Banque Cantonale Vaudoise Boosts Stake in Citigroup Inc. $C

Banque Cantonale Vaudoise boosted its stake in shares of Citigroup Inc. (NYSE:C) by 21.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 63,396 shares of the company’s stock after buying an additional 11,157 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Citigroup were worth $7,398,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Elmwood Wealth Management Inc. lifted its position in shares of Citigroup by 1.3% during the 4th quarter. Elmwood Wealth Management Inc. now owns 6,845 shares of the company’s stock valued at $799,000 after buying an additional 85 shares in the last quarter. Park Place Capital Corp raised its stake in Citigroup by 16.7% during the 4th quarter. Park Place Capital Corp now owns 595 shares of the company’s stock worth $69,000 after acquiring an additional 85 shares during the period. D.B. Root & Company LLC lifted its holdings in Citigroup by 2.8% during the fourth quarter. D.B. Root & Company LLC now owns 3,191 shares of the company’s stock valued at $372,000 after purchasing an additional 87 shares in the last quarter. Cornerstone Wealth Management LLC boosted its position in shares of Citigroup by 0.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 10,393 shares of the company’s stock worth $1,213,000 after purchasing an additional 87 shares during the period. Finally, N.E.W. Advisory Services LLC increased its stake in shares of Citigroup by 14.9% in the fourth quarter. N.E.W. Advisory Services LLC now owns 703 shares of the company’s stock worth $82,000 after purchasing an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Stock Performance

NYSE:C opened at $119.96 on Wednesday. The firm has a market capitalization of $204.60 billion, a PE ratio of 14.87, a PEG ratio of 0.55 and a beta of 1.14. The stock’s fifty day moving average is $120.03 and its 200 day moving average is $114.43. Citigroup Inc. has a fifty-two week low of $71.65 and a fifty-two week high of $135.29. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.63 by $0.43. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The company had revenue of $24.63 billion for the quarter, compared to the consensus estimate of $22.96 billion. During the same period in the prior year, the firm posted $1.96 EPS. The firm’s revenue was up 14.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Citigroup Inc. will post 10.65 earnings per share for the current year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 4th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, May 4th. Citigroup’s dividend payout ratio is presently 29.74%.

Citigroup declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 7th that permits the company to buyback $30.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 13.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup launched a €15 billion private capital program with BlackRock’s HPS to expand direct lending across EMEA, a move that could strengthen fee-based revenue and deepen its presence in private credit. Article Title
• Positive Sentiment: Citi reported better April card delinquency and charge-off trends year over year, suggesting some improvement in consumer credit quality. Article Title
• Positive Sentiment: Citi received final approval to launch a wholly foreign-owned securities firm in mainland China, expanding its ability to offer investment banking and brokerage services directly in a major market. Article Title
• Positive Sentiment: Citigroup hired former UK lawmaker Chuka Umunna as managing director in its UK investment banking division, a small but notable talent win that may support its EMEA franchise. Article Title
• Neutral Sentiment: Citi’s call that 30-year Treasury yields may next focus on 5.5% reflects its macro view, but it is not a direct operating driver for the bank. Article Title
• Negative Sentiment: CFRA reportedly downgraded Citigroup to Hold, which may be tempering enthusiasm after a strong run in the shares. Article Title

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group lifted their target price on shares of Citigroup from $137.00 to $151.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Keefe, Bruyette & Woods increased their target price on Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Truist Financial set a $147.00 price target on Citigroup in a report on Friday, May 1st. Barclays boosted their target price on shares of Citigroup from $146.00 to $154.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Finally, Wall Street Zen raised shares of Citigroup from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $137.62.

Insider Buying and Selling

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $131.41, for a total value of $3,285,250.00. Following the sale, the insider owned 182,022 shares in the company, valued at $23,919,511.02. This trade represents a 12.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $125.30, for a total transaction of $265,260.10. Following the sale, the director owned 12,194 shares of the company’s stock, valued at $1,527,908.20. The trade was a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.11% of the stock is currently owned by company insiders.

Citigroup Profile

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.