Traders Buy Citigroup Inc. (C) on Weakness
Investors bought shares of Citigroup Inc. (NYSE:C) on weakness during trading hours on Thursday. $115.65 million flowed into the stock on the tick-up and $86.87 million flowed out of the stock on the tick-down, for a money net flow of $28.78 million into the stock. Of all companies tracked, Citigroup had the 15th highest net in-flow for the day. Citigroup traded down ($0.34) for the day and closed at $44.13
Several research analysts recently commented on the stock. Vetr cut shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $47.21 target price for the company. in a report on Monday, July 11th. Deutsche Bank AG restated a “hold” rating on shares of Citigroup in a report on Wednesday, June 15th. Keefe, Bruyette & Woods lowered shares of Citigroup from an “outperform” rating to a “market perform” rating and set a $51.00 price target on the stock. in a research report on Monday, April 18th. Jefferies Group reaffirmed a “buy” rating on shares of Citigroup in a research report on Sunday, July 10th. Finally, Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $63.00 price target (down from $70.00) on shares of Citigroup in a research report on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eighteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $56.30.
The stock has a market capitalization of $128.71 billion and a PE ratio of 9.38. The stock has a 50-day moving average of $43.04 and a 200-day moving average of $42.99.
Citigroup (NYSE:C) last issued its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.14. The business earned $17.55 billion during the quarter, compared to analysts’ expectations of $17.47 billion. The company’s revenue was down 9.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.45 earnings per share. Equities research analysts forecast that Citigroup Inc. will post $4.60 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Investors of record on Monday, August 1st will be given a $0.16 dividend. This is a boost from Citigroup’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Thursday, July 28th. This represents a $0.64 annualized dividend and a yield of 1.44%.
In related news, insider Joseph Michael Murray sold 8,122 shares of the stock in a transaction that occurred on Wednesday, July 20th. The stock was 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 $1,554,112.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Several hedge funds and institutional investors have recently added to or reduced their stakes in the company. Davis Rea LTD. raised 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 valued at $1,121,000 after buying an additional 5,255 shares in the last quarter. BHF Kleinwort Benson Group S.A. purchased a new position in Citigroup during the fourth quarter valued at approximately $1,211,000. New Jersey Better Educational Savings Trust raised 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 valued at $1,242,000 after buying an additional 2,000 shares in the last quarter. Whalerock Point Partners LLC raised 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 valued at $1,258,000 after buying an additional 3,560 shares in the last quarter. Finally, Deimos Asset Management LLC purchased a new position in Citigroup during the fourth quarter valued at approximately $1,283,000.
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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