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 trading hands.
C has been the topic of a number of analyst reports. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $53.00 target price (up previously from $52.00) on shares of Citigroup in a research note on Tuesday, April 19th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Citigroup in a research note on Sunday, April 17th. Evercore ISI reaffirmed a “buy” rating on shares of Citigroup in a research note on Monday, May 16th. Vetr cut Citigroup from a “strong-buy” rating to a “buy” rating and set a $52.64 target price on the stock. in a research note on Tuesday, April 26th. Finally, Buckingham Research reaffirmed a “buy” rating on shares of Citigroup in a research note on Tuesday, June 21st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $56.01.
The firm has a market cap of $132.83 billion and a PE ratio of 9.68. The company’s 50 day moving average price is $43.04 and its 200-day moving average price is $42.81.
Citigroup (NYSE:C) last issued its earnings results on Friday, July 15th. The financial services provider reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.14. The firm had revenue of $17.55 billion for the quarter, compared to analyst estimates of $17.47 billion. During the same quarter in the previous year, the firm posted $1.45 EPS. The business’s revenue for the quarter was down 9.9% on a year-over-year basis. On average, equities analysts predict that Citigroup Inc. will post $4.62 earnings per share for the current fiscal year.
The company also recently announced 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. The ex-dividend date of this dividend is Thursday, July 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.40%. This is a boost from Citigroup’s previous quarterly dividend of $0.05.
In related news, insider Joseph Michael Murray sold 8,122 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 35,042 shares in the company, valued at $1,554,112.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
A number of institutional investors recently added to or reduced their stakes in C. Davis Rea LTD. increased its position in 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. increased its position in 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 increased its position in 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 increased its position in 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, Deimos Asset Management LLC bought a new position in Citigroup during the fourth quarter valued at about $1,283,000.
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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