Zurich Insurance Group Ltd FI Has $29.39 Million Stake in Citigroup Inc. $C

Key Points

• Zurich Insurance Group Ltd FI has increased its holdings in Citigroup by 13.9%, acquiring an additional 50,651 shares during the 1st quarter, bringing its total ownership to 414,061 shares valued at approximately $29.4 million.
• Citigroup recently announced a dividend increase to $0.60 per share, up from the previous $0.56, which signifies a yield of 2.5% for shareholders.
• The company reported earnings of $1.96 EPS for the last quarter, exceeding estimates, and experienced an 8.2% year-over-year revenue growth, totaling $21.67 billion.

Zurich Insurance Group Ltd FI grew its position in Citigroup Inc. (NYSE:C - Free Report) by 13.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 414,061 shares of the company's stock after buying an additional 50,651 shares during the period. Zurich Insurance Group Ltd FI's holdings in Citigroup were worth $29,394,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new position in Citigroup in the fourth quarter valued at about $28,000. MorganRosel Wealth Management LLC acquired a new position in Citigroup in the first quarter valued at about $28,000. American National Bank & Trust bought a new position in Citigroup during the first quarter worth about $29,000. Accent Capital Management LLC lifted its holdings in Citigroup by 106.0% during the first quarter. Accent Capital Management LLC now owns 412 shares of the company's stock worth $29,000 after acquiring an additional 212 shares in the last quarter. Finally, Truvestments Capital LLC lifted its holdings in Citigroup by 131.6% during the first quarter. Truvestments Capital LLC now owns 433 shares of the company's stock worth $31,000 after acquiring an additional 246 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company's stock.

Insiders Place Their Bets

In other Citigroup news, Director Peter B. Henry sold 3,000 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total transaction of $271,200.00. Following the completion of the sale, the director directly owned 2,140 shares in the company, valued at $193,456. This represents a 58.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on C. Piper Sandler lifted their target price on Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Bank of America lifted their target price on Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. UBS Group restated a "neutral" rating and issued a $89.00 price target on shares of Citigroup in a report on Tuesday, July 15th. Evercore ISI set a $77.00 price target on Citigroup in a report on Monday, July 7th. Finally, Keefe, Bruyette & Woods restated a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Citigroup has a consensus rating of "Moderate Buy" and an average price target of $96.96.

Citigroup Price Performance

Shares of C stock traded up $0.69 during trading on Friday, hitting $99.51. The company had a trading volume of 9,502,253 shares, compared to its average volume of 12,405,087. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $183.19 billion, a P/E ratio of 14.70, a price-to-earnings-growth ratio of 0.85 and a beta of 1.41. The stock's 50-day moving average price is $93.63 and its 200 day moving average price is $79.86. Citigroup Inc. has a one year low of $55.51 and a one year high of $99.70.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.35. The business had revenue of $21.67 billion during the quarter, compared to analysts' expectations of $20.75 billion. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.52 earnings per share. Citigroup has set its FY 2025 guidance at EPS. Equities analysts expect that Citigroup Inc. will post 7.53 EPS for the current fiscal year.

Citigroup Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Monday, August 4th were paid a dividend of $0.60 per share. The ex-dividend date was Monday, August 4th. This is a boost from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a yield of 2.4%. Citigroup's dividend payout ratio is currently 35.45%.

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.