Vinva Investment Management Ltd Has $8.32 Million Stock Holdings in Citigroup Inc. (NYSE:C)

Vinva Investment Management Ltd raised its holdings in Citigroup Inc. (NYSE:C) by 29.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 118,220 shares of the company’s stock after purchasing an additional 26,725 shares during the quarter. Vinva Investment Management Ltd’s holdings in Citigroup were worth $8,322,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Stokes Family Office LLC bought a new position in shares of Citigroup in the 4th quarter valued at $243,000. VSM Wealth Advisory LLC bought a new position in shares of Citigroup in the 4th quarter valued at $70,000. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Citigroup by 14.3% in the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 596,254 shares of the company’s stock valued at $41,985,000 after acquiring an additional 74,470 shares during the last quarter. ProVise Management Group LLC lifted its stake in shares of Citigroup by 0.5% in the 4th quarter. ProVise Management Group LLC now owns 189,679 shares of the company’s stock valued at $13,352,000 after acquiring an additional 953 shares during the last quarter. Finally, Xponance Inc. lifted its stake in shares of Citigroup by 2.1% in the 4th quarter. Xponance Inc. now owns 275,732 shares of the company’s stock valued at $19,409,000 after acquiring an additional 5,596 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on C. StockNews.com upgraded Citigroup from a “hold” rating to a “buy” rating in a research note on Tuesday, March 11th. Piper Sandler reaffirmed an “overweight” rating and set a $83.00 target price (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. The Goldman Sachs Group raised their target price on Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Evercore ISI raised their target price on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a research report on Thursday, January 16th. Finally, Barclays raised Citigroup from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $70.00 to $95.00 in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.93.

Citigroup Stock Performance

C stock opened at $70.24 on Wednesday. The stock has a 50-day moving average price of $77.51 and a 200-day moving average price of $70.11. 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 cap of $132.37 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43.

Citigroup (NYSE:C) last posted its quarterly earnings data 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. The firm had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the company posted $0.84 EPS. As a group, equities research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were paid a $0.56 dividend. The ex-dividend date was Monday, February 3rd. This represents a $2.24 annualized dividend and a dividend yield of 3.19%. Citigroup’s dividend payout ratio is presently 37.65%.

Citigroup declared that its board has initiated a share repurchase plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to buy up to 13.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, insider Sara Wechter sold 15,125 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the completion of the sale, the insider now directly owns 109,780 shares in the company, valued at $8,893,277.80. This trade represents a 12.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.10, for a total value of $2,433,000.00. Following the transaction, the chief operating officer now owns 229,180 shares of the company’s stock, valued at $18,586,498. This trade represents 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 in the last three months. Company insiders own 0.08% of the company’s stock.

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.