Traders Buy Citigroup Inc. (C) on Weakness
Traders purchased shares of Citigroup Inc. (NYSE:C) on weakness during trading on Friday. $137.57 million flowed into the stock on the tick-up and $59.96 million flowed out of the stock on the tick-down, for a money net flow of $77.61 million into the stock. Of all stocks tracked, Citigroup had the 12th highest net in-flow for the day. Citigroup traded down ($0.27) for the day and closed at $43.81
Several equities research analysts have recently weighed in on C shares. Evercore ISI reissued a “buy” rating on shares of Citigroup in a research note on Monday, May 16th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $53.00 target price (up previously from $52.00) on shares of Citigroup in a research note on Tuesday, April 19th. Vetr cut Citigroup from a “strong-buy” rating to a “buy” rating and set a $52.64 target price for the company. in a research note on Tuesday, April 26th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Citigroup in a research note on Sunday, April 17th. Finally, Buckingham Research reaffirmed a “buy” rating on shares of Citigroup in a research note on Tuesday, June 21st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have given a buy rating to the company. Citigroup currently has a consensus rating of “Buy” and an average price target of $56.01.
The firm has a market capitalization of $127.29 billion and a price-to-earnings ratio of 9.27. The company has a 50-day moving average of $42.84 and a 200-day moving average of $42.83.
Citigroup (NYSE:C) last released its quarterly 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 had revenue of $17.55 billion for the quarter, compared to the consensus estimate of $17.47 billion. Citigroup’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.45 earnings per share. On average, equities analysts predict that Citigroup Inc. will post $4.63 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Monday, August 1st will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, July 28th. This is an increase from Citigroup’s previous quarterly dividend of $0.05. This represents a $0.64 annualized dividend and a dividend yield of 1.46%.
In other news, insider Joseph Michael Murray sold 8,122 shares of the stock in a transaction 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 directly owns 35,042 shares of the company’s stock, valued at approximately $1,554,112.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Other large investors have modified their holdings of the company. MRJ Capital Inc. raised its stake 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 worth $2,049,000 after buying an additional 200 shares during the last quarter. Alerus Investment Advisors Corp raised its stake 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 worth $3,699,000 after buying an additional 586 shares during the last quarter. Wetherby Asset Management Inc. raised its stake 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 worth $1,793,000 after buying an additional 615 shares during the last quarter. Courier Capital Corp raised its stake 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 worth $2,767,000 after buying an additional 715 shares during the last quarter. Finally, Andra AP fonden raised its stake 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 worth $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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