Union Bancaire Privee UBP SA Buys New Shares in Citigroup Inc. (NYSE:C)

Union Bancaire Privee UBP SA purchased a new stake in Citigroup Inc. (NYSE:C) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 149,566 shares of the company’s stock, valued at approximately $10,400,000.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in shares of Citigroup by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock worth $2,492,238,000 after buying an additional 791,758 shares during the last quarter. Franklin Resources Inc. lifted its position in Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after acquiring an additional 4,680,713 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Citigroup by 3.2% during the third quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock worth $1,813,544,000 after acquiring an additional 911,694 shares during the period. Greenhaven Associates Inc. grew its position in shares of Citigroup by 1.5% in the third quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock valued at $1,056,900,000 after purchasing an additional 242,545 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in shares of Citigroup by 9.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock worth $981,347,000 after purchasing an additional 1,404,120 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Trading Down 0.7 %

Shares of C stock opened at $81.41 on Monday. The company has a market capitalization of $153.96 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 0.65 and a beta of 1.43. Citigroup Inc. has a 52-week low of $52.24 and a 52-week high of $82.77. The business’s fifty day moving average is $72.47 and its 200 day moving average is $66.10. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.

Citigroup (NYSE:C) last released its quarterly earnings results on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The business had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.84 EPS. On average, equities research analysts anticipate that Citigroup Inc. will post 7.51 EPS for the current fiscal year.

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

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Monday, February 3rd will be given a $0.56 dividend. The ex-dividend date is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.75%. Citigroup’s dividend payout ratio is currently 37.65%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Oppenheimer reduced their target price on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Keefe, Bruyette & Woods increased their price objective on shares of Citigroup from $85.00 to $92.00 and gave the stock an “outperform” rating in a research note on Thursday, January 16th. Truist Financial initiated coverage on shares of Citigroup in a report on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price on the stock. Finally, Piper Sandler reiterated an “overweight” rating and set a $83.00 price target (up previously from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.93.

Citigroup Company Profile

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.