Zurich Insurance Group Ltd FI Takes Position in Citigroup Inc. (NYSE:C)

Zurich Insurance Group Ltd FI purchased a new stake in Citigroup Inc. (NYSE:C - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 363,410 shares of the company's stock, valued at approximately $25,580,000.

Several other institutional investors and hedge funds also recently made changes to their positions in C. Core Alternative Capital boosted its position in shares of Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company's stock valued at $26,000 after purchasing an additional 171 shares in the last quarter. Webster Bank N. A. boosted its position in shares of Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company's stock valued at $35,000 after purchasing an additional 300 shares in the last quarter. Creative Capital Management Investments LLC bought a new stake in shares of Citigroup during the 4th quarter valued at about $35,000. Sierra Ocean LLC bought a new position in Citigroup in the fourth quarter worth approximately $37,000. Finally, Runnymede Capital Advisors Inc. bought a new position in Citigroup in the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 71.72% of the company's stock.

Citigroup Stock Performance

Shares of C opened at $75.83 on Wednesday. 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 company has a market capitalization of $141.63 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 0.64 and a beta of 1.30. The stock has a 50 day moving average of $68.46 and a 200 day moving average of $72.09. Citigroup Inc. has a 12 month low of $53.51 and a 12 month high of $84.74.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.12. The company had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. As a group, sell-side analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 5th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Monday, May 5th. Citigroup's payout ratio is 35.39%.

Insider Activity at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total value of $301,504.42. Following the completion of the sale, the director now directly owns 13,048 shares of the company's stock, valued at $890,656.48. This trade represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on C. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $92.00 price target (down previously from $96.00) on shares of Citigroup in a report on Wednesday, April 16th. Bank of America cut their price target on Citigroup from $90.00 to $89.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Morgan Stanley cut their price target on Citigroup from $110.00 to $109.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Cowen began coverage on Citigroup in a report on Wednesday, May 14th. They issued a "hold" rating on the stock. Finally, Oppenheimer reiterated an "outperform" rating on shares of Citigroup in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $83.97.

About Citigroup

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.

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