Citigroup Inc. $C Stock: Provenance Wealth Advisors LLC Increases Stake

Provenance Wealth Advisors LLC increased its position in Citigroup Inc. (NYSE:C) by 2,708.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,224 shares of the company’s stock after acquiring an additional 5,038 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Citigroup were worth $676,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Whipplewood Advisors LLC acquired a new stake in shares of Citigroup in the first quarter valued at about $25,000. Paladin Partners LLC bought a new position in shares of Citigroup in the second quarter worth about $27,000. Balance Wealth Partners LLC bought a new position in shares of Citigroup in the third quarter worth about $27,000. IMG Wealth Management Inc. increased its stake in shares of Citigroup by 197.6% in the first quarter. IMG Wealth Management Inc. now owns 244 shares of the company’s stock worth $28,000 after purchasing an additional 162 shares during the period. Finally, Scarborough Advisors LLC acquired a new position in shares of Citigroup during the 1st quarter worth about $29,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Trending Headlines about Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: China approved Citi’s wholly owned securities company, which is expected to offer brokerage, underwriting and research services. The move expands Citi’s presence in China’s capital markets and could create longer-term business opportunities. Why Is Citigroup Building A Bigger China Business Through A New Securities Unit?
• Positive Sentiment: A report on Citi’s workforce reductions, restructuring and AI investments said the initiatives target $2 billion to $2.5 billion in annual savings, which could support profitability if the bank delivers on the plan. Will Citigroup’s Cost-Cut Initiatives Boost Long-Term Profitability?
• Negative Sentiment: Media reports described a police response, including SWAT teams, to a reported shooting at Citi’s Tampa campus and urged the public to stay away. The available report did not establish further details or any effect on Citi’s operations. Citi Tampa shooting report

Citigroup Stock Performance

NYSE C opened at $124.72 on Thursday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.00 and a quick ratio of 0.99. The firm has a market capitalization of $212.73 billion, a price-to-earnings ratio of 12.17, a P/E/G ratio of 0.54 and a beta of 1.18. The company’s fifty day moving average is $129.50 and its two-hundred day moving average is $126.57. Citigroup Inc. has a 52-week low of $95.83 and a 52-week high of $147.96.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, October 13th. The company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.19. Citigroup had a net margin of 10.97% and a return on equity of 10.57%. The company had revenue of $23.84 billion for the quarter, compared to the consensus estimate of $23.74 billion. During the same quarter in the previous year, the firm posted $1.86 EPS. The business’s revenue was up 7.9% compared to the same quarter last year. Equities research analysts forecast that Citigroup Inc. will post 11.44 EPS for the current year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Monday, November 2nd will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, November 2nd. Citigroup’s payout ratio is currently 26.15%.

Analyst Upgrades and Downgrades

C has been the subject of several recent analyst reports. Zacks Research downgraded Citigroup from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 14th. Loop Capital set a $155.00 target price on Citigroup in a report on Tuesday, October 13th. Weiss Ratings downgraded Citigroup from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 2nd. TD Cowen cut their price target on Citigroup from $150.00 to $148.00 and set a “buy” rating for the company in a report on Wednesday, October 14th. Finally, Evercore set a $135.00 price target on Citigroup in a report on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $150.87.

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City and operates under the Citi brand. The company provides banking, lending, investment, wealth management and other financial services to individuals, businesses, institutions and governments.

Citi’s consumer offerings include checking and savings accounts, credit cards, mortgages, personal lending and wealth management services. Through its institutional businesses, the company provides investment banking, commercial banking, securities brokerage, markets and trading, cash management, trade finance and custody services.