Investors Buy Citigroup Inc. (C) on Weakness
Investors purchased shares of Citigroup Inc. (NYSE:C) on weakness during trading hours on Wednesday. $165.92 million flowed into the stock on the tick-up and $98.85 million flowed out of the stock on the tick-down, for a money net flow of $67.07 million into the stock. Of all stocks tracked, Citigroup had the 4th highest net in-flow for the day. Citigroup traded down ($0.11) for the day and closed at $43.33
A number of research analysts recently commented on C shares. Nomura Holdings Inc. decreased their price target on shares of Citigroup from $64.00 to $62.00 in a research note on Monday, March 21st. Credit Suisse Group AG reiterated a “buy” rating on shares of Citigroup in a research note on Sunday, April 17th. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $53.00 price target (up previously from $52.00) on shares of Citigroup in a research note on Tuesday, April 19th. Vetr lowered shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $52.64 price target on the stock. in a research note on Tuesday, April 26th. Finally, Evercore ISI reiterated a “buy” rating on shares of Citigroup in a research note on Monday, May 16th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $56.16.
The company has a market capitalization of $127.17 billion and a price-to-earnings ratio of 8.66. The company has a 50 day moving average price of $43.41 and a 200-day moving average price of $43.25.
Citigroup (NYSE:C) last released its quarterly earnings data on Friday, April 15th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.07. The company had revenue of $17.60 billion for the quarter. During the same quarter in the prior year, the firm posted $1.52 EPS. Citigroup’s revenue was down 11.1% on a year-over-year basis. On average, equities analysts predict that Citigroup Inc. will post $4.52 EPS for the current fiscal year.
In related news, insider W. Bradford Hu sold 9,528 shares of the firm’s stock in a transaction on Wednesday, April 20th. The shares were sold at an average price of $45.83, for a total value of $436,668.24. Following the completion of the transaction, the insider now directly owns 53,282 shares of the company’s stock, valued at $2,441,914.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Other hedge funds and institutional investors have bought and sold shares of the company. MUFG Americas raised its position in Citigroup by 9.5% in the third quarter. MUFG Americas now owns 145,512 shares of the financial services provider’s stock worth $7,219,000 after buying an additional 12,613 shares during the period. Janus Capital Management raised its position in Citigroup by 7.4% in the third quarter. Janus Capital Management now owns 3,401,825 shares of the financial services provider’s stock valued at $168,771,000 after buying an additional 234,942 shares during the last quarter. First Trust Advisors LP raised its position in Citigroup by 71.1% in the fourth quarter. First Trust Advisors LP now owns 497,634 shares of the financial services provider’s stock valued at $25,753,000 after buying an additional 206,780 shares during the last quarter. First Citizens Bank & Trust Co. raised its position in Citigroup by 1.8% in the fourth quarter. First Citizens Bank & Trust Co. now owns 158,270 shares of the financial services provider’s stock valued at $8,190,000 after buying an additional 2,859 shares during the last quarter. Finally, LSV Asset Management raised its position in Citigroup by 10.2% in the fourth quarter. LSV Asset Management now owns 12,505,528 shares of the financial services provider’s stock valued at $647,161,000 after buying an additional 1,158,140 shares during the last quarter.
Citigroup Inc (Citi) is a financial services holding company, whose businesses provide consumers, corporations, governments and institutions with 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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