Provence Wealth Management Group Has $270,000 Stock Holdings in Citigroup Inc. (NYSE:C)

Provence Wealth Management Group decreased its holdings in shares of Citigroup Inc. (NYSE:C) by 21.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,251 shares of the company’s stock after selling 1,407 shares during the quarter. Provence Wealth Management Group’s holdings in Citigroup were worth $270,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Citigroup during the 3rd quarter worth $209,000. Simplicity Solutions LLC boosted its stake in Citigroup by 17.6% during the 4th quarter. Simplicity Solutions LLC now owns 27,791 shares of the company’s stock valued at $1,430,000 after purchasing an additional 4,150 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Citigroup by 56.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,245,693 shares of the company’s stock valued at $64,078,000 after buying an additional 449,310 shares during the last quarter. GFS Advisors LLC bought a new position in Citigroup in the 4th quarter worth approximately $2,003,000. Finally, Sound Income Strategies LLC lifted its holdings in shares of Citigroup by 9.1% during the fourth quarter. Sound Income Strategies LLC now owns 258,150 shares of the company’s stock worth $13,279,000 after buying an additional 21,440 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Citigroup Price Performance

C stock traded up $0.51 during trading on Friday, hitting $61.52. 11,048,877 shares of the stock traded hands, compared to its average volume of 15,112,875. The stock has a market cap of $117.83 billion, a price-to-earnings ratio of 18.20, a P/E/G ratio of 0.92 and a beta of 1.49. Citigroup Inc. has a one year low of $38.17 and a one year high of $63.90. 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 has a 50 day simple moving average of $59.70 and a 200 day simple moving average of $52.62.

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

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Friday, May 3rd. Citigroup’s payout ratio is presently 62.72%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on C shares. Keefe, Bruyette & Woods boosted their target price on shares of Citigroup from $54.00 to $66.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Societe Generale lowered shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Monday, January 8th. Evercore ISI boosted their price target on Citigroup from $58.00 to $60.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. HSBC lifted their price objective on Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Citigroup in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and a consensus price target of $62.85.

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.