Investors Sell Citigroup Inc. (C) on Strength (C)
Traders sold shares of Citigroup Inc. (NYSE:C) on strength during trading hours on Wednesday. $115.08 million flowed into the stock on the tick-up and $145.11 million flowed out of the stock on the tick-down, for a money net flow of $30.03 million out of the stock. Of all companies tracked, Citigroup had the 0th highest net out-flow for the day. Citigroup traded up $0.14 for the day and closed at $44.29
Several research firms recently commented on C. Zacks Investment Research upgraded Citigroup from a “sell” rating to a “hold” rating in a report on Thursday, July 21st. Barclays PLC reissued a “buy” rating on shares of Citigroup in a research report on Monday, July 18th. BMO Capital Markets reissued a “buy” rating and issued a $66.00 target price (up from $63.00) on shares of Citigroup in a research report on Monday, July 18th. Nomura reissued a “buy” rating and issued a $57.00 target price (down from $62.00) on shares of Citigroup in a research report on Monday, July 18th. Finally, Argus reissued a “hold” rating on shares of Citigroup in a research report on Monday, July 18th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $56.01.
The firm has a 50 day moving average of $42.92 and a 200 day moving average of $42.85. The stock has a market capitalization of $128.22 billion and a price-to-earnings ratio of 9.34.
Citigroup (NYSE:C) last released its earnings results on Friday, July 15th. The financial services provider reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.14. The firm earned $17.55 billion during the quarter, compared to analysts’ expectations of $17.47 billion. The business’s revenue was down 9.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.45 EPS. On average, equities analysts predict that Citigroup Inc. will post $4.63 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Monday, August 1st will be given a $0.16 dividend. The ex-dividend date is Thursday, July 28th. This represents a $0.64 annualized dividend and a dividend yield of 1.45%. This is a boost from Citigroup’s previous quarterly dividend of $0.05.
In related news, insider Joseph Michael Murray sold 8,122 shares of Citigroup stock in a transaction that occurred on Wednesday, July 20th. The stock was 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 in the company, valued at $1,554,112.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
A number of institutional investors recently made changes to their positions in C. BNP Paribas Arbitrage SA increased its position in shares of Citigroup by 89.9% in the fourth quarter. BNP Paribas Arbitrage SA now owns 14,817,113 shares of the financial services provider’s stock worth $393,357,000 after buying an additional 7,013,858 shares during the last quarter. Jennison Associates LLC boosted its stake in Citigroup by 60.5% in the fourth quarter. Jennison Associates LLC now owns 14,682,508 shares of the financial services provider’s stock valued at $759,820,000 after buying an additional 5,533,946 shares during the period. Vanguard Group Inc. boosted its stake in Citigroup by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 163,849,049 shares of the financial services provider’s stock valued at $8,479,189,000 after buying an additional 1,959,695 shares during the period. Schroder Investment Management Group boosted its stake in Citigroup by 12.6% in the fourth quarter. Schroder Investment Management Group now owns 10,023,022 shares of the financial services provider’s stock valued at $518,691,000 after buying an additional 1,118,933 shares during the period. Finally, Gluskin Sheff & Assoc Inc. acquired a new stake in Citigroup during the fourth quarter valued at about $39,917,000.
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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