Traders Sell Shares of Citigroup Inc. (C) on Strength (C)
Traders sold shares of Citigroup Inc. (NYSE:C) on strength during trading hours on Thursday. $115.64 million flowed into the stock on the tick-up and $195.41 million flowed out of the stock on the tick-down, for a money net flow of $79.77 million out of the stock. Of all stocks tracked, Citigroup had the 0th highest net out-flow for the day. Citigroup traded up $0.30 for the day and closed at $71.76
A number of equities analysts have issued reports on the stock. Wells Fargo & Company assumed coverage on shares of Citigroup in a report on Wednesday, August 9th. They issued an “outperform” rating and a $90.00 target price on the stock. Zacks Investment Research raised shares of Citigroup from a “sell” rating to a “hold” rating in a report on Friday, July 7th. HSBC Holdings plc set a $74.00 target price on shares of Citigroup and gave the stock a “hold” rating in a report on Friday, August 11th. Jefferies Group LLC reissued a “hold” rating and issued a $68.00 target price on shares of Citigroup in a report on Friday, July 7th. Finally, BMO Capital Markets cut shares of Citigroup from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $67.43 to $65.00 in a report on Monday, July 31st. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Citigroup has an average rating of “Buy” and a consensus price target of $69.79.
The firm has a market cap of $194.53 billion, a PE ratio of 14.29 and a beta of 1.47. The stock has a 50-day moving average of $68.04 and a 200-day moving average of $63.70. Citigroup also saw unusually large options trading activity on Wednesday. Investors purchased 55,869 call options on the company. This represents an increase of 175% compared to the average volume of 20,342 call options.
Citigroup (NYSE:C) last announced its earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.07. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The company had revenue of $17.90 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same period in the prior year, the business earned $1.24 earnings per share. Citigroup’s quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts forecast that Citigroup Inc. will post $5.21 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Monday, August 7th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.79%. This is a positive change from Citigroup’s previous quarterly dividend of $0.16. The ex-dividend date was Thursday, August 3rd. Citigroup’s dividend payout ratio is presently 25.55%.
Citigroup announced that its board has authorized a share buyback program on Wednesday, June 28th that allows the company to buyback $15.60 billion in shares. This buyback authorization allows the financial services provider to purchase up to 8.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In related news, CEO Francisco Aristeguieta sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $67.55, for a total transaction of $2,702,000.00. Following the completion of the sale, the chief executive officer now directly owns 77,570 shares of the company’s stock, valued at $5,239,853.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeffrey R. Walsh sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $68.97, for a total transaction of $344,850.00. Following the sale, the insider now directly owns 56,394 shares of the company’s stock, valued at $3,889,494.18. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of C. Catamount Wealth Management bought a new stake in Citigroup in the second quarter valued at approximately $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in Citigroup by 206.0% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 1,030 shares in the last quarter. Patten Group Inc. increased its stake in Citigroup by 6.6% in the first quarter. Patten Group Inc. now owns 1,765 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 110 shares in the last quarter. Dubuque Bank & Trust Co. increased its stake in Citigroup by 60.8% in the second quarter. Dubuque Bank & Trust Co. now owns 1,584 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 599 shares in the last quarter. Finally, Balentine LLC increased its stake in Citigroup by 20.2% in the second quarter. Balentine LLC now owns 1,617 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 272 shares in the last quarter. 75.38% of the stock is owned by institutional investors and hedge funds.
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Citigroup Company Profile
Citigroup Inc (Citi) is a financial services holding company. The Company’s whose 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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