ProVise Management Group LLC Buys 3,582 Shares of Citigroup Inc. (NYSE:C)

Key Points

• ProVise Management Group LLC increased its stake in Citigroup by 1.9%, acquiring 3,582 additional shares, bringing its total holdings to 193,261 shares, valued at approximately $13.72 million.
• Citigroup's earnings report showed an EPS of $1.96, which surpassed the consensus estimate of $1.61, along with a revenue of $21.67 billion for the quarter.
• The firm announced a quarterly dividend increase to $0.60 per share, representing a 2.6% yield, with the ex-dividend date set for August 4th.

ProVise Management Group LLC increased its holdings in Citigroup Inc. (NYSE:C - Free Report) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 193,261 shares of the company's stock after purchasing an additional 3,582 shares during the period. Citigroup makes up 1.2% of ProVise Management Group LLC's portfolio, making the stock its 27th biggest position. ProVise Management Group LLC's holdings in Citigroup were worth $13,720,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in C. Orion Capital Management LLC acquired a new position in Citigroup in the fourth quarter worth $28,000. MorganRosel Wealth Management LLC acquired a new position in shares of Citigroup during the 1st quarter worth about $28,000. American National Bank & Trust acquired a new position in shares of Citigroup during the 1st quarter worth about $29,000. Mascagni Wealth Management Inc. bought a new position in Citigroup during the fourth quarter worth about $34,000. Finally, HHM Wealth Advisors LLC lifted its holdings in Citigroup by 805.2% during the first quarter. HHM Wealth Advisors LLC now owns 525 shares of the company's stock worth $37,000 after acquiring an additional 467 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.

Insider Buying and Selling

In other news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the transaction, the director directly owned 2,140 shares of the company's stock, valued at $193,456. The trade was a 58.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is owned by insiders.

Citigroup Price Performance

NYSE:C traded down $1.86 during trading hours on Friday, hitting $91.84. The company's stock had a trading volume of 17,720,586 shares, compared to its average volume of 15,836,717. The stock has a fifty day simple moving average of $84.36 and a 200-day simple moving average of $76.98. The company has a market capitalization of $171.53 billion, a P/E ratio of 13.57, a PEG ratio of 0.79 and a beta of 1.38. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.99 and a quick ratio of 0.98. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $96.90.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The company had revenue of $21.67 billion during the quarter, compared to analysts' expectations of $20.75 billion. During the same period in the prior year, the company earned $1.52 EPS. Citigroup's revenue was up 8.2% compared to the same quarter last year. On average, analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be issued a $0.60 dividend. The ex-dividend date is Monday, August 4th. This is a boost from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a yield of 2.6%. Citigroup's dividend payout ratio (DPR) is currently 33.09%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods restated a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. Barclays increased their price target on Citigroup from $95.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. The Goldman Sachs Group upped their target price on shares of Citigroup from $85.00 to $96.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. TD Cowen upped their price objective on shares of Citigroup from $85.00 to $95.00 and gave the company a "hold" rating in a report on Wednesday, July 16th. Finally, Truist Financial boosted their price target on Citigroup from $93.00 to $99.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $96.54.

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.