Investors Sell Citigroup Inc. (C) on Strength (C)
Investors sold shares of Citigroup Inc. (NYSE:C) on strength during trading on Tuesday. $92.05 million flowed into the stock on the tick-up and $121.10 million flowed out of the stock on the tick-down, for a money net flow of $29.05 million out of the stock. Of all equities tracked, Citigroup had the 0th highest net out-flow for the day. Citigroup traded up $0.23 for the day and closed at $46.62
Several equities analysts recently issued reports on the stock. Vetr cut shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $52.64 price target on the stock. in a research report on Tuesday, April 26th. Sanford C. Bernstein reissued an “outperform” rating on shares of Citigroup in a research note on Tuesday. Goldman Sachs Group Inc. reissued a “buy” rating and set a $53.00 price objective (up previously from $52.00) on shares of Citigroup in a research note on Tuesday, April 19th. Argus reissued a “hold” rating on shares of Citigroup in a research note on Tuesday, April 19th. Finally, Deutsche Bank AG reissued a “hold” rating on shares of Citigroup in a research note on Saturday, June 4th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $55.96.
The stock has a market capitalization of $135.45 billion and a PE ratio of 9.87. The stock has a 50 day moving average price of $43.82 and a 200 day moving average price of $43.10.
Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.14. The firm earned $17.55 billion during the quarter, compared to analysts’ expectations of $17.47 billion. The firm’s quarterly revenue was down 9.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.45 EPS. Equities analysts anticipate that Citigroup Inc. will post $4.63 EPS for the current year.
The business 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 $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Thursday, July 28th. This is a positive change from Citigroup’s previous quarterly dividend of $0.05.
In related 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 value of $360,210.70. Following the completion of the sale, the insider now directly owns 35,042 shares in the company, valued at approximately $1,554,112.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Other hedge funds recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its stake in 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 during the period. Jennison Associates LLC boosted its stake in shares of 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 during the last quarter. Schroder Investment Management Group boosted its stake in shares of 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 during the last quarter. Gluskin Sheff & Assoc Inc. acquired a new stake in shares of Citigroup during the fourth quarter valued at approximately $39,917,000. Finally, Marshall Wace LLP boosted its stake in shares of Citigroup by 49.5% in the fourth quarter. Marshall Wace LLP now owns 1,854,117 shares of the financial services provider’s stock valued at $95,950,000 after buying an additional 613,683 shares during 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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