Ellevest Inc. Invests $273,000 in Citigroup Inc. (NYSE:C)

Ellevest Inc. bought a new stake in Citigroup Inc. (NYSE:C) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,877 shares of the company’s stock, valued at approximately $273,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Core Alternative Capital lifted its position in 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 purchasing an additional 171 shares during the period. Webster Bank N. A. lifted 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 valued at $35,000 after buying an additional 300 shares during the period. Creative Capital Management Investments LLC purchased a new stake in shares of Citigroup in the fourth quarter worth about $35,000. Sierra Ocean LLC acquired a new stake in Citigroup during the fourth quarter worth about $37,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in Citigroup during the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada dropped their price objective on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 16th. StockNews.com lowered shares of Citigroup from a “buy” rating to a “hold” rating in a research report on Sunday, March 30th. Truist Financial decreased their price objective on shares of Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Bank of America dropped their target price on Citigroup from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Finally, Morgan Stanley reduced their price target on Citigroup from $110.00 to $109.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $84.04.

Insider Buying and Selling

In related news, insider Sara Wechter sold 15,125 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the completion of the transaction, the insider now directly owns 109,780 shares in the company, valued at $8,893,277.80. This trade represents a 12.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Cunningham Dugan sold 4,417 shares of the business’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the sale, the director now owns 13,048 shares in the company, valued at $890,656.48. This trade represents a 25.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 108,007 shares of company stock valued at $8,824,653. 0.08% of the stock is currently owned by insiders.

Citigroup Stock Performance

NYSE:C opened at $71.39 on Friday. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The company has a market cap of $134.37 billion, a P/E ratio of 12.00, a P/E/G ratio of 0.64 and a beta of 1.30. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The company’s 50-day moving average price is $67.56 and its 200-day moving average price is $71.51.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company had revenue of $21.60 billion during the quarter, compared to analysts’ expectations of $21.34 billion. On average, sell-side analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 5th will be paid a dividend of $0.56 per share. The ex-dividend date is Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 3.14%. Citigroup’s dividend payout ratio (DPR) is 35.39%.

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

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.