Investors Buy Shares of Citigroup Inc. (C) on Weakness
Traders bought shares of Citigroup Inc. (NYSE:C) on weakness during trading on Friday. $118.92 million flowed into the stock on the tick-up and $76.10 million flowed out of the stock on the tick-down, for a money net flow of $42.82 million into the stock. Of all equities tracked, Citigroup had the 10th highest net in-flow for the day. Citigroup traded down ($0.15) for the day and closed at $45.58
A number of equities analysts have recently issued reports on C shares. Credit Suisse Group AG reissued a “buy” rating on shares of Citigroup in a research note on Sunday, April 17th. Keefe, Bruyette & Woods downgraded Citigroup from an “outperform” rating to a “market perform” rating and set a $51.00 price objective for the company. in a research note on Monday, April 18th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $63.00 price objective (up from $61.00) on shares of Citigroup in a research note on Monday, April 18th. Morgan Stanley reaffirmed a “hold” rating and issued a $50.00 price objective on shares of Citigroup in a research note on Tuesday, April 19th. Finally, Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $53.00 price objective (up from $52.00) on shares of Citigroup in a research note on Tuesday, April 19th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and sixteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $55.96.
The firm has a market cap of $132.43 billion and a price-to-earnings ratio of 9.65. The stock has a 50 day moving average price of $43.41 and a 200 day moving average price of $42.99.
Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.24 EPS for the quarter, beating the consensus estimate of $1.10 by $0.14. The company had revenue of $17.55 billion for the quarter, compared to analysts’ expectations of $17.47 billion. The company’s revenue was down 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.45 earnings per share. On average, equities research analysts predict that Citigroup Inc. will post $4.62 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Monday, August 1st will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Thursday, July 28th. This is an increase from Citigroup’s previous quarterly dividend of $0.05.
In other 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 transaction, the insider now directly owns 35,042 shares in the company, valued at approximately $1,554,112.70. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
A number of large investors have modified their holdings of C. Private Advisor Group LLC boosted its stake in shares of Citigroup by 13.8% in the fourth quarter. Private Advisor Group LLC now owns 43,560 shares of the financial services provider’s stock worth $2,254,000 after buying an additional 5,267 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co boosted its stake in shares of Citigroup by 2.6% in the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 47,780 shares of the financial services provider’s stock worth $2,472,000 after buying an additional 1,200 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in shares of Citigroup by 2.0% in the fourth quarter. Gulf International Bank UK Ltd now owns 894,154 shares of the financial services provider’s stock worth $46,272,000 after buying an additional 17,400 shares in the last quarter. 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 worth $1,121,000 after buying an additional 5,255 shares in the last quarter. Finally, Deimos Asset Management LLC acquired a new stake in shares of Citigroup during the fourth quarter worth about $1,283,000.
Citigroup Inc (Citi) is a financial services holding company. The Company’s businesses provide consumers, corporations, governments and institutions with a range of 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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