Strategic Family Wealth Counselors L.L.C. Makes New $208,000 Investment in Citigroup Inc. (NYSE:C)

Strategic Family Wealth Counselors L.L.C. purchased a new stake in shares of Citigroup Inc. (NYSE:C) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,960 shares of the company’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Callan Family Office LLC acquired a new position in Citigroup during the fourth quarter valued at approximately $897,000. E Fund Management Co. Ltd. bought a new position in shares of Citigroup during the fourth quarter worth approximately $323,000. Candriam S.C.A. increased its stake in Citigroup by 12.7% during the 4th quarter. Candriam S.C.A. now owns 200,860 shares of the company’s stock worth $14,139,000 after acquiring an additional 22,657 shares during the period. Vestmark Advisory Solutions Inc. bought a new position in Citigroup during the 4th quarter worth $210,000. Finally, Pinnacle Wealth Planning Services Inc. increased its stake in Citigroup by 3.3% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 5,106 shares of the company’s stock worth $359,000 after acquiring an additional 165 shares during the period. Institutional investors own 71.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and issued a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Keefe, Bruyette & Woods lifted their price target on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Wells Fargo & Company lifted their price target on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Truist Financial assumed 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. Finally, The Goldman Sachs Group raised their price objective on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $83.93.

Insider Buying and Selling

In related news, insider Sara Wechter sold 15,125 shares of the stock in a transaction dated 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 sale, the insider now directly owns 109,780 shares of the company’s stock, valued at $8,893,277.80. This represents a 12.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mark Mason sold 58,465 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction 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. This represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,590 shares of company stock valued at $8,523,149. Company insiders own 0.08% of the company’s stock.

Citigroup Stock Performance

Citigroup stock opened at $70.40 on Friday. The stock’s 50 day simple moving average is $77.91 and its two-hundred day simple moving average is $69.60. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $132.67 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 0.64 and a beta of 1.43. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74.

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

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s payout ratio is 37.65%.

Citigroup declared that its board has initiated a share buyback program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to buy up to 13.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.