Investors Buy Citigroup (C) on Weakness

Traders purchased shares of Citigroup (NYSE:C) on weakness during trading hours on Thursday. $285.18 million flowed into the stock on the tick-up and $156.71 million flowed out of the stock on the tick-down, for a money net flow of $128.47 million into the stock. Of all companies tracked, Citigroup had the 4th highest net in-flow for the day. Citigroup traded down ($0.93) for the day and closed at $69.31

A number of research firms have recently commented on C. Morgan Stanley lifted their price objective on Citigroup from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, March 15th. ValuEngine lowered Citigroup from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 1st. Vining Sparks upgraded Citigroup to a “buy” rating and set a $80.00 price objective on the stock in a research note on Friday, April 6th. HSBC upgraded Citigroup from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $82.00 to $85.00 in a research note on Wednesday, April 11th. Finally, Daiwa Capital Markets lowered Citigroup from a “strong-buy” rating to a “buy” rating and set a $78.00 price objective on the stock. in a research note on Thursday, May 17th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $80.79.

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 cap of $182.68 billion, a PE ratio of 13.00, a PEG ratio of 1.03 and a beta of 1.55.

Citigroup (NYSE:C) last released its quarterly earnings data on Friday, April 13th. The financial services provider reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.07. The company had revenue of $18.87 billion for the quarter, compared to the consensus estimate of $18.89 billion. Citigroup had a positive return on equity of 8.13% and a negative net margin of 6.28%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.35 earnings per share. equities analysts forecast that Citigroup will post 6.48 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 25th. Shareholders of record on Monday, May 7th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Friday, May 4th. Citigroup’s payout ratio is 24.02%.

In other Citigroup news, CFO John C. Gerspach sold 12,966 shares of Citigroup stock in a transaction that occurred on 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 this hyperlink. 0.11% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in C. Sawyer & Company Inc acquired a new position in shares of Citigroup in the 4th quarter worth approximately $117,000. Baldwin Brothers Inc. MA boosted its holdings in shares of Citigroup by 88.4% in the 4th quarter. Baldwin Brothers Inc. MA now owns 1,598 shares of the financial services provider’s stock worth $119,000 after acquiring an additional 750 shares in the last quarter. Stelac Advisory Services LLC acquired a new position in shares of Citigroup in the 1st quarter worth approximately $116,000. Risk Paradigm Group LLC boosted its holdings in shares of Citigroup by 829.2% in the 4th quarter. Risk Paradigm Group LLC now owns 1,942 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 1,733 shares in the last quarter. Finally, Bedel Financial Consulting Inc. acquired a new position in shares of Citigroup in the 1st quarter worth approximately $133,000. 76.78% of the stock is currently owned by institutional investors.

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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