Citigroup Inc. (NYSE:C) Shares Acquired by Providence Capital Advisors LLC

Providence Capital Advisors LLC increased its position in shares of Citigroup Inc. (NYSE:C) by 319,310.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,629 shares of the company’s stock after acquiring an additional 92,600 shares during the quarter. Citigroup accounts for about 1.3% of Providence Capital Advisors LLC’s holdings, making the stock its 26th largest position. Providence Capital Advisors LLC’s holdings in Citigroup were worth $6,520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Core Alternative Capital raised its position in shares of Citigroup by 83.4% during the fourth quarter. Core Alternative Capital now owns 376 shares of the company’s stock worth $26,000 after acquiring an additional 171 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in Citigroup in the third quarter valued at approximately $31,000. Webster Bank N. A. grew its holdings in Citigroup by 150.0% in the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after buying an additional 300 shares in the last quarter. Creative Capital Management Investments LLC acquired a new stake in shares of Citigroup during the 4th quarter worth $35,000. Finally, Sierra Ocean LLC acquired a new position in shares of Citigroup during the 4th quarter worth $37,000. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on C shares. Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $70.00 to $95.00 in a research note on Monday, January 6th. Evercore ISI boosted their price objective on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Piper Sandler restated an “overweight” rating and set a $83.00 price target (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Truist Financial assumed coverage on shares of Citigroup in a research report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price on the stock. Finally, StockNews.com raised shares of Citigroup from a “hold” rating to a “buy” rating in a report on Saturday, March 22nd. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.53.

Citigroup Price Performance

C stock opened at $71.90 on Friday. The firm has a market capitalization of $135.32 billion, a P/E ratio of 12.08, a P/E/G ratio of 0.64 and a beta of 1.43. The business’s 50-day moving average is $77.26 and its two-hundred day moving average is $70.56. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. 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 (NYSE:C) last released its earnings results 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 net margin of 7.43% and a return on equity of 6.62%. The company had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter last year, the business earned $0.84 EPS. The business’s revenue was up 12.3% on a year-over-year basis. Analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 3rd were issued a $0.56 dividend. The ex-dividend date was Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.12%. Citigroup’s dividend payout ratio (DPR) is presently 37.65%.

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

Insider Activity at Citigroup

In related news, insider Sara Wechter sold 15,125 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 109,780 shares of the company’s stock, valued at $8,893,277.80. This represents a 12.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 217,331 shares in the company, valued at approximately $18,084,112.51. The trade was a 21.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is currently owned by corporate insiders.

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.