Traders Buy Citigroup Inc. (C) on Weakness
Investors purchased shares of Citigroup Inc. (NYSE:C) on weakness during trading hours on Friday. $201.69 million flowed into the stock on the tick-up and $97.98 million flowed out of the stock on the tick-down, for a money net flow of $103.71 million into the stock. Of all stocks tracked, Citigroup had the 6th highest net in-flow for the day. Citigroup traded down ($0.18) for the day and closed at $72.25
C has been the topic of a number of recent research reports. Atlantic Securities reiterated an “overweight” rating and issued a $85.00 target price (up previously from $75.00) on shares of Citigroup in a research report on Tuesday, September 26th. Bank of America Corporation reiterated a “neutral” rating on shares of Citigroup in a research report on Wednesday, October 11th. Vetr upgraded Citigroup from a “buy” rating to a “strong-buy” rating and set a $76.34 target price on the stock in a research report on Thursday, August 3rd. BMO Capital Markets reiterated a “hold” rating and issued a $65.00 target price on shares of Citigroup in a research report on Friday, October 6th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $83.00 target price (up previously from $73.00) on shares of Citigroup in a research report on Monday, October 9th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Citigroup has an average rating of “Buy” and an average price target of $74.77.
The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $191,030.00, a PE ratio of 13.94, a PEG ratio of 1.42 and a beta of 1.57.
Citigroup (NYSE:C) last issued its earnings results on Thursday, October 12th. The financial services provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.10. Citigroup had a return on equity of 7.48% and a net margin of 18.11%. The business had revenue of $18.17 billion for the quarter, compared to analyst estimates of $17.87 billion. During the same quarter last year, the company earned $1.24 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. equities research analysts expect that Citigroup Inc. will post 5.29 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.77%. The ex-dividend date is Friday, November 3rd. Citigroup’s dividend payout ratio (DPR) is 24.66%.
Hedge funds have recently made changes to their positions in the business. Capital Analysts LLC boosted its stake in shares of Citigroup by 5.4% in the second quarter. Capital Analysts LLC now owns 45,844 shares of the financial services provider’s stock valued at $3,066,000 after buying an additional 2,367 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Citigroup by 5.2% during the second quarter. Principal Financial Group Inc. now owns 4,152,299 shares of the financial services provider’s stock worth $277,705,000 after purchasing an additional 205,298 shares during the last quarter. BlackRock Inc. raised its holdings in Citigroup by 2,718.7% during the first quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock worth $11,749,573,000 after purchasing an additional 189,447,104 shares during the last quarter. Amalgamated Bank raised its holdings in Citigroup by 1.0% during the first quarter. Amalgamated Bank now owns 195,156 shares of the financial services provider’s stock worth $11,674,000 after purchasing an additional 1,937 shares during the last quarter. Finally, Shelton Capital Management raised its holdings in Citigroup by 13.9% during the first quarter. Shelton Capital Management now owns 60,400 shares of the financial services provider’s stock worth $3,613,000 after purchasing an additional 7,384 shares during the last quarter. Institutional investors own 78.10% of the company’s stock.
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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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