Traders Buy Citigroup (C) on Weakness

Traders purchased shares of Citigroup (NYSE:C) on weakness during trading hours on Friday. $240.41 million flowed into the stock on the tick-up and $157.29 million flowed out of the stock on the tick-down, for a money net flow of $83.12 million into the stock. Of all companies tracked, Citigroup had the 10th highest net in-flow for the day. Citigroup traded down ($0.87) for the day and closed at $68.44

A number of analysts recently commented on the company. Macquarie increased their price objective on Citigroup from $82.00 to $84.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. DZ Bank raised Citigroup from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. Vetr lowered Citigroup from a “sell” rating to a “strong sell” rating and set a $70.80 price objective on the stock. in a research note on Monday, January 29th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $74.00 price objective on shares of Citigroup in a research note on Thursday, April 5th. Finally, TheStreet lowered Citigroup from a “b-” rating to a “c+” rating in a research note on Tuesday, March 27th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $80.79.

The stock has a market capitalization of $175.90 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 0.99 and a beta of 1.55. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.01 and a quick ratio of 1.01.

Citigroup (NYSE:C) last released its earnings results on Friday, April 13th. The financial services provider reported $1.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.07. Citigroup had a positive return on equity of 8.13% and a negative net margin of 6.28%. The firm had revenue of $18.87 billion for the quarter, compared to the consensus estimate of $18.89 billion. During the same period in the prior year, the business posted $1.35 earnings per share. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. analysts expect that Citigroup will post 6.48 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 25th. Investors of record on Monday, May 7th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, May 4th. This represents a $1.28 annualized dividend and a yield of 1.87%. Citigroup’s dividend payout ratio (DPR) is presently 24.02%.

In related news, CFO John C. Gerspach sold 12,966 shares of the stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $72.31, for a total transaction of $937,571.46. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.11% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Suntrust Banks Inc. raised its holdings in shares of Citigroup by 9.4% during the 1st quarter. Suntrust Banks Inc. now owns 255,341 shares of the financial services provider’s stock valued at $17,234,000 after buying an additional 22,037 shares during the period. BKD Wealth Advisors LLC raised its holdings in shares of Citigroup by 41.2% during the 1st quarter. BKD Wealth Advisors LLC now owns 13,195 shares of the financial services provider’s stock valued at $891,000 after buying an additional 3,847 shares during the period. Summit Trail Advisors LLC raised its holdings in shares of Citigroup by 39.2% during the 1st quarter. Summit Trail Advisors LLC now owns 25,440 shares of the financial services provider’s stock valued at $1,103,000 after buying an additional 7,158 shares during the period. Derby & Company Inc. raised its holdings in shares of Citigroup by 6.7% during the 1st quarter. Derby & Company Inc. now owns 11,712 shares of the financial services provider’s stock valued at $791,000 after buying an additional 731 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of Citigroup by 3.0% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 59,403 shares of the financial services provider’s stock valued at $4,010,000 after buying an additional 1,737 shares during the period. Institutional investors own 76.78% of the company’s stock.

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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