Investors Buy Citigroup Inc. (C) on Weakness
Investors bought shares of Citigroup Inc. (NYSE:C) on weakness during trading hours on Thursday. $119.46 million flowed into the stock on the tick-up and $87.63 million flowed out of the stock on the tick-down, for a money net flow of $31.83 million into the stock. Of all companies tracked, Citigroup had the 11th highest net in-flow for the day. Citigroup traded down ($0.13) for the day and closed at $46.50
Several equities research analysts recently commented on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Citigroup in a research report on Tuesday. Vetr cut shares of Citigroup from a “buy” rating to a “hold” rating and set a $46.29 price objective on the stock. in a research report on Monday, August 8th. Jefferies Group reaffirmed a “buy” rating on shares of Citigroup in a research report on Monday, August 1st. Zacks Investment Research raised shares of Citigroup from a “sell” rating to a “hold” rating in a research report on Thursday, July 21st. Finally, Barclays PLC reaffirmed a “buy” rating on shares of Citigroup in a research report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Citigroup has a consensus rating of “Buy” and an average target price of $55.49.
The company has a market cap of $135.19 billion and a price-to-earnings ratio of 9.85. The company’s 50-day moving average price is $44.24 and its 200 day moving average price is $43.18.
Citigroup (NYSE:C) last released its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.14. During the same period last year, the business posted $1.45 earnings per share. The business earned $17.55 billion during the quarter, compared to the consensus estimate of $17.47 billion. The firm’s quarterly revenue was down 9.9% on a year-over-year basis. Equities research analysts forecast that Citigroup Inc. will post $4.63 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Monday, August 1st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.38%. This is an increase from Citigroup’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Thursday, July 28th.
In other Citigroup news, insider Joseph Michael Murray sold 8,122 shares of the firm’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $44.35, for a total value of $360,210.70. Following the transaction, the insider now directly owns 35,042 shares of the company’s stock, valued at $1,554,112.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. 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 worth $1,258,000 after buying an additional 3,560 shares during the last quarter. Parsons Capital Management Inc. RI raised its stake in shares of Citigroup by 1.9% in the fourth quarter. Parsons Capital Management Inc. RI now owns 46,592 shares of the financial services provider’s stock valued at $2,411,000 after buying an additional 865 shares in the last quarter. Levin Capital Strategies L.P. raised its stake in shares of Citigroup by 7.5% in the fourth quarter. Levin Capital Strategies L.P. now owns 5,234,556 shares of the financial services provider’s stock valued at $270,888,000 after buying an additional 367,451 shares in the last quarter. Cibc World Markets Corp raised its stake in shares of Citigroup by 279,879.3% in the fourth quarter. Cibc World Markets Corp now owns 500,805 shares of the financial services provider’s stock valued at $25,917,000 after buying an additional 500,984 shares in the last quarter. Finally, 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 valued at $2,049,000 after buying an additional 200 shares in the last quarter.
Citigroup Inc (Citi) is a financial services holding company. The Company’s businesses provide consumers, corporations, governments and institutions with a range of 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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