Aspen Wealth Strategies LLC Purchases Shares of 2,958 Citigroup Inc. (NYSE:C)

Aspen Wealth Strategies LLC bought a new position in shares of Citigroup Inc. (NYSE:C) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,958 shares of the company’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Core Alternative Capital grew its holdings in shares of Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after acquiring an additional 171 shares during the period. Legacy Investment Solutions LLC purchased a new stake in shares of Citigroup in the 3rd quarter worth approximately $31,000. Creative Capital Management Investments LLC purchased a new stake in shares of Citigroup in the 4th quarter worth approximately $35,000. Webster Bank N. A. grew its stake in shares of Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after buying an additional 300 shares during the last quarter. Finally, Sierra Ocean LLC purchased a new stake in shares of Citigroup in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Insider Buying and Selling

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 transaction, the insider now directly owns 109,780 shares in the company, valued at $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the chief financial officer now owns 217,331 shares in the company, valued at $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,590 shares of company stock valued at $8,523,149. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

C has been the topic of several recent research reports. Keefe, Bruyette & Woods upped their price target on Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. StockNews.com upgraded Citigroup from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Truist Financial began coverage on Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price target on the stock. Morgan Stanley increased their target price on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Bank of America increased their target price on Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Price Performance

NYSE C opened at $69.96 on Tuesday. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74. The business’s fifty day moving average price is $77.58 and its 200-day moving average price is $70.06. The stock has a market capitalization of $131.84 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 0.64 and a beta of 1.43. 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 earnings results on Wednesday, January 15th. The company reported $1.34 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 company had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $19.51 billion. During the same period last year, the firm earned $0.84 EPS. Citigroup’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup declared that its Board of Directors has approved a stock buyback plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Citigroup Dividend Announcement

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

Citigroup 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.