Investors Sell Citigroup Inc. (C) on Strength (C)
Investors sold shares of Citigroup Inc. (NYSE:C) on strength during trading 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 stocks 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 topic of several recent analyst reports. Vetr raised shares of Citigroup from a “buy” rating to a “strong-buy” rating and set a $52.64 price objective on the stock in a research note on Monday, May 2nd. Evercore ISI reissued a “buy” rating on shares of Citigroup in a research note on Monday, May 16th. Zacks Investment Research raised shares of Citigroup from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 18th. Deutsche Bank AG reissued a “hold” rating on shares of Citigroup in a research note on Saturday, June 4th. Finally, Buckingham Research reissued a “buy” rating on shares of Citigroup in a research note on Tuesday, June 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $55.49.
The company has a market capitalization of $136.87 billion and a price-to-earnings ratio of 9.97. The company’s 50-day moving average price is $44.91 and its 200-day moving average price is $43.43.
Citigroup (NYSE:C) last released its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.14. The company earned $17.55 billion during the quarter, compared to analysts’ expectations of $17.47 billion. During the same period in the previous year, the company posted $1.45 earnings per share. The company’s quarterly revenue was down 9.9% compared to the same quarter last year. On average, analysts expect that Citigroup Inc. will post $4.63 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Monday, August 1st were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.36%. This is an increase 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 firm’s stock in a transaction on Wednesday, July 20th. The stock was 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Several large investors have made changes to their positions in C. 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 valued at $3,487,000 after buying an additional 4,227 shares in the last quarter. Calvert Investment Management Inc. raised its stake in shares of 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 in the last quarter. US Bancorp DE raised 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 valued at $45,505,000 after buying an additional 69,736 shares in the last quarter. American International Group Inc. raised its stake in shares of Citigroup by 1.0% in the fourth quarter. American International Group Inc. now owns 1,072,645 shares of the financial services provider’s stock valued at $55,509,000 after buying an additional 10,898 shares in the last quarter. Finally, State of Tennessee Treasury Department raised its stake in shares of 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 valued at $163,216,000 after buying an additional 112,692 shares in 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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