TD Cowen started coverage on shares of Citigroup in a research report on Thursday. They issued a “hold” rating and a $83.00 price objective on the stock. Oppenheimer boosted their price target on shares of Citigroup from $91.00 to $94.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Royal Bank of Canada cut their price target on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. Finally, Morgan Stanley cut their price target on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $83.97.

Citigroup Stock Down 0.4%

Citigroup stock opened at $75.66 on Friday. The firm has a market capitalization of $141.31 billion, a PE ratio of 12.72, a P/E/G ratio of 0.64 and a beta of 1.30. The company’s 50-day moving average is $68.12 and its 200-day moving average is $71.92. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. The business had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. Sell-side analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be issued a $0.56 dividend. The ex-dividend date is Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 2.96%. Citigroup’s dividend payout ratio is currently 35.39%.

About Citigroup

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.