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

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in Citigroup Inc. (NYSE:C) by 21.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (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 owned about 0.07% of Citigroup worth $90,972,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Swedbank AB boosted its position in 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 during the last quarter. Equitable Trust Co. increased its stake in Citigroup by 4.3% in the 3rd 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 Citigroup in the 3rd quarter worth about $1,018,000. Lindbrook Capital LLC increased its stake in Citigroup by 3.6% in the 3rd quarter. Lindbrook Capital LLC now owns 9,218 shares of the company’s stock worth $577,000 after acquiring an additional 317 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. increased its position in shares of Citigroup by 6.8% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 19,379 shares of the company’s stock valued at $1,213,000 after purchasing an additional 1,232 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on C shares. Keefe, Bruyette & Woods increased their target price on Citigroup from $85.00 to $92.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Wells Fargo & Company raised their price objective on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Truist Financial assumed coverage on Citigroup in a research report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective for the company. Evercore ISI lifted their target price on Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Finally, Oppenheimer cut their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.93.

Insider Activity

In related news, insider Sara Wechter sold 15,125 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the transaction, the insider now directly owns 109,780 shares of the company’s stock, valued at approximately $8,893,277.80. The trade was a 12.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mark Mason sold 58,465 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the completion of the sale, the chief financial officer now directly owns 217,331 shares of the company’s stock, valued at $18,084,112.51. This represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 103,590 shares of company stock valued at $8,523,149. Company insiders own 0.08% of the company’s stock.

Citigroup Stock Performance

Shares of C stock opened at $70.55 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74. The company 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 firm has a fifty day moving average price of $77.90 and a 200 day moving average price of $69.78.

Citigroup (NYSE:C) last issued its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.12. The company 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 firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period last year, the company posted $0.84 earnings per share. Sell-side analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

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

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

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.