Investors Buy Shares of Citigroup Inc. (C) on Weakness
Traders bought shares of Citigroup Inc. (NYSE:C) on weakness during trading on Friday. $274.76 million flowed into the stock on the tick-up and $193.08 million flowed out of the stock on the tick-down, for a money net flow of $81.68 million into the stock. Of all stocks tracked, Citigroup had the 17th highest net in-flow for the day. Citigroup traded down ($0.12) for the day and closed at $44.33
A number of equities research analysts have weighed in on C shares. Vetr downgraded Citigroup from a “strong-buy” rating to a “buy” rating and set a $52.64 target price for the company. in a report on Tuesday, April 26th. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $53.00 target price (up from $52.00) on shares of Citigroup in a report on Tuesday, April 19th. Argus reiterated a “hold” rating on shares of Citigroup in a report on Tuesday, April 19th. Deutsche Bank AG reissued a “hold” rating on shares of Citigroup in a research note on Saturday, June 4th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $63.00 price objective (up previously from $61.00) on shares of Citigroup in a research note on Monday, April 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $56.16.
The firm has a market cap of $130.11 billion and a price-to-earnings ratio of 8.86. The firm has a 50-day moving average price of $43.28 and a 200 day moving average price of $43.20.
Citigroup (NYSE:C) last issued its earnings results on Friday, July 15th. The financial services provider reported $1.24 EPS for the quarter, beating the consensus estimate of $1.10 by $0.14. During the same quarter in the prior year, the business posted $1.45 earnings per share. The business had revenue of $17.55 billion for the quarter, compared to analysts’ expectations of $17.47 billion. The business’s revenue for the quarter was down 9.9% on a year-over-year basis. Equities research analysts predict that Citigroup Inc. will post $4.52 earnings per share for the current fiscal year.
In other Citigroup news, insider W. Bradford Hu sold 9,528 shares of the stock in a transaction on Wednesday, April 20th. The stock was sold at an average price of $45.83, for a total transaction of $436,668.24. Following the sale, the insider now directly owns 53,282 shares in the company, valued at approximately $2,441,914.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Several institutional investors have recently added to or reduced their stakes in C. Davis Rea LTD. increased its position in Citigroup by 32.0% in the fourth quarter. Davis Rea LTD. now owns 21,670 shares of the financial services provider’s stock worth $1,121,000 after buying an additional 5,255 shares during the period. BHF Kleinwort Benson Group S.A. purchased a new position in Citigroup during the fourth quarter worth about $1,211,000. New Jersey Better Educational Savings Trust increased its position in Citigroup by 9.1% in the fourth quarter. New Jersey Better Educational Savings Trust now owns 24,000 shares of the financial services provider’s stock worth $1,242,000 after buying an additional 2,000 shares during the period. Whalerock Point Partners LLC increased its position in Citigroup by 17.1% in the fourth quarter. Whalerock Point Partners LLC now owns 24,327 shares of the financial services provider’s stock worth $1,258,000 after buying an additional 3,560 shares during the period. Finally, Carret Asset Management LLC increased its position in Citigroup by 6.4% in the fourth quarter. Carret Asset Management LLC now owns 24,784 shares of the financial services provider’s stock worth $1,283,000 after buying an additional 1,491 shares during the period.
Citigroup Inc (Citi) is a financial services holding company, whose businesses provide consumers, corporations, governments and institutions with 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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