Investors Buy Shares of Citigroup Inc. (C) on Weakness
Investors bought shares of Citigroup Inc. (NYSE:C) on weakness during trading hours on Thursday. $193.03 million flowed into the stock on the tick-up and $124.21 million flowed out of the stock on the tick-down, for a money net flow of $68.82 million into the stock. Of all stocks tracked, Citigroup had the 15th highest net in-flow for the day. Citigroup traded down ($0.38) for the day and closed at $47.36
Several equities analysts have weighed in on the company. Credit Suisse Group AG restated a “buy” rating on shares of Citigroup in a research note on Saturday, July 9th. Deutsche Bank AG restated a “hold” rating on shares of Citigroup in a research note on Sunday, June 26th. Jefferies Group restated a “buy” rating on shares of Citigroup in a research note on Sunday, July 10th. Vetr upgraded Citigroup from a “sell” rating to a “hold” rating and set a $46.20 price objective on the stock in a research note on Tuesday. Finally, Evercore ISI restated a “buy” rating on shares of Citigroup in a research note on Monday, May 16th. One 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’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $55.48.
The company has a market capitalization of $137.60 billion and a PE ratio of 10.02. The firm’s 50 day moving average is $45.45 and its 200 day moving average is $43.73.
Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.24 EPS for the quarter, topping the consensus estimate of $1.10 by $0.14. During the same period last year, the business earned $1.45 EPS. The company earned $17.55 billion during the quarter, compared to the consensus estimate of $17.47 billion. The firm’s quarterly revenue was down 9.9% compared to the same quarter last year. Analysts forecast that Citigroup Inc. will post $4.63 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Monday, August 1st were paid a $0.16 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.05. This represents a $0.64 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Thursday, July 28th.
In other news, insider Joseph Michael Murray sold 8,122 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $44.35, for a total value of $360,210.70. Following the transaction, the insider now owns 35,042 shares of the company’s stock, valued at $1,554,112.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
An institutional investor recently raised its position in Citigroup stock. US Bancorp DE increased its stake in Citigroup Inc. (NYSE:C) by 8.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 879,310 shares of the financial services provider’s stock after buying an additional 69,736 shares during the period. US Bancorp DE’s holdings in Citigroup were worth $45,505,000 as of its most recent SEC filing.
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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