Traders Sell Citigroup Inc. (C) on Strength (C)
Investors sold shares of Citigroup Inc. (NYSE:C) on strength during trading on Monday. $111.43 million flowed into the stock on the tick-up and $140.44 million flowed out of the stock on the tick-down, for a money net flow of $29.01 million out of the stock. Of all stocks tracked, Citigroup had the 0th highest net out-flow for the day. Citigroup traded up $0.24 for the day and closed at $44.57
Several research firms have recently commented on C. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $63.00 target price (down from $70.00) on shares of Citigroup in a research note on Wednesday, July 6th. Vetr cut Citigroup from a “strong-buy” rating to a “buy” rating and set a $48.04 target price for the company. in a research note on Monday, June 27th. Drexel Hamilton reiterated a “buy” rating and set a $65.00 target price on shares of Citigroup in a research note on Monday. Wells Fargo & Co. cut Citigroup from an “outperform” rating to a “market perform” rating in a research note on Friday, July 8th. Finally, Nomura Holdings Inc. reduced their target price on Citigroup from $64.00 to $62.00 in a research note on Monday, March 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have issued a buy rating to the company. Citigroup presently has an average rating of “Buy” and a consensus price target of $56.15.
The company has a market capitalization of $130.81 billion and a price-to-earnings ratio of 8.91. The firm’s 50-day moving average price is $43.22 and its 200-day moving average price is $43.01.
Citigroup (NYSE:C) last released its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.14. The company had revenue of $17.55 billion for the quarter, compared to analyst estimates of $17.47 billion. The business’s revenue was down 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.45 earnings per share. Equities research analysts expect that Citigroup Inc. will post $4.52 earnings per share for the current fiscal year.
In other news, insider W. Bradford Hu sold 9,528 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 53,282 shares in the company, valued at $2,441,914.06. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Several hedge funds have made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its stake in shares of Citigroup by 89.9% in the fourth quarter. BNP Paribas Arbitrage SA now owns 14,817,113 shares of the financial services provider’s stock worth $393,357,000 after buying an additional 7,013,858 shares during the period. Jennison Associates LLC raised its stake in shares of Citigroup by 60.5% in the fourth quarter. Jennison Associates LLC now owns 14,682,508 shares of the financial services provider’s stock worth $759,820,000 after buying an additional 5,533,946 shares during the period. Vanguard Group Inc. raised its stake in shares of Citigroup by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 163,849,049 shares of the financial services provider’s stock worth $8,479,189,000 after buying an additional 1,959,695 shares during the period. Schroder Investment Management Group raised its stake in shares of Citigroup by 12.6% in the fourth quarter. Schroder Investment Management Group now owns 10,023,022 shares of the financial services provider’s stock worth $518,691,000 after buying an additional 1,118,933 shares during the period. Finally, Gluskin Sheff & Assoc Inc. acquired a new stake in shares of Citigroup during the fourth quarter worth $39,917,000.
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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