Citigroup Sees Unusually High Options Volume (C)

Citigroup Inc. (NYSE:C) was the target of some unusual options trading on Wednesday. Investors purchased 55,869 call options on the company. This represents an increase of 175% compared to the average volume of 20,342 call options.

Several research analysts recently weighed in on the company. BMO Capital Markets restated a “buy” rating and set a $64.00 target price on shares of Citigroup in a research note on Thursday, June 1st. Vetr upgraded Citigroup from a “buy” rating to a “strong-buy” rating and set a $71.55 target price on the stock in a research note on Wednesday, June 7th. Keefe, Bruyette & Woods set a $69.00 target price on Citigroup and gave the stock a “buy” rating in a research note on Thursday, June 8th. UBS AG upgraded Citigroup from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $58.00 to $64.00 in a research note on Friday, June 9th. Finally, J P Morgan Chase & Co restated a “sell” rating on shares of Citigroup in a research note on Friday, June 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $70.08.

Shares of Citigroup (NYSE:C) opened at 71.40 on Monday. The firm has a market capitalization of $194.53 billion, a PE ratio of 14.29 and a beta of 1.47. The stock has a 50 day moving average price of $68.04 and a 200 day moving average price of $63.70. Citigroup has a 52 week low of $45.16 and a 52 week high of $72.20.

Citigroup (NYSE:C) last posted its earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.07. The business had revenue of $17.90 billion for the quarter, compared to analyst estimates of $17.38 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.24 EPS. Equities analysts forecast that Citigroup will post $5.21 earnings per share for the current fiscal year.

Citigroup declared that its board has authorized a stock buyback plan on Wednesday, June 28th that allows the company to buyback $15.60 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 8.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

In other news, insider Jeffrey R. Walsh sold 5,000 shares of Citigroup stock in a transaction on Friday, August 4th. The stock was sold at an average price of $68.97, for a total value of $344,850.00. Following the transaction, the insider now directly owns 56,394 shares in the company, valued at approximately $3,889,494.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Francisco Aristeguieta sold 40,000 shares of Citigroup stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $67.55, for a total value of $2,702,000.00. Following the completion of the transaction, the chief executive officer now owns 77,570 shares in the company, valued at $5,239,853.50. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Large investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in Citigroup by 2,718.7% in the 1st quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock worth $11,749,573,000 after buying an additional 189,447,104 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Citigroup by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 183,198,941 shares of the financial services provider’s stock worth $10,958,960,000 after buying an additional 4,391,347 shares in the last quarter. FMR LLC lifted its holdings in Citigroup by 3.8% in the 2nd quarter. FMR LLC now owns 109,804,452 shares of the financial services provider’s stock worth $7,343,721,000 after buying an additional 4,061,637 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Citigroup by 6.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 46,110,561 shares of the financial services provider’s stock worth $3,083,874,000 after buying an additional 2,943,282 shares in the last quarter. Finally, Harris Associates L P lifted its holdings in Citigroup by 0.5% in the 2nd quarter. Harris Associates L P now owns 41,350,951 shares of the financial services provider’s stock worth $2,765,551,000 after buying an additional 221,171 shares in the last quarter. Institutional investors and hedge funds own 75.38% of the company’s stock.

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Citigroup Company Profile

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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