Alerus Financial NA Makes New $365,000 Investment in Citigroup Inc. (NYSE:C)

Alerus Financial NA bought a new position in shares of Citigroup Inc. (NYSE:C) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,183 shares of the company’s stock, valued at approximately $365,000.

Several other institutional investors and hedge funds have also recently modified their holdings of C. Brookstone Capital Management raised its position in Citigroup by 340.6% during the fourth quarter. Brookstone Capital Management now owns 36,034 shares of the company’s stock valued at $2,536,000 after purchasing an additional 27,856 shares during the period. Inspire Trust Co. N.A. raised its holdings in Citigroup by 34.8% during the 3rd quarter. Inspire Trust Co. N.A. now owns 77,506 shares of the company’s stock valued at $4,852,000 after buying an additional 20,000 shares during the period. FNY Investment Advisers LLC boosted its stake in Citigroup by 168.7% during the fourth quarter. FNY Investment Advisers LLC now owns 19,560 shares of the company’s stock worth $1,376,000 after buying an additional 12,280 shares during the period. HighTower Advisors LLC boosted its stake in Citigroup by 2.4% during the third quarter. HighTower Advisors LLC now owns 354,294 shares of the company’s stock worth $22,236,000 after buying an additional 8,301 shares during the period. Finally, Candriam S.C.A. raised its stake in shares of Citigroup by 12.7% in the fourth quarter. Candriam S.C.A. now owns 200,860 shares of the company’s stock valued at $14,139,000 after acquiring an additional 22,657 shares during the period. Institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on C shares. StockNews.com upgraded Citigroup from a “hold” rating to a “buy” rating in a report on Saturday, March 22nd. 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 for the company. Morgan Stanley cut their price objective on shares of Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Oppenheimer decreased their target price on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.50.

Citigroup Stock Down 2.2 %

C stock opened at $70.28 on Friday. The company has a market capitalization of $132.28 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. The firm’s fifty day simple moving average is $77.06 and its 200-day simple moving average is $70.63. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74.

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

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.19%. The ex-dividend date was Monday, February 3rd. Citigroup’s payout ratio is presently 37.65%.

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

Insider Buying and Selling

In related news, CFO Mark Mason sold 58,465 shares of the 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 transaction, the chief financial officer now owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 109,780 shares in the company, valued at approximately $8,893,277.80. The trade was 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 90 days. Insiders own 0.08% of the company’s stock.

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.