Traders Buy Shares of Citigroup Inc. (C) on Weakness
Investors purchased shares of Citigroup Inc. (NYSE:C) on weakness during trading on Friday. $274.76 million flowed into the stock on the tick-up and $193.08 million flowed out of the stock on the tick-down, for a money net flow of $81.68 million into the stock. Of all stocks tracked, Citigroup had the 17th highest net in-flow for the day. Citigroup traded down ($0.12) for the day and closed at $44.33
A number of research analysts have weighed in on the stock. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Citigroup in a research note on Sunday, April 17th. Jefferies Group reaffirmed a “buy” rating on shares of Citigroup in a research note on Sunday, July 10th. Deutsche Bank AG reiterated a “hold” rating on shares of Citigroup in a report on Sunday, June 26th. BMO Capital Markets reiterated an “outperform” rating and issued a $63.00 price objective (up from $61.00) on shares of Citigroup in a report on Monday, April 18th. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $53.00 price objective (up from $52.00) on shares of Citigroup in a report on Tuesday, April 19th. 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. The company presently has a consensus rating of “Buy” and a consensus target price of $56.16.
The company has a 50-day moving average of $43.28 and a 200 day moving average of $43.20. The firm has a market capitalization of $130.11 billion and a PE ratio of 8.86.
Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.14. During the same period last year, the business posted $1.45 EPS. The firm earned $17.55 billion during the quarter, compared to analysts’ expectations of $17.47 billion. The company’s revenue was down 9.9% compared to the same quarter last year. On average, analysts forecast that Citigroup Inc. will post $4.50 EPS for the current year.
In other Citigroup news, insider W. Bradford Hu sold 9,528 shares of the firm’s stock in a transaction dated Wednesday, April 20th. The stock was 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 owns 53,282 shares in the company, valued at approximately $2,441,914.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Several hedge funds have modified their holdings of C. Davis Rea LTD. increased its stake in shares of Citigroup by 32.0% in the fourth quarter. Davis Rea LTD. now owns 21,670 shares of the financial services provider’s stock worth $1,121,000 after buying an additional 5,255 shares during the period. BHF Kleinwort Benson Group S.A. acquired a new stake in shares of Citigroup during the fourth quarter worth about $1,211,000. New Jersey Better Educational Savings Trust increased its stake in shares of Citigroup by 9.1% in the fourth quarter. New Jersey Better Educational Savings Trust now owns 24,000 shares of the financial services provider’s stock worth $1,242,000 after buying an additional 2,000 shares during the period. Whalerock Point Partners LLC increased its stake in shares of Citigroup by 17.1% in the fourth quarter. Whalerock Point Partners LLC now owns 24,327 shares of the financial services provider’s stock worth $1,258,000 after buying an additional 3,560 shares during the period. Finally, Carret Asset Management LLC increased its stake in shares of Citigroup by 6.4% in the fourth quarter. Carret Asset Management LLC now owns 24,784 shares of the financial services provider’s stock worth $1,283,000 after buying an additional 1,491 shares during the period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.