Traders Sell Shares of Citigroup Inc. (C) on Strength (C)
Traders sold shares of Citigroup Inc. (NYSE:C) on strength during trading hours on Friday. $144.22 million flowed into the stock on the tick-up and $189.60 million flowed out of the stock on the tick-down, for a money net flow of $45.38 million out of the stock. Of all companies tracked, Citigroup had the 0th highest net out-flow for the day. Citigroup traded up $0.39 for the day and closed at $47.11
C has been the subject of a number of research reports. Deutsche Bank AG reiterated a “hold” rating on shares of Citigroup in a report on Sunday, June 26th. Credit Suisse Group AG reiterated a “buy” rating on shares of Citigroup in a report on Saturday, July 9th. Jefferies Group reiterated a “buy” rating on shares of Citigroup in a report on Sunday, July 10th. Vetr upgraded Citigroup from a “buy” rating to a “strong-buy” rating and set a $47.21 price target for the company in a report on Tuesday, July 5th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $66.00 price target (up previously from $63.00) on shares of Citigroup in a report on Monday, July 18th. 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’s stock. The stock has an average rating of “Buy” and an average target price of $55.49.
The company has a market cap of $136.87 billion and a P/E ratio of 9.97. The firm has a 50 day moving average of $44.91 and a 200 day moving average of $43.43.
Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.14. The business earned $17.55 billion during the quarter, compared to analyst estimates of $17.47 billion. During the same quarter last year, the firm earned $1.45 EPS. The business’s revenue was down 9.9% on a year-over-year basis. On average, analysts anticipate that Citigroup Inc. will post $4.63 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Monday, August 1st were paid a $0.16 dividend. The ex-dividend date was Thursday, July 28th. This represents a $0.64 annualized dividend and a dividend yield of 1.36%. This is an increase from Citigroup’s previous quarterly dividend of $0.05.
In other news, insider Joseph Michael Murray sold 8,122 shares of Citigroup 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 completion of the sale, 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 available through the SEC website.
Other large investors have recently added to or reduced their stakes in the company. Jennison Associates LLC boosted 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 valued at $759,820,000 after buying an additional 5,533,946 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Citigroup by 8.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 10,804,860 shares of the financial services provider’s stock valued at $559,152,000 after buying an additional 869,000 shares during the period. BlackRock Advisors LLC boosted its stake in Citigroup by 1.6% in the fourth quarter. BlackRock Advisors LLC now owns 29,497,830 shares of the financial services provider’s stock valued at $1,526,513,000 after buying an additional 458,911 shares during the period. Ashburton Jersey Ltd purchased a new stake in Citigroup during the fourth quarter valued at about $14,248,000. Finally, Calvert Investment Management Inc. boosted its stake in Citigroup by 73.7% in the fourth quarter. Calvert Investment Management Inc. now owns 268,444 shares of the financial services provider’s stock valued at $13,892,000 after buying an additional 113,855 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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