Traders Buy Shares of Citigroup (C) on Weakness

Investors purchased shares of Citigroup (NYSE:C) on weakness during trading on Tuesday. $252.58 million flowed into the stock on the tick-up and $173.09 million flowed out of the stock on the tick-down, for a money net flow of $79.49 million into the stock. Of all stocks tracked, Citigroup had the 2nd highest net in-flow for the day. Citigroup traded down ($0.33) for the day and closed at $69.74

A number of equities research analysts have recently issued reports on C shares. Nomura set a $87.00 target price on shares of Citigroup and gave the company a “buy” rating in a research report on Wednesday, January 17th. JPMorgan Chase set a $80.00 target price on shares of Citigroup and gave the company a “buy” rating in a research report on Wednesday, January 17th. Wells Fargo set a $100.00 target price on shares of Citigroup and gave the company a “buy” rating in a research report on Wednesday, January 17th. Credit Suisse Group reissued a “buy” rating and issued a $86.00 target price on shares of Citigroup in a research report on Thursday, January 4th. Finally, Zacks Investment Research raised shares of Citigroup from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a research report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have assigned a buy rating to the company. Citigroup has a consensus rating of “Hold” and a consensus price target of $81.01.

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The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $182,500.39, a P/E ratio of 13.08, a PEG ratio of 1.01 and a beta of 1.56.

Citigroup (NYSE:C) last issued its earnings results on Friday, April 13th. The financial services provider reported $1.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.07. The firm had revenue of $18.87 billion during the quarter, compared to the consensus estimate of $18.89 billion. Citigroup had a positive return on equity of 7.95% and a negative net margin of 6.28%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.35 earnings per share. equities research analysts anticipate that Citigroup will post 6.41 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. increased its stake in shares of Citigroup by 17.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 96,560 shares of the financial services provider’s stock valued at $7,185,000 after buying an additional 14,491 shares during the period. Certified Advisory Corp bought a new stake in Citigroup in the fourth quarter valued at approximately $1,393,000. Wagner Wealth Management LLC bought a new stake in Citigroup in the fourth quarter valued at approximately $230,000. Xact Kapitalforvaltning AB boosted its holdings in Citigroup by 6.6% in the fourth quarter. Xact Kapitalforvaltning AB now owns 472,558 shares of the financial services provider’s stock valued at $35,163,000 after acquiring an additional 29,101 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Citigroup by 0.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 429,728 shares of the financial services provider’s stock valued at $31,976,000 after acquiring an additional 2,867 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

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About Citigroup

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG). The GCB segment offers traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services.

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