Traders Sell Shares of Citigroup Inc. (C) on Strength (C)
Investors sold shares of Citigroup Inc. (NYSE:C) on strength during trading on Wednesday. $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
C has been the topic of a number of recent research reports. Drexel Hamilton restated a “buy” rating and set a $65.00 target price on shares of Citigroup in a research note on Monday, July 18th. Vetr upgraded shares of Citigroup from a “buy” rating to a “strong-buy” rating and set a $47.21 target price on the stock in a research note on Tuesday, July 5th. TheStreet upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research note on Tuesday, August 23rd. Nomura restated a “buy” rating and set a $57.00 target price (down from $62.00) on shares of Citigroup in a research note on Monday, July 18th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Citigroup in a research note on Tuesday, August 16th. One equities research 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. Citigroup currently has an average rating of “Buy” and an average target price of $55.48.
The company’s 50 day moving average price is $45.34 and its 200-day moving average price is $43.71. The company has a market cap of $138.70 billion and a price-to-earnings ratio of 10.10.
Citigroup (NYSE:C) last released its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.14. During the same quarter in the prior year, the firm earned $1.45 EPS. The company had revenue of $17.55 billion for the quarter, compared to analyst estimates of $17.47 billion. The company’s revenue for the quarter was down 9.9% compared to the same quarter last year. On average, equities research analysts expect that Citigroup Inc. will post $4.63 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Monday, August 1st were given a dividend of $0.16 per share. This is a positive change from Citigroup’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $0.64 dividend on an annualized basis and a yield of 1.34%.
In related news, insider Joseph Michael Murray sold 8,122 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 35,042 shares in the company, valued at approximately $1,554,112.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
A number of hedge funds and institutional investors have made changes to their positions in C. American International Group Inc. raised its position 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 worth $55,509,000 after buying an additional 10,898 shares during the period. US Bancorp DE raised its position 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 period. Finally, Schwab Charles Investment Management Inc. raised its position in shares of 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 worth $559,152,000 after buying an additional 869,000 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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