Investors purchased shares of Citigroup Inc. (NYSE:C) on weakness during trading hours on Thursday. $244.02 million flowed into the stock on the tick-up and $212.12 million flowed out of the stock on the tick-down, for a money net flow of $31.90 million into the stock. Of all stocks tracked, Citigroup had the 23rd highest net in-flow for the day. Citigroup traded down ($1.21) for the day and closed at $67.22
Several research analysts recently commented on C shares. Nomura reaffirmed a “buy” rating and issued a $69.00 target price on shares of Citigroup in a research note on Monday, April 17th. Zacks Investment Research downgraded shares of Citigroup from a “hold” rating to a “sell” rating in a research note on Monday, June 19th. Vetr raised shares of Citigroup from a “buy” rating to a “strong-buy” rating and set a $73.42 target price on the stock in a research note on Monday, June 26th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $78.00 target price (up from $77.00) on shares of Citigroup in a research note on Thursday, May 4th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $68.00 target price on shares of Citigroup in a research note on Friday, July 7th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $69.08.
The stock has a market cap of $182.00 billion, a P/E ratio of 13.37 and a beta of 1.48. The stock has a 50-day moving average price of $67.22 and a 200 day moving average price of $61.90.
Citigroup (NYSE:C) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.07. The business had revenue of $17.90 billion during the quarter, compared to the consensus estimate of $17.38 billion. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company earned $1.24 earnings per share. On average, equities analysts expect that Citigroup Inc. will post $5.22 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Monday, August 7th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, August 3rd. This is an increase from Citigroup’s previous quarterly dividend of $0.16. Citigroup’s dividend payout ratio (DPR) is currently 25.55%.
Citigroup announced that its Board of Directors has authorized a stock repurchase program on Wednesday, June 28th that allows the company to repurchase $15.60 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 8.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
In other Citigroup news, insider Jeffrey R. Walsh sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $68.97, for a total value of $344,850.00. Following the completion of the sale, the insider now owns 56,394 shares of the company’s stock, valued at $3,889,494.18. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.10% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Catamount Wealth Management purchased a new stake in Citigroup during the second quarter worth approximately $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in Citigroup by 206.0% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the financial services provider’s stock worth $102,000 after buying an additional 1,030 shares during the period. Patten Group Inc. increased its stake in Citigroup by 6.6% in the first quarter. Patten Group Inc. now owns 1,765 shares of the financial services provider’s stock worth $105,000 after buying an additional 110 shares during the period. Dubuque Bank & Trust Co. increased its stake in Citigroup by 60.8% in the second quarter. Dubuque Bank & Trust Co. now owns 1,584 shares of the financial services provider’s stock worth $106,000 after buying an additional 599 shares during the period. Finally, Arrow Financial Corp increased its stake in Citigroup by 4.7% in the first quarter. Arrow Financial Corp now owns 1,896 shares of the financial services provider’s stock worth $113,000 after buying an additional 85 shares during the period. 74.89% of the stock is owned by hedge funds and other institutional investors.
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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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