Spectrum Financial Alliance Ltd LLC Acquires 8,450 Shares of Citigroup Inc. (NYSE:C)

Spectrum Financial Alliance Ltd LLC lifted its holdings in Citigroup Inc. (NYSE:C) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 578,323 shares of the company’s stock after purchasing an additional 8,450 shares during the period. Citigroup accounts for about 14.1% of Spectrum Financial Alliance Ltd LLC’s investment portfolio, making the stock its 3rd biggest holding. Spectrum Financial Alliance Ltd LLC’s holdings in Citigroup were worth $40,708,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Core Alternative Capital boosted its stake in Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after purchasing an additional 171 shares during the period. Legacy Investment Solutions LLC acquired a new position in shares of Citigroup during the third quarter worth approximately $31,000. Webster Bank N. A. boosted its position in shares of Citigroup by 150.0% in the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after acquiring an additional 300 shares during the period. Creative Capital Management Investments LLC acquired a new stake in shares of Citigroup in the fourth quarter worth $35,000. Finally, GHP Investment Advisors Inc. increased its position in Citigroup by 184.0% during the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after acquiring an additional 368 shares during the period. 71.72% of the stock is currently owned by institutional investors.

Citigroup Price Performance

NYSE:C opened at $79.65 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. The firm has a market cap of $150.63 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 0.64 and a beta of 1.44. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The company’s 50-day moving average price is $76.80 and its two-hundred day moving average price is $68.56.

Citigroup (NYSE:C) last released its quarterly 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 business had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same period in the prior year, the company earned $0.84 EPS. Citigroup’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 annualized dividend and a yield of 2.81%. Citigroup’s dividend payout ratio (DPR) is 37.65%.

Citigroup announced that its Board of Directors has approved a stock repurchase program on Wednesday, January 15th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the company to buy up to 13.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have weighed in on C. Bank of America increased their price target on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Piper Sandler reissued an “overweight” rating and set a $83.00 target price (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Wells Fargo & Company upped their price target on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. The Goldman Sachs Group lifted their price objective on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, Evercore ISI upped their target price on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.93.

Insider Buying and Selling

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the transaction, the chief operating officer now owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. This represents a 11.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sara Wechter sold 15,125 shares of Citigroup stock in a transaction on Thursday, February 13th. The shares were 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 directly owns 109,780 shares of the company’s stock, valued at $8,893,277.80. This trade represents a 12.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,590 shares of company stock worth $8,523,149 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

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.