Investors Sell Shares of Citigroup Inc. (C) on Strength (C)
Investors sold shares of Citigroup Inc. (NYSE:C) on strength during trading hours on Thursday. $92.80 million flowed into the stock on the tick-up and $129.50 million flowed out of the stock on the tick-down, for a money net flow of $36.70 million out of the stock. Of all companies tracked, Citigroup had the 0th highest net out-flow for the day. Citigroup traded up $0.06 for the day and closed at $46.72
A number of research analysts have issued reports on the stock. TheStreet raised shares of Citigroup from a “hold” rating to a “buy” rating in a report on Tuesday. Sanford C. Bernstein reiterated an “outperform” rating on shares of Citigroup in a research note on Tuesday, August 16th. Vetr lowered shares of Citigroup from a “buy” rating to a “hold” rating and set a $46.29 price objective on the stock. in a research note on Monday, August 8th. Jefferies Group reiterated a “buy” rating on shares of Citigroup in a research note on Monday, August 1st. Finally, Zacks Investment Research upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Thursday, July 21st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $55.49.
The company has a 50-day moving average price of $44.75 and a 200 day moving average price of $43.36. The stock has a market cap of $135.74 billion and a P/E ratio of 9.89.
Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.14. During the same period last year, the company earned $1.45 earnings per share. The company had revenue of $17.55 billion for the quarter, compared to analyst estimates of $17.47 billion. The business’s revenue for the quarter was down 9.9% compared to the same quarter last year. On average, analysts predict that Citigroup Inc. will post $4.63 EPS for the current fiscal 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 paid a dividend of $0.16 per share. The ex-dividend date 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 dividend yield of 1.37%.
In other news, insider Joseph Michael Murray sold 8,122 shares of the company’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 of the company’s stock, valued at approximately $1,554,112.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
A number of large investors have modified their holdings of the stock. US Bancorp DE boosted its stake in shares of Citigroup by 8.6% in the fourth quarter. US Bancorp DE now owns 879,310 shares of the financial services provider’s stock worth $45,505,000 after buying an additional 69,736 shares during the last quarter. I.G. Investment Management LTD. boosted its stake in shares of Citigroup by 1.0% in the fourth quarter. I.G. Investment Management LTD. now owns 3,175,899 shares of the financial services provider’s stock worth $164,353,000 after buying an additional 30,469 shares during the last quarter. 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 worth $759,820,000 after buying an additional 5,533,946 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of 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 last quarter. Finally, Gluskin Sheff & Assoc Inc. acquired a new stake in shares of Citigroup during the fourth quarter worth approximately $39,917,000.
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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