Citigroup Inc. (NYSE:C) Shares Purchased by ProVise Management Group LLC

ProVise Management Group LLC increased its position in shares of Citigroup Inc. (NYSE:C) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 189,679 shares of the company’s stock after acquiring an additional 953 shares during the period. Citigroup comprises 1.1% of ProVise Management Group LLC’s investment portfolio, making the stock its 27th biggest position. ProVise Management Group LLC’s holdings in Citigroup were worth $13,352,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of C. Franklin Resources Inc. increased its holdings in Citigroup by 18.5% during the 3rd 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 during the period. Swedbank AB increased its holdings in shares of Citigroup by 90.2% in the 4th quarter. Swedbank AB now owns 8,326,745 shares of the company’s stock valued at $586,120,000 after acquiring an additional 3,947,912 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Citigroup in the 4th quarter valued at about $198,231,000. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Citigroup by 70.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock valued at $283,692,000 after acquiring an additional 1,865,628 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Citigroup by 32.2% in the 4th quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock valued at $501,994,000 after acquiring an additional 1,731,527 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Stock Up 0.4 %

Citigroup stock opened at $70.24 on Wednesday. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The stock has a 50 day moving average of $77.51 and a two-hundred day moving average of $70.11. 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 stock has a market capitalization of $132.37 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 0.64 and a beta of 1.43.

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

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 3rd were paid 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 currently 37.65%.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. StockNews.com upgraded Citigroup from a “hold” rating to a “buy” rating in a report on Tuesday, March 11th. Oppenheimer dropped their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Keefe, Bruyette & Woods increased their price objective on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Truist Financial assumed coverage on Citigroup in a research note on Tuesday, January 7th. They set a “buy” rating and a $85.00 price target on the stock. Finally, Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.93.

Insider Activity at Citigroup

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Sara Wechter sold 15,125 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $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 103,590 shares of company stock valued at $8,523,149 in the last ninety days. Corporate insiders own 0.08% of the company’s stock.

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.