Traders Buy Shares of Citigroup Inc. (C) on Weakness
Traders purchased shares of Citigroup Inc. (NYSE:C) on weakness during trading on Thursday. $115.65 million flowed into the stock on the tick-up and $86.87 million flowed out of the stock on the tick-down, for a money net flow of $28.78 million into the stock. Of all companies tracked, Citigroup had the 15th highest net in-flow for the day. Citigroup traded down ($0.34) for the day and closed at $44.13
A number of research firms recently weighed in on C. Vetr lowered Citigroup from a “strong-buy” rating to a “buy” rating and set a $47.21 target price on the stock. in a report on Monday, July 11th. Deutsche Bank AG reissued a “hold” rating on shares of Citigroup in a report on Wednesday, June 15th. Keefe, Bruyette & Woods lowered Citigroup from an “outperform” rating to a “market perform” rating and set a $51.00 target price on the stock. in a report on Monday, April 18th. Jefferies Group reissued a “buy” rating on shares of Citigroup in a report on Sunday, July 10th. Finally, Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $63.00 target price (down from $70.00) on shares of Citigroup in a report on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eighteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $56.30.
The company has a 50 day moving average of $43.12 and a 200-day moving average of $43.03. The firm has a market capitalization of $128.22 billion and a price-to-earnings ratio of 9.34.
Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.14. The business had revenue of $17.55 billion for the quarter, compared to the consensus estimate of $17.47 billion. During the same period in the prior year, the business posted $1.45 EPS. Citigroup’s quarterly revenue was down 9.9% on a year-over-year basis. Equities analysts forecast that Citigroup Inc. will post $4.60 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Investors of record on Monday, August 1st will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.45%. This is a boost from Citigroup’s previous quarterly dividend of $0.05. The ex-dividend date is Thursday, July 28th.
A number of large investors have bought and sold shares of the stock. BNP Paribas Arbitrage SA raised its stake in 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 valued at $393,357,000 after buying an additional 7,013,858 shares in the last quarter. 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 valued at $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 valued at $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 valued at $518,691,000 after buying an additional 1,118,933 shares during the period. Finally, Gluskin Sheff & Assoc Inc. purchased a new stake in shares of Citigroup during the fourth quarter valued at about $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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