Union Bancaire Privee UBP SA Sells 29,034 Shares of Citigroup Inc. (NYSE:C)

Union Bancaire Privee UBP SA lessened its stake in Citigroup Inc. (NYSE:C - Free Report) by 19.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 120,532 shares of the company's stock after selling 29,034 shares during the quarter. Union Bancaire Privee UBP SA's holdings in Citigroup were worth $8,225,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of C. Orion Capital Management LLC purchased a new position in Citigroup in the 4th quarter valued at approximately $28,000. American National Bank & Trust purchased a new position in Citigroup in the 1st quarter valued at approximately $29,000. Mascagni Wealth Management Inc. purchased a new position in Citigroup in the 4th quarter valued at approximately $34,000. Creative Capital Management Investments LLC purchased a new position in Citigroup in the 4th quarter valued at approximately $35,000. Finally, Sierra Ocean LLC purchased a new position in Citigroup in the 4th quarter valued at approximately $37,000. Institutional investors own 71.72% of the company's stock.

Wall Street Analysts Forecast Growth

C has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $92.00 price objective (down from $96.00) on shares of Citigroup in a research note on Wednesday, April 16th. Piper Sandler reaffirmed an "overweight" rating and set a $77.00 price objective (down from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. The Goldman Sachs Group upped their price objective on shares of Citigroup from $75.00 to $85.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Cowen began coverage on shares of Citigroup in a research note on Wednesday, May 14th. They set a "hold" rating for the company. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $84.30.

Insider Buying and Selling

In other news, Director John Cunningham Dugan sold 4,417 shares of Citigroup stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total transaction of $301,504.42. Following the transaction, the director now owns 13,048 shares in the company, valued at $890,656.48. This trade represents a 25.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Stock Down 2.5%

C traded down $1.93 during midday trading on Friday, reaching $76.30. The company's stock had a trading volume of 8,774,940 shares, compared to its average volume of 14,509,108. The stock's 50-day moving average is $70.65 and its 200-day moving average is $72.96. Citigroup Inc. has a 1 year low of $53.51 and a 1 year high of $84.74. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $142.51 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.64 and a beta of 1.33.

Citigroup (NYSE:C - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $21.60 billion for the quarter, compared to analysts' expectations of $21.34 billion. As a group, research analysts expect that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.94%. The ex-dividend date was Monday, May 5th. Citigroup's dividend payout ratio is currently 35.39%.

Citigroup 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.