Citigroup Inc. (C) Sees Significant Drop in Short Interest
Citigroup Inc. (NYSE:C) was the recipient of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 28,936,428 shares, a decrease of 11.4% from the October 14th total of 32,646,247 shares. Based on an average trading volume of 14,760,801 shares, the short-interest ratio is presently 2.0 days. Approximately 1.0% of the shares of the company are sold short.
Several research firms have commented on C. Morgan Stanley raised Citigroup from an “equal weight” rating to an “overweight” rating in a research note on Monday. Vetr downgraded Citigroup from a “hold” rating to a “sell” rating and set a $45.35 price objective for the company. in a research note on Tuesday, September 6th. BMO Capital Markets reaffirmed a “buy” rating and set a $66.00 price objective (up from $63.00) on shares of Citigroup in a research note on Monday, July 18th. Argus reiterated a “hold” rating on shares of Citigroup in a research report on Monday, July 18th. Finally, Drexel Hamilton reiterated a “buy” rating and set a $65.00 target price on shares of Citigroup in a research report on Monday, July 18th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. Citigroup presently has a consensus rating of “Buy” and a consensus price target of $54.40.
Citigroup (NYSE:C) opened at 54.68 on Tuesday. The firm has a market capitalization of $155.82 billion, a P/E ratio of 11.89 and a beta of 1.74. The company has a 50-day moving average price of $48.92 and a 200-day moving average price of $45.95. Citigroup has a 1-year low of $34.52 and a 1-year high of $55.37.
Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, October 14th. The financial services provider reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.08. Citigroup had a net margin of 17.58% and a return on equity of 7.04%. The business had revenue of $17.80 billion for the quarter, compared to analyst estimates of $17.32 billion. During the same period in the prior year, the business posted $1.31 earnings per share. Citigroup’s revenue was down 4.8% compared to the same quarter last year. On average, equities research analysts predict that Citigroup will post $4.69 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 23rd. Investors of record on Monday, November 7th will be issued a $0.16 dividend. The ex-dividend date is Thursday, November 3rd. This represents a $0.64 annualized dividend and a yield of 1.17%. Citigroup’s dividend payout ratio is currently 13.91%.
A number of institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its stake in shares of Citigroup by 6.5% in the second quarter. BNP Paribas Arbitrage SA now owns 12,083,668 shares of the financial services provider’s stock valued at $206,341,000 after buying an additional 738,298 shares during the last quarter. Boston Advisors LLC purchased a new stake in shares of Citigroup during the second quarter valued at approximately $10,755,000. Sanders Capital LLC increased its stake in shares of Citigroup by 0.6% in the second quarter. Sanders Capital LLC now owns 16,006,239 shares of the financial services provider’s stock valued at $693,526,000 after buying an additional 89,414 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Citigroup by 1.4% in the second quarter. BlackRock Fund Advisors now owns 34,452,658 shares of the financial services provider’s stock valued at $1,460,448,000 after buying an additional 476,584 shares during the last quarter. Finally, Strs Ohio increased its stake in shares of Citigroup by 5.2% in the second quarter. Strs Ohio now owns 4,164,626 shares of the financial services provider’s stock valued at $176,538,000 after buying an additional 206,512 shares during the last quarter. Institutional investors and hedge funds own 72.41% of the company’s stock.
Citigroup Company Profile
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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