Short Interest in Citigroup Inc (NYSE:C) Expands By 13.2%

Citigroup Inc (NYSE:C) saw a large growth in short interest in August. As of August 31st, there was short interest totalling 18,286,100 shares, a growth of 13.2% from the July 31st total of 16,148,100 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average daily trading volume, of 13,610,000 shares, the days-to-cover ratio is currently 1.3 days.

In related news, insider Michael Whitaker sold 7,500 shares of Citigroup stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $62.03, for a total value of $465,225.00. Following the completion of the sale, the insider now directly owns 93,848 shares in the company, valued at approximately $5,821,391.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Citigroup in the 2nd quarter worth approximately $402,000. EP Wealth Advisors LLC bought a new position in shares of Citigroup during the 2nd quarter valued at approximately $276,000. Atria Investments LLC increased its position in shares of Citigroup by 203.7% during the 2nd quarter. Atria Investments LLC now owns 84,064 shares of the financial services provider’s stock valued at $5,279,000 after purchasing an additional 56,383 shares during the last quarter. RFG Advisory LLC bought a new position in shares of Citigroup during the 2nd quarter valued at approximately $219,000. Finally, Arjuna Capital increased its position in shares of Citigroup by 2.5% during the 2nd quarter. Arjuna Capital now owns 8,086 shares of the financial services provider’s stock valued at $566,000 after purchasing an additional 196 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

NYSE C traded up $1.06 during trading hours on Friday, reaching $70.36. The company’s stock had a trading volume of 12,115,488 shares, compared to its average volume of 13,822,949. The firm’s 50-day moving average price is $65.97 and its 200-day moving average price is $66.54. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.40. Citigroup has a 1 year low of $48.42 and a 1 year high of $75.24. The company has a market capitalization of $155.83 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 0.75 and a beta of 1.78.

Citigroup (NYSE:C) last posted its quarterly earnings results on Monday, July 15th. The financial services provider reported $1.95 EPS for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.17. Citigroup had a return on equity of 10.10% and a net margin of 18.24%. The company had revenue of $18.76 billion for the quarter, compared to analysts’ expectations of $18.49 billion. During the same period in the previous year, the firm earned $1.63 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. Equities research analysts anticipate that Citigroup will post 7.56 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Monday, August 5th were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This is a boost from Citigroup’s previous quarterly dividend of $0.45. This represents a $2.04 dividend on an annualized basis and a yield of 2.90%. Citigroup’s payout ratio is currently 30.68%.

C has been the topic of several research reports. Wells Fargo & Co set a $85.00 target price on Citigroup and gave the stock a “buy” rating in a research report on Friday, August 16th. Berenberg Bank set a $78.00 target price on Citigroup and gave the stock a “buy” rating in a research report on Monday, June 17th. JPMorgan Chase & Co. raised their target price on Citigroup from $75.00 to $77.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. ValuEngine cut Citigroup from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Keefe, Bruyette & Woods raised Citigroup from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $74.00 to $86.00 in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $79.12.

About Citigroup

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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