Traders Sell Citigroup Inc. (C) on Strength (C)
Traders 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 stocks 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
C has been the subject of a number of research reports. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $63.00 target price (down previously from $70.00) on shares of Citigroup in a report on Wednesday, July 6th. Vetr cut Citigroup from a “strong-buy” rating to a “buy” rating and set a $48.04 target price for the company. in a report on Monday, June 27th. Jefferies Group reiterated a “buy” rating on shares of Citigroup in a report on Monday, August 1st. Drexel Hamilton reiterated a “buy” rating and set a $65.00 target price on shares of Citigroup in a report on Monday, July 18th. Finally, Wells Fargo & Co. cut Citigroup from an “outperform” rating to a “market perform” rating in a report on Friday, July 8th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $55.49.
The company has a 50-day moving average price of $44.91 and a 200 day moving average price of $43.43. The company has a market capitalization of $136.87 billion and a PE ratio of 9.97.
Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.14. The company had revenue of $17.55 billion for the quarter, compared to analyst estimates of $17.47 billion. The business’s revenue was down 9.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.45 EPS. Analysts anticipate that Citigroup Inc. will post $4.63 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Monday, August 1st were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.36%. This is a boost from Citigroup’s previous quarterly dividend of $0.05. The ex-dividend date was Thursday, July 28th.
In other news, insider Joseph Michael Murray sold 8,122 shares of the stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $44.35, for a total transaction of $360,210.70. Following the transaction, the insider now owns 35,042 shares of the company’s stock, valued at approximately $1,554,112.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Other hedge funds have added to or reduced their stakes in the company. US Bancorp DE raised its stake in 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 period. I.G. Investment Management LTD. raised its stake in 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 period. Jennison Associates LLC raised its stake in 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 period. Ashburton Jersey Ltd acquired a new stake in Citigroup during the fourth quarter worth about $14,248,000. Finally, State of Tennessee Treasury Department raised its stake in Citigroup by 3.7% in the fourth quarter. State of Tennessee Treasury Department now owns 3,153,916 shares of the financial services provider’s stock worth $163,216,000 after buying an additional 112,692 shares during the period.
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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