Investors Sell Citigroup Inc. (C) on Strength (C)
Traders sold shares of Citigroup Inc. (NYSE:C) on strength during trading hours on Tuesday. $120.05 million flowed into the stock on the tick-up and $141.47 million flowed out of the stock on the tick-down, for a money net flow of $21.42 million out of the stock. Of all stocks tracked, Citigroup had the 0th highest net out-flow for the day. Citigroup traded up $0.64 for the day and closed at $47.90
A number of analysts have weighed in on C shares. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $63.00 price target (down previously from $70.00) on shares of Citigroup in a research report on Wednesday, July 6th. Vetr cut Citigroup from a “strong-buy” rating to a “buy” rating and set a $48.04 price objective for the company. in a research report on Monday, June 27th. Jefferies Group reissued a “buy” rating on shares of Citigroup in a research report on Monday, August 1st. Drexel Hamilton reissued a “buy” rating and set a $65.00 price objective on shares of Citigroup in a research report on Monday, July 18th. Finally, Wells Fargo & Co. cut Citigroup from an “outperform” rating to a “market perform” rating in a research report on Friday, July 8th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $55.48.
The company has a 50 day moving average of $45.22 and a 200 day moving average of $43.68. The firm has a market cap of $139.17 billion and a price-to-earnings ratio of 10.14.
Citigroup (NYSE:C) last posted its earnings results on Friday, July 15th. The financial services provider reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.14. The company had revenue of $17.55 billion for the quarter, compared to the consensus estimate of $17.47 billion. During the same period in the previous year, the firm posted $1.45 EPS. The business’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 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Monday, August 1st were paid a $0.16 dividend. The ex-dividend date was Thursday, July 28th. This is an increase from Citigroup’s previous quarterly dividend of $0.05. This represents a $0.64 annualized dividend and a dividend yield of 1.34%.
In related news, insider Joseph Michael Murray sold 8,122 shares of the business’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $44.35, for a total value of $360,210.70. Following the sale, the insider now owns 35,042 shares of the company’s stock, valued at $1,554,112.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
A number of institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. raised its position 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 last quarter. American International Group Inc. raised its position in 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 during the last quarter. State of Tennessee Treasury Department raised its position 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 valued at $163,216,000 after buying an additional 112,692 shares during the last quarter. Finally, US Bancorp DE raised its position in 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 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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