ProVise Management Group LLC Sells 16,203 Shares of Citigroup Inc. (NYSE:C)

ProVise Management Group LLC trimmed its stake in Citigroup Inc. (NYSE:C) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 165,237 shares of the company’s stock after selling 16,203 shares during the quarter. ProVise Management Group LLC’s holdings in Citigroup were worth $8,500,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Orion Capital Management LLC bought a new stake in Citigroup during the 4th quarter worth approximately $26,000. Frazier Financial Advisors LLC bought a new position in shares of Citigroup in the 4th quarter worth about $29,000. Rakuten Securities Inc. bought a new stake in Citigroup during the 4th quarter valued at about $35,000. Tennessee Valley Asset Management Partners bought a new stake in Citigroup during the 4th quarter valued at about $39,000. Finally, Venturi Wealth Management LLC grew its stake in shares of Citigroup by 52.5% in the fourth quarter. Venturi Wealth Management LLC now owns 796 shares of the company’s stock worth $41,000 after acquiring an additional 274 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Trading Up 0.9 %

Shares of Citigroup stock traded up $0.56 during trading on Friday, hitting $63.58. The company’s stock had a trading volume of 9,415,391 shares, compared to its average volume of 15,747,118. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market cap of $121.28 billion, a price-to-earnings ratio of 18.78, a price-to-earnings-growth ratio of 0.95 and a beta of 1.49. The stock has a 50-day moving average price of $61.64 and a two-hundred day moving average price of $54.92. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $64.98.

Citigroup (NYSE:C) last released its earnings results on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.29. The firm had revenue of $21.10 billion during the quarter, compared to the consensus estimate of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.86 EPS. Equities research analysts anticipate that Citigroup Inc. will post 5.98 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be given a dividend of $0.53 per share. The ex-dividend date is Friday, May 3rd. This represents a $2.12 annualized dividend and a yield of 3.33%. Citigroup’s dividend payout ratio (DPR) is presently 62.72%.

Wall Street Analyst Weigh In

C has been the topic of a number of analyst reports. Oppenheimer cut their price objective on shares of Citigroup from $87.00 to $86.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Citigroup in a research note on Monday, April 1st. Morgan Stanley raised Citigroup from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $46.00 to $65.00 in a research note on Tuesday, January 30th. Piper Sandler raised their price objective on Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, Evercore ISI boosted their target price on Citigroup from $58.00 to $60.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned 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 $62.85.

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.