Traders Buy Shares of Citigroup (C) on Weakness

Investors bought shares of Citigroup Inc (NYSE:C) on weakness during trading on Tuesday. $247.62 million flowed into the stock on the tick-up and $144.38 million flowed out of the stock on the tick-down, for a money net flow of $103.24 million into the stock. Of all stocks tracked, Citigroup had the 5th highest net in-flow for the day. Citigroup traded down ($0.62) for the day and closed at $66.68

A number of equities analysts have weighed in on C shares. ValuEngine downgraded shares of Citigroup from a “hold” rating to a “sell” rating in a research note on Wednesday, August 15th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $85.00 target price on shares of Citigroup in a research note on Monday, July 16th. Morgan Stanley dropped their target price on shares of Citigroup from $88.00 to $84.00 and set an “overweight” rating for the company in a research note on Monday, July 16th. Wolfe Research started coverage on shares of Citigroup in a research note on Tuesday, September 25th. They issued an “outperform” rating for the company. Finally, Vining Sparks reaffirmed a “buy” rating and issued a $77.00 target price on shares of Citigroup in a research note on Tuesday, October 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $82.91.

The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $169.42 billion, a price-to-earnings ratio of 12.51, a P/E/G ratio of 0.86 and a beta of 1.47.

Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, October 12th. The financial services provider reported $1.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.07. The business had revenue of $18.39 billion during the quarter, compared to the consensus estimate of $18.43 billion. Citigroup had a negative net margin of 4.81% and a positive return on equity of 9.42%. During the same period in the previous year, the firm posted $1.42 earnings per share. Equities analysts anticipate that Citigroup Inc will post 6.69 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Monday, November 5th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Friday, November 2nd. Citigroup’s dividend payout ratio (DPR) is 33.77%.

In related news, CEO Francisco Aristeguieta sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $72.36, for a total transaction of $1,085,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.11% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of C. ValueAct Holdings L.P. grew its holdings in Citigroup by 55.4% during the second quarter. ValueAct Holdings L.P. now owns 25,175,500 shares of the financial services provider’s stock valued at $1,684,744,000 after purchasing an additional 8,975,500 shares during the period. SG Americas Securities LLC grew its holdings in Citigroup by 120.7% during the third quarter. SG Americas Securities LLC now owns 395,418 shares of the financial services provider’s stock valued at $28,367,000 after purchasing an additional 2,301,918 shares during the period. FMR LLC grew its holdings in Citigroup by 2.1% during the second quarter. FMR LLC now owns 107,588,759 shares of the financial services provider’s stock valued at $7,199,839,000 after purchasing an additional 2,247,392 shares during the period. Royal London Asset Management Ltd. acquired a new position in Citigroup during the second quarter valued at approximately $71,423,000. Finally, Kahn Brothers Group Inc. DE acquired a new position in Citigroup during the third quarter valued at approximately $66,650,000. Hedge funds and other institutional investors own 74.79% of the company’s stock.

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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. 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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