Traders Buy Shares of Citigroup Inc. (C) on Weakness
Investors bought shares of Citigroup Inc. (NYSE:C) on weakness during trading on Monday. $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 companies 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
C has been the subject of several analyst reports. Argus reissued a “hold” rating on shares of Citigroup in a research report on Tuesday, April 19th. Drexel Hamilton reissued a “buy” rating and set a $65.00 price target on shares of Citigroup in a research report on Monday, July 18th. Vetr raised shares of Citigroup from a “buy” rating to a “strong-buy” rating and set a $47.21 price target for the company in a research report on Tuesday, July 5th. Nomura reissued a “buy” rating and set a $57.00 price target (down from $62.00) on shares of Citigroup in a research report on Monday, July 18th. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of Citigroup in a research report on Saturday, July 9th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and sixteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $55.96.
The stock has a market capitalization of $135.22 billion and a P/E ratio of 9.85. The firm’s 50-day moving average is $43.59 and its 200-day moving average is $43.07.
Citigroup (NYSE:C) last posted its 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 firm had revenue of $17.55 billion for the quarter, compared to analysts’ expectations of $17.47 billion. The firm’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.45 earnings per share. On average, analysts anticipate that Citigroup Inc. will post $4.62 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Monday, August 1st will be given a $0.16 dividend. The ex-dividend date of this dividend is Thursday, July 28th. This represents a $0.64 annualized dividend and a dividend yield of 1.38%. This is a boost from Citigroup’s previous quarterly dividend of $0.05.
In other news, insider Joseph Michael Murray sold 8,122 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 35,042 shares in the company, valued at $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 recently modified their holdings of the stock. MRJ Capital Inc. increased its stake in shares of Citigroup by 0.5% in the fourth quarter. MRJ Capital Inc. now owns 39,600 shares of the financial services provider’s stock valued at $2,049,000 after buying an additional 200 shares in the last quarter. Alerus Investment Advisors Corp increased its stake in shares of Citigroup by 0.8% in the fourth quarter. Alerus Investment Advisors Corp now owns 71,467 shares of the financial services provider’s stock valued at $3,699,000 after buying an additional 586 shares in the last quarter. Courier Capital Corp increased its stake in shares of 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. Andra AP fonden increased its stake in shares of Citigroup by 0.4% in the fourth quarter. Andra AP fonden now owns 180,000 shares of the financial services provider’s stock valued at $9,315,000 after buying an additional 800 shares in the last quarter. Finally, Parsons Capital Management Inc. RI increased its stake in shares of Citigroup by 1.9% in the fourth quarter. Parsons Capital Management Inc. RI now owns 46,592 shares of the financial services provider’s stock valued at $2,411,000 after buying an additional 865 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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