Investors Buy Citigroup Inc. (C) on Weakness
Investors purchased 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 equities 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 brokerages have commented on C. Vetr downgraded shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $47.21 target price for the company. in a research note on Monday, July 11th. Deutsche Bank AG reiterated a “hold” rating on shares of Citigroup in a report on Wednesday, June 15th. Jefferies Group reiterated a “buy” rating on shares of Citigroup in a report on Monday, August 1st. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $63.00 price target (down previously from $70.00) on shares of Citigroup in a report on Wednesday, July 6th. Finally, Berenberg Bank began coverage on shares of Citigroup in a report on Wednesday, July 13th. They issued a “buy” rating and a $50.00 price target for the company. 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. Citigroup has a consensus rating of “Buy” and an average price target of $55.48.
The stock has a market cap of $138.03 billion and a PE ratio of 10.06. The stock has a 50 day moving average price of $45.53 and a 200 day moving average price of $43.76.
Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.14. The firm had revenue of $17.55 billion for the quarter, compared to analysts’ expectations of $17.47 billion. During the same period in the prior year, the firm earned $1.45 earnings per share. Citigroup’s revenue was down 9.9% compared to the same quarter last year. Analysts predict that Citigroup Inc. will post $4.63 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Monday, August 1st were issued a dividend of $0.16 per share. This is a boost from Citigroup’s previous quarterly dividend of $0.05. This represents a $0.64 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend was Thursday, July 28th.
In related news, insider Joseph Michael Murray sold 8,122 shares of the business’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $44.35, for a total value of $360,210.70. Following the transaction, 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 Securities & Exchange Commission, which is available through this link.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.