Traders Buy Citigroup Inc. (C) on Weakness
Investors purchased shares of Citigroup Inc. (NYSE:C) on weakness during trading on Tuesday. $126.54 million flowed into the stock on the tick-up and $79.00 million flowed out of the stock on the tick-down, for a money net flow of $47.54 million into the stock. Of all equities tracked, Citigroup had the 8th highest net in-flow for the day. Citigroup traded down ($0.06) for the day and closed at $45.90
C has been the subject of a number of recent research reports. Deutsche Bank AG reissued a “hold” rating on shares of Citigroup in a research report on Tuesday, April 12th. Credit Suisse Group AG reissued a “buy” rating on shares of Citigroup in a research report on Sunday, April 17th. Keefe, Bruyette & Woods cut shares of Citigroup from an “outperform” rating to a “market perform” rating and set a $51.00 target price for the company. in a research report on Monday, April 18th. BMO Capital Markets reissued an “outperform” rating and issued a $63.00 target price (up previously from $61.00) on shares of Citigroup in a research report on Monday, April 18th. Finally, Morgan Stanley reissued a “hold” rating and issued a $50.00 target price on shares of Citigroup in a research report on Tuesday, April 19th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and sixteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $55.96.
The company has a market capitalization of $133.36 billion and a price-to-earnings ratio of 9.71. The company’s 50 day moving average price is $43.22 and its 200-day moving average price is $42.91.
Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.14. The company earned $17.55 billion during the quarter, compared to analysts’ expectations of $17.47 billion. During the same period last year, the firm earned $1.45 earnings per share. Citigroup’s revenue for the quarter was down 9.9% on a year-over-year basis. On average, equities research analysts anticipate that Citigroup Inc. will post $4.62 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Monday, August 1st will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, July 28th. This is a boost from Citigroup’s previous quarterly dividend of $0.05. This represents a $0.64 dividend on an annualized basis and a yield of 1.39%.
In other Citigroup news, insider Joseph Michael Murray sold 8,122 shares of Citigroup 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Several large investors have modified their holdings of C. 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 in the last quarter. Jennison Associates LLC raised its stake in 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 in the last quarter. Schroder Investment Management Group raised its stake in 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 in the last quarter. Gluskin Sheff & Assoc Inc. purchased a new stake in Citigroup during the fourth quarter valued at $39,917,000. Finally, Standard Life Investments LTD raised its stake in Citigroup by 4.6% in the fourth quarter. Standard Life Investments LTD now owns 16,475,624 shares of the financial services provider’s stock valued at $852,696,000 after buying an additional 731,328 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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