Citigroup Inc. (C) Shares Gap Up to $43.84
Citigroup Inc. (NYSE:C) shares gapped up before the market opened on Friday . The stock had previously closed at $43.37, but opened at $43.84. Citigroup shares last traded at $45.27, with a volume of 14,029,372 shares.
A number of research firms have commented on C. Jefferies Group reaffirmed a “buy” rating on shares of Citigroup in a report on Monday. Zacks Investment Research raised Citigroup from a “sell” rating to a “hold” rating in a report on Thursday, July 21st. Barclays PLC reaffirmed a “buy” rating on shares of Citigroup in a report on Monday, July 18th. BMO Capital Markets reaffirmed a “buy” rating and set a $66.00 target price (up previously from $63.00) on shares of Citigroup in a report on Monday, July 18th. Finally, Nomura reaffirmed a “buy” rating and set a $57.00 target price (down previously from $62.00) on shares of Citigroup in a report on Monday, July 18th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $56.01.
The firm has a market cap of $132.83 billion and a price-to-earnings ratio of 9.68. The firm’s 50-day moving average price is $43.04 and its 200 day moving average price is $42.81.
Citigroup (NYSE:C) last announced its earnings results on Friday, July 15th. The financial services provider reported $1.24 EPS for the quarter, topping the consensus estimate of $1.10 by $0.14. The business earned $17.55 billion during the quarter, compared to analyst estimates of $17.47 billion. During the same period in the previous year, the firm earned $1.45 earnings per share. The firm’s revenue was down 9.9% compared to the same quarter last year. Analysts expect that Citigroup Inc. will post $4.62 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Monday, August 1st will be issued a $0.16 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.05. This represents a $0.64 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Thursday, July 28th.
In other news, insider Joseph Michael Murray sold 8,122 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $44.35, for a total value of $360,210.70. Following the transaction, the insider now directly owns 35,042 shares of the company’s stock, valued at approximately $1,554,112.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Several hedge funds and institutional investors have made changes to their positions in the company. Davis Rea LTD. increased its position 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 during the last quarter. BHF Kleinwort Benson Group S.A. purchased a new position in Citigroup during the fourth quarter valued at about $1,211,000. Whalerock Point Partners LLC increased its position in Citigroup by 17.1% in the fourth quarter. Whalerock Point Partners LLC now owns 24,327 shares of the financial services provider’s stock valued at $1,258,000 after buying an additional 3,560 shares in the last quarter. Deimos Asset Management LLC purchased a new position in Citigroup during the fourth quarter valued at about $1,283,000. Finally, Investors Capital Advisory Services increased its position in Citigroup by 4.2% in the fourth quarter. Investors Capital Advisory Services now owns 24,956 shares of the financial services provider’s stock valued at $1,290,000 after buying an additional 1,002 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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