Spartan Planning & Wealth Management Acquires Shares of 3,276 Citigroup Inc. (NYSE:C)

Spartan Planning & Wealth Management bought a new position in shares of Citigroup Inc. (NYSE:C) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,276 shares of the company’s stock, valued at approximately $231,000.

A number of other institutional investors have also recently modified their holdings of the business. Private Advisor Group LLC increased its holdings in Citigroup by 8.8% in the 2nd quarter. Private Advisor Group LLC now owns 176,772 shares of the company’s stock worth $11,218,000 after acquiring an additional 14,299 shares in the last quarter. Candriam S.C.A. raised its position in shares of Citigroup by 8.4% during the 2nd quarter. Candriam S.C.A. now owns 177,800 shares of the company’s stock worth $11,283,000 after purchasing an additional 13,851 shares during the last quarter. Strategic Financial Concepts LLC lifted its stake in Citigroup by 1,139.7% in the 2nd quarter. Strategic Financial Concepts LLC now owns 52,738 shares of the company’s stock valued at $33,000 after buying an additional 48,484 shares in the last quarter. Ballentine Partners LLC boosted its holdings in Citigroup by 21.6% in the 2nd quarter. Ballentine Partners LLC now owns 15,068 shares of the company’s stock worth $956,000 after buying an additional 2,680 shares during the last quarter. Finally, Quest Partners LLC increased its stake in Citigroup by 180,154.5% during the 2nd quarter. Quest Partners LLC now owns 39,656 shares of the company’s stock worth $2,517,000 after buying an additional 39,634 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Trading Up 2.1 %

Shares of Citigroup stock traded up $1.53 during trading hours on Tuesday, hitting $74.27. The company’s stock had a trading volume of 9,599,273 shares, compared to its average volume of 12,391,862. The firm has a fifty day moving average of $69.50 and a 200-day moving average of $64.74. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $140.46 billion, a price-to-earnings ratio of 21.53, a P/E/G 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.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.20. The company had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. Citigroup’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.52 earnings per share. Research analysts forecast that Citigroup Inc. will post 5.86 EPS 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 $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s payout ratio is 64.93%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Truist Financial started coverage on shares of Citigroup in a research note on Tuesday. They set a “buy” rating and a $85.00 target price on the stock. Evercore ISI increased their target price on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 16th. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $70.00 to $95.00 in a research report on Monday. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Citigroup from $82.00 to $85.00 and gave the company an “outperform” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.13.

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.