Traders Buy Citigroup Inc. (C) on Weakness
Investors bought shares of Citigroup Inc. (NYSE:C) on weakness during trading hours on Friday. $193.03 million flowed into the stock on the tick-up and $124.21 million flowed out of the stock on the tick-down, for a money net flow of $68.82 million into the stock. Of all equities tracked, Citigroup had the 3rd highest net in-flow for the day. Citigroup traded down ($0.38) for the day and closed at $47.36
Several analysts have recently weighed in on C shares. Barclays PLC restated a “buy” rating and set a $60.00 price objective on shares of Citigroup in a research report on Sunday, July 10th. Vetr cut shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $48.04 price objective on the stock. in a research report on Monday, June 27th. Buckingham Research restated a “buy” rating on shares of Citigroup in a research report on Tuesday, June 21st. Evercore ISI restated a “buy” rating on shares of Citigroup in a research report on Monday, May 16th. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Citigroup in a research report on Saturday, July 9th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. Citigroup presently has a consensus rating of “Buy” and an average target price of $55.48.
The firm’s 50-day moving average is $45.53 and its 200-day moving average is $43.76. The company has a market capitalization of $138.03 billion and a PE ratio of 10.06.
Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.14. The company earned $17.55 billion during the quarter, compared to the consensus estimate of $17.47 billion. During the same quarter in the previous year, the company posted $1.45 earnings per share. The company’s revenue for the quarter was down 9.9% on a year-over-year basis. Equities analysts anticipate that Citigroup Inc. will post $4.63 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Monday, August 1st were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Thursday, July 28th. This is a positive change from Citigroup’s previous quarterly dividend of $0.05.
In other news, insider Joseph Michael Murray sold 8,122 shares of the company’s stock in a transaction dated 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 in the company, valued at $1,554,112.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
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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