Traders Buy Shares of Citigroup Inc. (C) on Weakness
Investors purchased shares of Citigroup Inc. (NYSE:C) on weakness during trading hours on Friday. $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 3rd highest net in-flow for the day. Citigroup traded down ($0.38) for the day and closed at $47.36
C has been the topic of a number of research analyst reports. Vetr upgraded shares of Citigroup from a “sell” rating to a “hold” rating and set a $46.20 target price on the stock in a research report on Monday. TheStreet upgraded shares of Citigroup from a “hold” rating to a “buy” rating in a research report on Tuesday, August 23rd. Sanford C. Bernstein restated an “outperform” rating on shares of Citigroup in a research report on Tuesday, August 16th. Deutsche Bank AG restated a “hold” rating on shares of Citigroup in a research report on Saturday, June 4th. Finally, Barclays PLC restated a “buy” rating on shares of Citigroup in a research report on Monday, July 18th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $55.48.
The stock has a market cap of $138.03 billion and a price-to-earnings ratio of 10.06. The firm 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 analysts’ consensus estimates of $1.10 by $0.14. The business earned $17.55 billion during the quarter, compared to analysts’ expectations of $17.47 billion. The business’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.45 EPS. On average, equities research analysts forecast that Citigroup Inc. will post $4.63 earnings per share for the current fiscal year.
The company also recently declared 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 an increase from Citigroup’s previous quarterly dividend of $0.05. This represents a $0.64 annualized dividend and a yield of 1.35%. The ex-dividend date was Thursday, July 28th.
In other Citigroup news, insider Joseph Michael Murray sold 8,122 shares of Citigroup stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $44.35, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
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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