Traders Sell Citigroup Inc. (C) on Strength (C)
Investors sold shares of Citigroup Inc. (NYSE:C) on strength during trading on Tuesday. $106.62 million flowed into the stock on the tick-up and $189.97 million flowed out of the stock on the tick-down, for a money net flow of $83.35 million out of the stock. Of all stocks tracked, Citigroup had the 0th highest net out-flow for the day. Citigroup traded up $0.10 for the day and closed at $70.94
A number of equities research analysts have recently issued reports on C shares. Vetr lowered shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $70.90 target price for the company. in a report on Monday, June 12th. BidaskClub raised shares of Citigroup from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Bank of America Corporation reaffirmed a “buy” rating and set a $68.00 target price (up previously from $64.00) on shares of Citigroup in a report on Tuesday, June 13th. Keefe, Bruyette & Woods set a $69.00 target price on shares of Citigroup and gave the stock a “buy” rating in a report on Thursday, June 8th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $64.00 target price on shares of Citigroup in a report on Thursday, June 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. Citigroup has an average rating of “Buy” and an average price target of $71.16.
The stock has a 50 day moving average of $68.04 and a 200 day moving average of $63.70. The firm has a market cap of $196.88 billion, a price-to-earnings ratio of 14.47 and a beta of 1.47. Citigroup also was the target of unusually large options trading on Wednesday. Stock investors purchased 30,345 put options on the company. This represents an increase of approximately 127% compared to the typical volume of 13,350 put options.
Citigroup (NYSE:C) last issued 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 return on equity of 7.32% and a net margin of 18.11%. The business had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the previous year, the business earned $1.24 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts expect that Citigroup Inc. will post $5.21 EPS for the current fiscal year.
Citigroup announced that its Board of Directors has initiated a share buyback program on Wednesday, June 28th that permits the company to buyback $15.60 billion in shares. This buyback authorization permits the financial services provider to buy up to 8.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are 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 stock was sold at an average price of $67.55, for a total transaction of $2,702,000.00. Following the transaction, the chief executive officer now directly owns 77,570 shares of the company’s stock, valued at approximately $5,239,853.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $344,850.00. Following the transaction, the insider now directly owns 56,394 shares in the company, valued at $3,889,494.18. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in C. BlackRock Inc. lifted its position in Citigroup by 2,718.7% during the 1st quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock worth $11,749,573,000 after acquiring an additional 189,447,104 shares in the last quarter. FMR LLC lifted its position in Citigroup by 18.2% during the 1st quarter. FMR LLC now owns 105,742,815 shares of the financial services provider’s stock worth $6,325,535,000 after acquiring an additional 16,257,931 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Citigroup by 31.3% during the 1st quarter. Bank of New York Mellon Corp now owns 43,167,279 shares of the financial services provider’s stock worth $2,582,269,000 after acquiring an additional 10,294,403 shares in the last quarter. Harris Associates L P lifted its position in Citigroup by 25.9% during the 1st quarter. Harris Associates L P now owns 41,129,780 shares of the financial services provider’s stock worth $2,460,384,000 after acquiring an additional 8,464,257 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in Citigroup by 109.5% during the 2nd quarter. Lazard Asset Management LLC now owns 9,292,727 shares of the financial services provider’s stock worth $621,497,000 after acquiring an additional 4,856,866 shares in the last quarter. 75.38% of the stock is currently owned by hedge funds and other institutional investors.
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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