Investors sold shares of Citigroup Inc (NYSE:C) on strength during trading hours on Tuesday following insider selling activity. $111.42 million flowed into the stock on the tick-up and $169.00 million flowed out of the stock on the tick-down, for a money net flow of $57.58 million out of the stock. Of all equities tracked, Citigroup had the 0th highest net out-flow for the day. Citigroup traded up $0.11 for the day and closed at $69.20Specifically, CEO Stephen Bird sold 30,000 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $69.33, for a total value of $2,079,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Whitaker sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $63.24, for a total transaction of $442,680.00. The disclosure for this sale can be found here. Insiders sold a total of 42,420 shares of company stock valued at $2,870,923 in the last 90 days. Corporate insiders own 0.09% of the company’s stock.
C has been the subject of several research reports. Oppenheimer raised their price objective on shares of Citigroup from $94.00 to $99.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Standpoint Research upgraded shares of Citigroup from a “hold” rating to a “buy” rating and set a $49.70 price target for the company in a research report on Wednesday, December 26th. BMO Capital Markets upgraded shares of Citigroup from a “market perform” rating to an “outperform” rating and set a $58.90 price target for the company in a research report on Tuesday, January 15th. They noted that the move was a valuation call. Morgan Stanley lowered their price target on shares of Citigroup from $81.00 to $76.00 and set an “overweight” rating for the company in a research report on Tuesday, January 8th. Finally, Macquarie upgraded shares of Citigroup from a “neutral” rating to an “outperform” rating in a research report on Monday, January 7th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $80.61.
The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $178.13 billion, a P/E ratio of 10.35, a P/E/G ratio of 0.80 and a beta of 1.67.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Friday, May 3rd. Citigroup’s dividend payout ratio is 27.07%.
Institutional investors have recently added to or reduced their stakes in the stock. Evolution Wealth Advisors LLC bought a new position in Citigroup during the 4th quarter worth approximately $29,000. Larson Financial Group LLC bought a new position in Citigroup during the 4th quarter worth approximately $29,000. Signet Investment Advisory Group Inc. bought a new position in Citigroup during the 4th quarter worth approximately $32,000. Blume Capital Management Inc. boosted its stake in Citigroup by 4,615.4% during the 4th quarter. Blume Capital Management Inc. now owns 613 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 600 shares during the last quarter. Finally, Acima Private Wealth LLC bought a new position in Citigroup in the fourth quarter valued at approximately $33,000. 71.30% of the stock is currently owned by institutional investors and hedge funds.
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About Citigroup (NYSE:C)
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
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