Spahn Wealth & Retirement LLC Invests $3.97 Million in Citigroup Inc. (NYSE:C)

Spahn Wealth & Retirement LLC acquired a new stake in shares of Citigroup Inc. (NYSE:C) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 56,391 shares of the company’s stock, valued at approximately $3,969,000. Citigroup makes up approximately 2.6% of Spahn Wealth & Retirement LLC’s holdings, making the stock its 16th largest position.

A number of other large investors have also added to or reduced their stakes in C. Core Alternative Capital grew its holdings in shares of Citigroup by 83.4% during the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after buying an additional 171 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in Citigroup during the 3rd quarter valued at $31,000. Webster Bank N. A. increased its holdings 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 purchasing an additional 300 shares in the last quarter. Creative Capital Management Investments LLC purchased a new position in shares of Citigroup in the fourth quarter worth $35,000. Finally, Sierra Ocean LLC bought a new position in shares of Citigroup during the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Insider Activity at Citigroup

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

Citigroup Price Performance

Shares of Citigroup stock opened at $71.81 on Thursday. The company has a market capitalization of $135.16 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 0.64 and a beta of 1.43. 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 stock’s 50-day simple moving average is $76.46 and its 200-day simple moving average is $71.01. Citigroup Inc. has a 52 week low of $53.51 and a 52 week high of $84.74.

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

Citigroup declared that its board has initiated a share repurchase program on Wednesday, January 15th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 13.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio is currently 37.65%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Bank of America decreased their target price on Citigroup from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Wednesday. Piper Sandler restated an “overweight” rating and set a $83.00 price objective (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Truist Financial began coverage on shares of Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price on the stock. StockNews.com lowered shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Oppenheimer dropped their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Citigroup presently has an average rating of “Moderate Buy” and an average price target of $83.86.

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.