Traders Buy Shares of Citigroup Inc. (C) on Weakness
Investors bought shares of Citigroup Inc. (NYSE:C) on weakness during trading on Tuesday. $116.82 million flowed into the stock on the tick-up and $74.84 million flowed out of the stock on the tick-down, for a money net flow of $41.98 million into the stock. Of all equities tracked, Citigroup had the 9th highest net in-flow for the day. Citigroup traded down ($0.05) for the day and closed at $46.54
A number of brokerages recently issued reports on C. Credit Suisse Group AG reiterated a “buy” rating on shares of Citigroup in a report on Saturday, July 9th. Jefferies Group restated a “buy” rating on shares of Citigroup in a report on Sunday, July 10th. Deutsche Bank AG restated a “hold” rating on shares of Citigroup in a report on Sunday, June 26th. Vetr cut shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $47.21 price target for the company. in a report on Monday, July 11th. Finally, Barclays PLC restated a “buy” rating on shares of Citigroup in a report on Monday, July 18th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $55.24.
The firm has a market cap of $135.22 billion, a PE ratio of 9.85 and a beta of 1.90. The stock’s 50-day moving average price is $46.49 and its 200 day moving average price is $44.42.
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, beating the Zacks’ consensus estimate of $1.10 by $0.14. The firm earned $17.55 billion during the quarter, compared to the consensus estimate of $17.47 billion. Citigroup had a net margin of 17.97% and a return on equity of 7.24%. The business’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.45 EPS. Equities analysts predict that Citigroup Inc. will post $4.62 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Monday, August 1st were given a $0.16 dividend. The ex-dividend date of this dividend was Thursday, July 28th. 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 1.38%. Citigroup’s payout ratio is presently 13.59%.
In other news, insider Joseph Michael Murray sold 8,122 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 35,042 shares in the company, valued at approximately $1,554,112.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the stock. Cedar Wealth Management LLC boosted its position in Citigroup by 57.1% in the second quarter. Cedar Wealth Management LLC now owns 2,613 shares of the financial services provider’s stock worth $111,000 after buying an additional 950 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new position in Citigroup during the second quarter worth about $116,000. RPg Family Wealth Advisory LLC boosted its position in Citigroup by 95.1% in the first quarter. RPg Family Wealth Advisory LLC now owns 2,926 shares of the financial services provider’s stock worth $122,000 after buying an additional 1,426 shares in the last quarter. First Personal Financial Services boosted its position in Citigroup by 160.3% in the second quarter. First Personal Financial Services now owns 3,361 shares of the financial services provider’s stock worth $143,000 after buying an additional 2,070 shares in the last quarter. Finally, Feltz Wealth PLAN Inc. bought a new position in Citigroup during the second quarter worth about $155,000. Institutional investors own 71.70% of the company’s stock.
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.
Receive News & Ratings for Citigroup Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citigroup Inc. and related companies with MarketBeat.com's FREE daily email newsletter.