Investors Buy Shares of Citigroup Inc. (C) on Weakness
Investors purchased shares of Citigroup Inc. (NYSE:C) on weakness during trading hours on Friday. $259.25 million flowed into the stock on the tick-up and $203.28 million flowed out of the stock on the tick-down, for a money net flow of $55.97 million into the stock. Of all stocks tracked, Citigroup had the 12th highest net in-flow for the day. Citigroup traded down ($0.08) for the day and closed at $75.64
C has been the topic of a number of analyst reports. Vetr downgraded shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $73.42 price objective on the stock. in a research report on Monday, July 3rd. UBS AG raised shares of Citigroup from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $58.00 to $64.00 in a research report on Friday, June 9th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Citigroup in a research report on Wednesday, September 27th. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $78.50 price objective (up previously from $77.50) on shares of Citigroup in a research report on Friday. Finally, Keefe, Bruyette & Woods set a $69.00 price objective on shares of Citigroup and gave the stock a “buy” rating in a research report on Thursday, June 8th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $71.65.
The company has a 50 day moving average price of $69.52 and a 200-day moving average price of $64.65. The company has a market capitalization of $206.09 billion, a P/E ratio of 15.14 and a beta of 1.45. Citigroup also saw some unusual options trading activity on Thursday. Investors bought 71,029 call options on the stock. This represents an increase of 192% compared to the typical daily volume of 24,344 call options.
Citigroup (NYSE:C) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.07. The company had revenue of $17.90 billion for the quarter, compared to analyst estimates of $17.38 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.24 earnings per share. On average, equities analysts anticipate that Citigroup Inc. will post $5.21 earnings per share for the current fiscal year.
Citigroup declared that its Board of Directors has initiated a share repurchase program on Wednesday, June 28th that allows the company to buyback $15.60 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 8.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
In other news, CEO Francisco Aristeguieta sold 40,000 shares of the firm’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 transaction, the chief executive officer now directly owns 77,570 shares in the company, valued at $5,239,853.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey R. Walsh sold 5,000 shares of the firm’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 transaction, the insider now owns 56,394 shares in the company, valued at $3,889,494.18. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Endurance Wealth Management Inc. lifted its holdings in shares of Citigroup by 0.3% during the first quarter. Endurance Wealth Management Inc. now owns 9,837 shares of the financial services provider’s stock worth $588,000 after purchasing an additional 25 shares during the period. Investors Asset Management of Georgia Inc. GA ADV lifted its holdings in shares of Citigroup by 0.8% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,359 shares of the financial services provider’s stock worth $358,000 after purchasing an additional 40 shares during the period. Leisure Capital Management lifted its holdings in shares of Citigroup by 1.6% during the second quarter. Leisure Capital Management now owns 3,763 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 59 shares during the period. Regal Investment Advisors LLC lifted its holdings in shares of Citigroup by 2.0% during the first quarter. Regal Investment Advisors LLC now owns 3,800 shares of the financial services provider’s stock worth $227,000 after purchasing an additional 74 shares during the period. Finally, Halbert Hargrove Russell LLC lifted its holdings in shares of Citigroup by 1.6% during the second quarter. Halbert Hargrove Russell LLC now owns 4,736 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 74 shares during the period. Institutional investors and hedge funds own 75.38% of the company’s stock.
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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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