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

ProVise Management Group LLC cut its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 8.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Orion Capital Management LLC purchased a new position in Citigroup in the 4th quarter worth about $26,000. Frazier Financial Advisors LLC purchased a new stake in shares of Citigroup during the 4th quarter valued at about $29,000. Rakuten Securities Inc. purchased a new stake in shares of Citigroup during the 4th quarter valued at about $35,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of Citigroup during the 4th quarter valued at about $39,000. Finally, Venturi Wealth Management LLC increased its position in shares of Citigroup by 52.5% during the 4th quarter. Venturi Wealth Management LLC now owns 796 shares of the company's stock valued at $41,000 after purchasing an additional 274 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

C has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their price objective on Citigroup from $54.00 to $66.00 and gave the company a "market perform" rating in a research note on Friday, April 5th. The Goldman Sachs Group reiterated a "buy" rating on shares of Citigroup in a research note on Monday, April 1st. StockNews.com upgraded Citigroup from a "sell" rating to a "hold" rating in a research note on Tuesday, March 19th. Oppenheimer dropped their price target on Citigroup from $87.00 to $86.00 and set an "outperform" rating for the company in a research note on Tuesday, April 30th. Finally, Piper Sandler upped their price target on Citigroup from $67.00 to $70.00 and gave the stock an "overweight" rating in a research note on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $62.85.

Citigroup Stock Up 0.9 %

Shares of C traded up $0.55 during midday trading on Friday, reaching $63.58. 9,424,614 shares of the stock were exchanged, compared to its average volume of 15,747,118. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $64.98. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50. The company's 50 day moving average is $61.76 and its two-hundred day moving average is $55.07. The company has a market capitalization of $121.27 billion, a P/E ratio of 18.81, a PEG ratio of 0.95 and a beta of 1.49.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $21.10 billion for the quarter, compared to the consensus estimate of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The firm's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.86 earnings per share. On average, sell-side analysts anticipate that Citigroup Inc. will post 5.98 earnings per share for the current year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup's payout ratio is 62.72%.

About Citigroup

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.