Zurich Insurance Group Ltd FI Raises Position in Citigroup Inc. (C)
Zurich Insurance Group Ltd FI raised its holdings in shares of Citigroup Inc. (NYSE:C) by 7.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 464,996 shares of the financial services provider’s stock after buying an additional 32,195 shares during the period. Citigroup comprises approximately 0.9% of Zurich Insurance Group Ltd FI’s investment portfolio, making the stock its 19th biggest position. Zurich Insurance Group Ltd FI’s holdings in Citigroup were worth $31,099,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Capital Analysts LLC boosted its stake in Citigroup by 5.4% in the 2nd quarter. Capital Analysts LLC now owns 45,844 shares of the financial services provider’s stock worth $3,066,000 after purchasing an additional 2,367 shares during the period. Principal Financial Group Inc. boosted its stake in Citigroup by 5.2% in the 2nd quarter. Principal Financial Group Inc. now owns 4,152,299 shares of the financial services provider’s stock worth $277,705,000 after purchasing an additional 205,298 shares during the period. BlackRock Inc. boosted its stake in Citigroup by 2,718.7% in the 1st quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock worth $11,749,573,000 after purchasing an additional 189,447,104 shares during the period. Amalgamated Bank boosted its stake in Citigroup by 1.0% in the 1st quarter. Amalgamated Bank now owns 195,156 shares of the financial services provider’s stock worth $11,674,000 after purchasing an additional 1,937 shares during the period. Finally, Shelton Capital Management boosted its stake in Citigroup by 13.9% in the 1st quarter. Shelton Capital Management now owns 60,400 shares of the financial services provider’s stock worth $3,613,000 after purchasing an additional 7,384 shares during the period. Hedge funds and other institutional investors own 77.98% of the company’s stock.
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A number of research firms recently commented on C. Wells Fargo & Company began coverage on shares of Citigroup in a research note on Wednesday, August 9th. They issued an “outperform” rating and a $90.00 price objective for the company. Raymond James Financial, Inc. began coverage on shares of Citigroup in a research note on Tuesday, October 31st. They issued a “hold” rating for the company. set a $74.00 price objective on shares of Citigroup and gave the stock a “hold” rating in a research note on Friday, August 11th. Morgan Stanley raised their price objective on shares of Citigroup from $73.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, October 13th. Finally, BidaskClub raised shares of Citigroup from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $75.61.
Citigroup Inc. (NYSE C) opened at $72.26 on Thursday. The company has a market cap of $191,372.86, a price-to-earnings ratio of 13.95, a P/E/G ratio of 1.42 and a beta of 1.57. Citigroup Inc. has a twelve month low of $55.23 and a twelve month high of $76.14. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.11.
Citigroup (NYSE:C) last announced its earnings results on Thursday, October 12th. The financial services provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.32 by $0.10. The firm had revenue of $18.17 billion for the quarter, compared to the consensus estimate of $17.87 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.48%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.24 EPS. analysts expect that Citigroup Inc. will post 5.31 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Monday, November 6th were issued a $0.32 dividend. The ex-dividend date was Friday, November 3rd. This represents a $1.28 annualized dividend and a yield of 1.77%. Citigroup’s dividend payout ratio (DPR) is presently 24.66%.
Citigroup Company Profile
Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.
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