Traders Sell Citigroup Inc. (C) on Strength (C)
Traders sold shares of Citigroup Inc. (NYSE:C) on strength during trading on Wednesday. $91.26 million flowed into the stock on the tick-up and $127.12 million flowed out of the stock on the tick-down, for a money net flow of $35.86 million out of the stock. Of all equities tracked, Citigroup had the 0th highest net out-flow for the day. Citigroup traded up $0.90 for the day and closed at $43.89
Several equities analysts have recently weighed in on C shares. Goldman Sachs Group Inc. reissued a “buy” rating and set a $53.00 price target (up from $52.00) on shares of Citigroup in a report on Tuesday, April 19th. Credit Suisse Group AG reissued a “buy” rating on shares of Citigroup in a report on Sunday, April 17th. Evercore ISI reissued a “buy” rating on shares of Citigroup in a report on Monday, May 16th. Vetr cut Citigroup from a “strong-buy” rating to a “buy” rating and set a $52.64 price target on the stock. in a report on Tuesday, April 26th. Finally, Buckingham Research reissued a “buy” rating on shares of Citigroup in a report on Tuesday, June 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $56.01.
The firm’s 50 day moving average is $42.88 and its 200-day moving average is $42.78. The company has a market capitalization of $127.52 billion and a PE ratio of 9.29.
Citigroup (NYSE:C) last released its quarterly earnings results 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. The company had revenue of $17.55 billion for the quarter, compared to analyst estimates of $17.47 billion. During the same quarter last year, the company earned $1.45 EPS. The firm’s revenue for the quarter was down 9.9% on a year-over-year basis. On average, analysts expect that Citigroup Inc. will post $4.62 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Investors of record on Monday, August 1st will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, July 28th. This represents a $0.64 annualized dividend and a dividend yield of 1.46%. This is a positive change from Citigroup’s previous quarterly dividend of $0.05.
In related news, insider Joseph Michael Murray sold 8,122 shares of the company’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $44.35, for a total transaction of $360,210.70. Following the completion of the sale, the insider now owns 35,042 shares of the company’s stock, valued at approximately $1,554,112.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
A number of hedge funds have made changes to their positions in the stock. Davis Rea LTD. boosted 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 valued at $1,121,000 after buying an additional 5,255 shares in the last quarter. Donald Smith & CO. Inc. boosted its stake in shares of Citigroup by 0.4% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,258,442 shares of the financial services provider’s stock valued at $65,124,000 after buying an additional 4,651 shares in the last quarter. Courier Capital Corp boosted its stake in shares of Citigroup by 1.4% in the fourth quarter. Courier Capital Corp now owns 53,467 shares of the financial services provider’s stock valued at $2,767,000 after buying an additional 715 shares in the last quarter. Freestone Capital Holdings LLC boosted its stake in shares of Citigroup by 3.4% in the fourth quarter. Freestone Capital Holdings LLC now owns 39,425 shares of the financial services provider’s stock valued at $2,040,000 after buying an additional 1,295 shares in the last quarter. Finally, South Dakota Investment Council boosted its stake in shares of Citigroup by 1.1% in the fourth quarter. South Dakota Investment Council now owns 1,449,269 shares of the financial services provider’s stock valued at $75,000,000 after buying an additional 15,390 shares in 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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