Citigroup Inc. (C) Shares Gap Up to $45.58
Shares of Citigroup Inc. (NYSE:C) gapped up before the market opened on Monday . The stock had previously closed at $45.36, but opened at $45.58. Citigroup shares last traded at $46.24, with a volume of 5,801,509 shares traded.
C has been the subject of a number of research reports. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $63.00 target price (down previously from $70.00) on shares of Citigroup in a research note on Wednesday, July 6th. Vetr lowered shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $48.04 price target on the stock. in a research report on Monday, June 27th. Jefferies Group restated a “buy” rating on shares of Citigroup in a research report on Monday, August 1st. Drexel Hamilton restated a “buy” rating and set a $65.00 price target on shares of Citigroup in a research report on Monday, July 18th. Finally, Wells Fargo & Co. lowered shares of Citigroup from an “outperform” rating to a “market perform” rating in a research report on Friday, July 8th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and sixteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $55.96.
The stock’s 50-day moving average is $43.59 and its 200 day moving average is $43.07. The company has a market capitalization of $134.78 billion and a price-to-earnings ratio of 9.82.
Citigroup (NYSE:C) last released its earnings results on Friday, July 15th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.14. The company earned $17.55 billion during the quarter, compared to analyst estimates of $17.47 billion. During the same period in the prior year, the business posted $1.45 earnings per share. Citigroup’s revenue was down 9.9% on a year-over-year basis. On average, equities analysts expect that Citigroup Inc. will post $4.62 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Shareholders 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 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 1.38%.
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 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 of the company’s stock, valued at $1,554,112.70. The sale was disclosed in a filing with the SEC, which is available at this link.
A number of hedge funds and institutional investors have made changes to their positions in the stock. Atlantic Trust Group LLC boosted its position in shares of Citigroup by 2.1% in the fourth quarter. Atlantic Trust Group LLC now owns 1,827,003 shares of the financial services provider’s stock worth $94,548,000 after buying an additional 38,093 shares during the period. Andra AP fonden raised its stake in Citigroup by 0.4% in the fourth quarter. Andra AP fonden now owns 180,000 shares of the financial services provider’s stock worth $9,315,000 after buying an additional 800 shares in the last quarter. MUFG Americas Holdings Corp raised its stake in Citigroup by 25.5% in the fourth quarter. MUFG Americas Holdings Corp now owns 182,633 shares of the financial services provider’s stock worth $9,451,000 after buying an additional 37,121 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Citigroup by 4.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 70,053 shares of the financial services provider’s stock worth $3,625,000 after buying an additional 3,141 shares in the last quarter. Finally, 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 worth $518,691,000 after buying an additional 1,118,933 shares in the last quarter.
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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