Traders Sell Shares of Citigroup Inc. (C) on Strength (C)
Traders sold shares of Citigroup Inc. (NYSE:C) on strength during trading on Monday. $71.49 million flowed into the stock on the tick-up and $89.60 million flowed out of the stock on the tick-down, for a money net flow of $18.11 million out of the stock. Of all companies tracked, Citigroup had the 0th highest net out-flow for the day. Citigroup traded up $0.13 for the day and closed at $46.66
A number of research firms have weighed in on C. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $63.00 price objective (down previously from $70.00) on shares of Citigroup in a research note on Wednesday, July 6th. Zacks Investment Research lowered Citigroup from a “hold” rating to a “sell” rating in a research note on Tuesday, June 21st. Jefferies Group reissued a “buy” rating on shares of Citigroup in a research note on Monday, August 1st. Vetr lowered Citigroup from a “strong-buy” rating to a “buy” rating and set a $48.04 price objective on the stock. in a research note on Tuesday, June 21st. Finally, Wells Fargo & Co. lowered Citigroup from an “outperform” rating to a “market perform” rating in a research note on Friday, July 8th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have assigned a buy rating to the stock. Citigroup has an average rating of “Buy” and an average target price of $55.49.
The firm has a market capitalization of $135.56 billion and a price-to-earnings ratio of 9.88. The stock has a 50-day moving average of $44.37 and a 200-day moving average of $43.26.
Citigroup (NYSE:C) last issued its earnings results on Friday, July 15th. The financial services provider reported $1.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.14. The firm earned $17.55 billion during the quarter, compared to analyst estimates of $17.47 billion. During the same quarter in the previous year, the business posted $1.45 EPS. Citigroup’s revenue was down 9.9% compared to the same quarter last year. Equities analysts predict that Citigroup Inc. will post $4.63 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Investors of record on Monday, August 1st will be issued 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 an increase 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 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 owns 35,042 shares in the company, valued at $1,554,112.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
A number of hedge funds and institutional investors recently added to or reduced their stakes in the stock. Whalerock Point Partners LLC raised its position in Citigroup by 17.1% in the fourth quarter. Whalerock Point Partners LLC now owns 24,327 shares of the financial services provider’s stock valued at $1,258,000 after buying an additional 3,560 shares during the period. Parsons Capital Management Inc. RI raised 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 worth $2,411,000 after buying an additional 865 shares during the last quarter. Oarsman Capital Inc. raised its stake in shares of Citigroup by 6.7% in the fourth quarter. Oarsman Capital Inc. now owns 67,386 shares of the financial services provider’s stock worth $3,487,000 after buying an additional 4,227 shares during the last quarter. Andra AP fonden raised 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 worth $9,315,000 after buying an additional 800 shares during the last quarter. Finally, Suntrust Banks Inc. raised its stake in shares of Citigroup by 31.0% in the fourth quarter. Suntrust Banks Inc. now owns 205,255 shares of the financial services provider’s stock worth $10,620,000 after buying an additional 48,529 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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