Spartan Planning & Wealth Management Makes New Investment in Citigroup Inc. (NYSE:C)

Spartan Planning & Wealth Management purchased a new position in shares of Citigroup Inc. (NYSE:C) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 3,276 shares of the company’s stock, valued at approximately $231,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC increased its position in shares of Citigroup by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock valued at $2,492,238,000 after purchasing an additional 791,758 shares during the last quarter. Franklin Resources Inc. raised its holdings in Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after purchasing an additional 4,680,713 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Citigroup by 3.2% during the 3rd quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock worth $1,813,544,000 after buying an additional 911,694 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Citigroup by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock valued at $1,105,999,000 after buying an additional 913,231 shares in the last quarter. Finally, Greenhaven Associates Inc. grew its position in shares of Citigroup by 1.5% in the 3rd quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock valued at $1,056,900,000 after buying an additional 242,545 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

C has been the subject of a number of research reports. Oppenheimer reduced their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday. Piper Sandler upped their target price on Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group lifted their price target on Citigroup from $72.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Morgan Stanley reduced their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $70.00 to $95.00 in a report on Monday. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.13.

Citigroup Price Performance

Shares of NYSE C traded up $1.53 during midday trading on Tuesday, hitting $74.27. The company had a trading volume of 9,599,273 shares, compared to its average volume of 12,391,862. The firm has a market capitalization of $140.46 billion, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 0.80 and a beta of 1.43. Citigroup Inc. has a twelve month low of $50.51 and a twelve month high of $74.29. The business has a 50-day simple moving average of $69.50 and a two-hundred day simple moving average of $64.74. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55.

Citigroup (NYSE:C) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. The company had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the firm earned $1.52 EPS. Equities research analysts anticipate that Citigroup Inc. will post 5.86 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were given a dividend of $0.56 per share. The ex-dividend date was Monday, November 4th. This represents a $2.24 dividend on an annualized basis and a yield of 3.02%. Citigroup’s payout ratio is 64.93%.

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.