Providence Capital Advisors LLC Has $6.52 Million Holdings in Citigroup Inc. (NYSE:C)

Providence Capital Advisors LLC increased its position in shares of Citigroup Inc. (NYSE:C) by 319,310.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 92,629 shares of the company’s stock after buying an additional 92,600 shares during the quarter. Citigroup makes up 1.3% of Providence Capital Advisors LLC’s investment portfolio, making the stock its 26th largest holding. Providence Capital Advisors LLC’s holdings in Citigroup were worth $6,520,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Core Alternative Capital boosted its position in shares of Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after acquiring an additional 171 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Citigroup in the third quarter valued at approximately $31,000. Webster Bank N. A. lifted its stake in shares of Citigroup by 150.0% during the fourth quarter. Webster Bank N. A. now owns 500 shares of the company’s stock valued at $35,000 after acquiring an additional 300 shares during the period. Creative Capital Management Investments LLC acquired a new stake in shares of Citigroup during the 4th quarter worth approximately $35,000. Finally, Sierra Ocean LLC acquired a new position in shares of Citigroup in the 4th quarter valued at $37,000. 71.72% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the sale, the chief operating officer now directly owns 229,180 shares in the company, valued at approximately $18,586,498. The trade was a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,590 shares of company stock worth $8,523,149 over the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on C shares. StockNews.com upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a report on Saturday, March 22nd. Bank of America lifted their price target on shares of Citigroup from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Evercore ISI increased their price objective on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a report on Thursday, January 16th. Morgan Stanley dropped their price objective on Citigroup from $110.00 to $109.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, The Goldman Sachs Group reduced their target price on shares of Citigroup from $90.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and an average price target of $83.53.

Citigroup Trading Down 1.8 %

NYSE C opened at $71.90 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 1-year low of $53.51 and a 1-year high of $84.74. The stock has a 50-day moving average of $77.26 and a 200-day moving average of $70.56. The firm has a market cap of $135.32 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last posted its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter in the prior year, the business posted $0.84 EPS. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup announced that its board has approved a stock buyback plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Citigroup Announces Dividend

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

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.