62,660 Shares in Citigroup Inc. (NYSE:C) Acquired by Banque Cantonale Vaudoise

Key Points

• Banque Cantonale Vaudoise invested $4.45 million in Citigroup Inc., acquiring 62,660 shares during the first quarter.
• Analysts have raised their target prices for Citigroup, with Piper Sandler setting a new target at $104.00 and Barclays at $100.00, indicating positive growth expectations.
• Citigroup is increasing its quarterly dividend from $0.56 to $0.60 per share, reflecting a dividend yield of 2.51%.

Banque Cantonale Vaudoise purchased a new position in shares of Citigroup Inc. (NYSE:C - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 62,660 shares of the company's stock, valued at approximately $4,449,000.

Several other large investors have also recently made changes to their positions in the company. Orion Capital Management LLC acquired a new position in shares of Citigroup in the 4th quarter valued at $28,000. MorganRosel Wealth Management LLC acquired a new position in shares of Citigroup in the 1st quarter valued at $28,000. American National Bank & Trust acquired a new position in shares of Citigroup in the 1st quarter valued at $29,000. Mascagni Wealth Management Inc. acquired a new position in shares of Citigroup in the 4th quarter valued at $34,000. Finally, Whipplewood Advisors LLC lifted its stake in shares of Citigroup by 79.2% in the 1st quarter. Whipplewood Advisors LLC now owns 570 shares of the company's stock valued at $40,000 after purchasing an additional 252 shares during the last quarter. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Stock Down 2.0%

C stock traded down $1.86 during mid-day trading on Friday, reaching $91.84. The company had a trading volume of 17,340,398 shares, compared to its average volume of 15,933,025. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.98 and a current ratio of 0.99. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $96.90. The company has a market capitalization of $171.53 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 0.82 and a beta of 1.34. The firm has a fifty day simple moving average of $83.98 and a 200 day simple moving average of $76.86.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. The firm had revenue of $21.67 billion for the quarter, compared to the consensus estimate of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%. The firm's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.52 EPS. Analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Monday, August 4th will be issued a dividend of $0.60 per share. This is a boost from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 4th. Citigroup's payout ratio is presently 35.45%.

Insider Transactions at Citigroup

In related news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $90.40, for a total value of $271,200.00. Following the completion of the transaction, the director owned 2,140 shares of the company's stock, valued at approximately $193,456. The trade was a 58.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on C. JPMorgan Chase & Co. decreased their price target on Citigroup from $85.50 to $75.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Barclays increased their target price on Citigroup from $95.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Bank of America increased their target price on Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Piper Sandler increased their target price on Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Finally, Morgan Stanley increased their target price on Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $96.54.

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.