ProVise Management Group LLC boosted its position in Citigroup Inc (NYSE:C) by 36.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 133,132 shares of the financial services provider’s stock after buying an additional 35,831 shares during the quarter. Citigroup makes up about 1.3% of ProVise Management Group LLC’s holdings, making the stock its 17th largest position. ProVise Management Group LLC’s holdings in Citigroup were worth $9,551,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its stake in shares of Citigroup by 1.3% in the first quarter. Principal Financial Group Inc. now owns 4,167,300 shares of the financial services provider’s stock valued at $281,292,000 after purchasing an additional 53,619 shares during the period. Trust Co. of Vermont lifted its stake in shares of Citigroup by 8.4% in the second quarter. Trust Co. of Vermont now owns 18,527 shares of the financial services provider’s stock valued at $1,240,000 after purchasing an additional 1,438 shares during the period. NN Investment Partners Holdings N.V. lifted its stake in shares of Citigroup by 0.7% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,914,091 shares of the financial services provider’s stock valued at $128,089,000 after purchasing an additional 13,659 shares during the period. Nexus Investment Management Inc. lifted its stake in shares of Citigroup by 0.5% in the second quarter. Nexus Investment Management Inc. now owns 379,635 shares of the financial services provider’s stock valued at $25,405,000 after purchasing an additional 1,785 shares during the period. Finally, First National Bank of Mount Dora Trust Investment Services lifted its stake in shares of Citigroup by 4.7% in the second quarter. First National Bank of Mount Dora Trust Investment Services now owns 66,888 shares of the financial services provider’s stock valued at $4,476,000 after purchasing an additional 3,010 shares during the period. 74.79% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have weighed in on C shares. ValuEngine downgraded shares of Citigroup from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. TheStreet upgraded shares of Citigroup from a “c” rating to a “b-” rating in a report on Monday, July 30th. BMO Capital Markets raised their target price on shares of Citigroup from $76.00 to $85.00 and gave the company a “market perform” rating in a report on Monday, July 16th. Vining Sparks restated a “buy” rating and set a $77.00 target price on shares of Citigroup in a report on Tuesday, October 9th. Finally, Oppenheimer raised their target price on shares of Citigroup from $89.00 to $91.00 and gave the company an “outperformer” rating in a report on Monday, July 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $82.91.
Citigroup (NYSE:C) last issued its quarterly earnings results on Friday, October 12th. The financial services provider reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.07. The business had revenue of $18.39 billion during the quarter, compared to the consensus estimate of $18.43 billion. Citigroup had a negative net margin of 4.81% and a positive return on equity of 9.42%. During the same period in the previous year, the firm posted $1.42 earnings per share. On average, research analysts predict that Citigroup Inc will post 6.69 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Monday, November 5th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.74%. Citigroup’s dividend payout ratio (DPR) is presently 33.77%.
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Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.
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