Investors Buy Shares of Citigroup Inc. (C) on Weakness
Investors bought shares of Citigroup Inc. (NYSE:C) on weakness during trading hours on Thursday. $102.46 million flowed into the stock on the tick-up and $75.03 million flowed out of the stock on the tick-down, for a money net flow of $27.43 million into the stock. Of all companies tracked, Citigroup had the 12th highest net in-flow for the day. Citigroup traded down ($0.05) for the day and closed at $44.08
A number of research firms have commented on C. Credit Suisse Group AG restated a “buy” rating on shares of Citigroup in a research note on Sunday, April 17th. Deutsche Bank AG restated a “hold” rating on shares of Citigroup in a research note on Sunday, June 26th. Jefferies Group restated a “buy” rating on shares of Citigroup in a research note on Sunday, July 10th. BMO Capital Markets restated an “outperform” rating and issued a $63.00 price objective (up from $61.00) on shares of Citigroup in a research note on Monday, April 18th. Finally, Goldman Sachs Group Inc. restated a “buy” rating and issued a $53.00 price objective (up from $52.00) on shares of Citigroup in a research note on Tuesday, April 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $56.01.
The firm has a market capitalization of $128.07 billion and a P/E ratio of 9.33. The stock has a 50 day moving average of $42.88 and a 200-day moving average of $42.86.
Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.14. The business had revenue of $17.55 billion for the quarter, compared to the consensus estimate of $17.47 billion. The business’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same quarter last year, the business posted $1.45 EPS. Analysts predict that Citigroup Inc. will post $4.64 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Monday, August 1st will be given a dividend of $0.16 per share. 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 dividend yield of 1.45%.
In other news, insider Joseph Michael Murray sold 8,122 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $44.35, for a total transaction of $360,210.70. Following the completion of the transaction, the insider now owns 35,042 shares in the company, valued at approximately $1,554,112.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Several hedge funds and institutional investors have recently made changes to their positions in C. MRJ Capital Inc. boosted its position in shares of Citigroup by 0.5% in the fourth quarter. MRJ Capital Inc. now owns 39,600 shares of the financial services provider’s stock valued at $2,049,000 after buying an additional 200 shares during the last quarter. Alerus Investment Advisors Corp boosted its position in shares of Citigroup by 0.8% in the fourth quarter. Alerus Investment Advisors Corp now owns 71,467 shares of the financial services provider’s stock valued at $3,699,000 after buying an additional 586 shares during the last quarter. Wetherby Asset Management Inc. boosted its position in shares of Citigroup by 1.8% in the fourth quarter. Wetherby Asset Management Inc. now owns 34,645 shares of the financial services provider’s stock valued at $1,793,000 after buying an additional 615 shares during the last quarter. Courier Capital Corp boosted its position in shares of Citigroup by 1.4% in the fourth quarter. Courier Capital Corp now owns 53,467 shares of the financial services provider’s stock valued at $2,767,000 after buying an additional 715 shares during the last quarter. Finally, Andra AP fonden boosted its position in shares of Citigroup by 0.4% in the fourth quarter. Andra AP fonden now owns 180,000 shares of the financial services provider’s stock valued at $9,315,000 after buying an additional 800 shares during the last quarter.
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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