Investors sold shares of Citigroup Inc. (NYSE:C) on strength during trading on Monday. $138.67 million flowed into the stock on the tick-up and $256.77 million flowed out of the stock on the tick-down, for a money net flow of $118.10 million out of the stock. Of all equities tracked, Citigroup had the 0th highest net out-flow for the day. Citigroup traded up $1.54 for the day and closed at $67.71
A number of equities analysts have commented on C shares. J P Morgan Chase & Co set a $73.50 price target on shares of Citigroup and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Credit Suisse Group restated a “buy” rating and issued a $73.00 price target on shares of Citigroup in a research report on Wednesday. ValuEngine raised shares of Citigroup from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Vetr downgraded shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $76.22 target price for the company. in a research note on Monday, July 31st. Finally, Wells Fargo & Company assumed coverage on shares of Citigroup in a research note on Wednesday, August 9th. They issued an “outperform” rating and a $90.00 target price for the company. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $68.99.
The company’s 50 day moving average price is $67.68 and its 200 day moving average price is $63.29. The firm has a market capitalization of $187.42 billion, a price-to-earnings ratio of 13.77 and a beta of 1.47.
Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $17.38 billion. During the same quarter in the prior year, the company earned $1.24 earnings per share. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities research analysts forecast that Citigroup Inc. will post $5.22 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Monday, August 7th were issued a dividend of $0.32 per share. The ex-dividend date was Thursday, August 3rd. This is an increase from Citigroup’s previous quarterly dividend of $0.16. This represents a $1.28 annualized dividend and a dividend yield of 1.86%. Citigroup’s dividend payout ratio (DPR) is presently 25.55%.
Citigroup declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, June 28th that authorizes the company to buyback $15.60 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 8.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
In related news, insider Jeffrey R. Walsh sold 5,000 shares of Citigroup stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $68.97, for a total value of $344,850.00. Following the completion of the sale, the insider now directly owns 56,394 shares in the company, valued at approximately $3,889,494.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Francisco Aristeguieta sold 40,000 shares of Citigroup stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $67.55, for a total value of $2,702,000.00. Following the completion of the sale, the chief executive officer now owns 77,570 shares of the company’s stock, valued at $5,239,853.50. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the business. Advisory Services Network LLC purchased a new position in Citigroup in the first quarter worth about $877,000. BlackRock Inc. boosted its position in Citigroup by 2,718.7% in 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. Advisor Partners LLC boosted its position in Citigroup by 10.6% in the first quarter. Advisor Partners LLC now owns 48,936 shares of the financial services provider’s stock worth $2,927,000 after purchasing an additional 4,685 shares during the last quarter. Capital Advisors Inc. OK boosted its position in Citigroup by 2.1% in the first quarter. Capital Advisors Inc. OK now owns 393,431 shares of the financial services provider’s stock worth $23,535,000 after purchasing an additional 8,070 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its position in Citigroup by 7.5% in the first quarter. Diamond Hill Capital Management Inc. now owns 9,680,474 shares of the financial services provider’s stock worth $579,086,000 after purchasing an additional 672,933 shares during the last quarter. 75.40% of the stock is currently owned by institutional investors and hedge funds.
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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