Zurcher Kantonalbank Zurich Cantonalbank Has $90.97 Million Holdings in Citigroup Inc. (NYSE:C)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in shares of Citigroup Inc. (NYSE:C) by 21.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,292,399 shares of the company’s stock after selling 345,121 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Citigroup were worth $90,972,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Swedbank AB lifted its position in shares of Citigroup by 1.3% in the third quarter. Swedbank AB now owns 4,378,833 shares of the company’s stock worth $274,115,000 after purchasing an additional 54,782 shares in the last quarter. Equitable Trust Co. lifted its holdings in shares of Citigroup by 4.3% in the third quarter. Equitable Trust Co. now owns 30,483 shares of the company’s stock worth $1,908,000 after acquiring an additional 1,243 shares during the last quarter. CWA Asset Management Group LLC bought a new position in shares of Citigroup in the third quarter worth about $1,018,000. Lindbrook Capital LLC raised its holdings in Citigroup by 3.6% in the 3rd quarter. Lindbrook Capital LLC now owns 9,218 shares of the company’s stock valued at $577,000 after buying an additional 317 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. raised its holdings in Citigroup by 6.8% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 19,379 shares of the company’s stock worth $1,213,000 after purchasing an additional 1,232 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Evercore ISI boosted their price objective on Citigroup from $69.00 to $79.00 and gave the company an “in-line” rating in a research note on Thursday, January 16th. Truist Financial began coverage on Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 price objective on the stock. Finally, Piper Sandler reiterated an “overweight” rating and set a $83.00 price target (up from $80.00) on shares of Citigroup in a research report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $83.93.

Insider Buying and Selling

In other news, CFO Mark Mason sold 58,465 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $83.21, for a total value of $4,864,872.65. Following the completion of the transaction, the chief financial officer now owns 217,331 shares of the company’s stock, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Anand Selvakesari sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the completion of the transaction, the chief operating officer now directly owns 229,180 shares of the company’s stock, valued at approximately $18,586,498. The trade was a 11.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,590 shares of company stock valued at $8,523,149. Corporate insiders own 0.08% of the company’s stock.

Citigroup Price Performance

C opened at $70.55 on Monday. The stock has a market cap of $132.94 billion, a P/E ratio of 11.86, a PEG ratio of 0.64 and a beta of 1.43. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.74. The business has a fifty day moving average of $77.90 and a 200 day moving average of $69.78.

Citigroup (NYSE:C) last posted its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $19.58 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same quarter in the previous year, the business posted $0.84 EPS. Citigroup’s revenue was up 12.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 3rd were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend was Monday, February 3rd. Citigroup’s dividend payout ratio (DPR) is currently 37.65%.

Citigroup declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 15th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 13.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.