Investors Buy Shares of Citigroup (C) on Weakness

Investors purchased shares of Citigroup (NYSE:C) on weakness during trading on Friday. $240.41 million flowed into the stock on the tick-up and $157.29 million flowed out of the stock on the tick-down, for a money net flow of $83.12 million into the stock. Of all companies tracked, Citigroup had the 10th highest net in-flow for the day. Citigroup traded down ($0.87) for the day and closed at $68.44

Several research firms have commented on C. ValuEngine lowered shares of Citigroup from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. BMO Capital Markets reiterated a “hold” rating and issued a $76.00 price objective on shares of Citigroup in a research note on Friday, April 13th. Daiwa Capital Markets lowered shares of Citigroup from a “strong-buy” rating to a “buy” rating and set a $78.00 price objective for the company. in a research note on Thursday, May 17th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $74.00 price objective on shares of Citigroup in a research note on Thursday, April 5th. Finally, Morgan Stanley decreased their price objective on shares of Citigroup from $93.00 to $88.00 and set an “overweight” rating for the company in a research note on Monday, April 30th. 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. The company presently has an average rating of “Hold” and a consensus price target of $80.79.

The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $180.52 billion, a PE ratio of 12.84, a P/E/G ratio of 1.02 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 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.07. The company had revenue of $18.87 billion during the quarter, compared to the consensus estimate of $18.89 billion. Citigroup had a negative net margin of 6.28% and a positive return on equity of 8.13%. Citigroup’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the firm earned $1.35 EPS. analysts forecast that Citigroup will post 6.48 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 25th. Investors of record on Monday, May 7th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Friday, May 4th. Citigroup’s dividend payout ratio (DPR) is presently 24.02%.

In related news, CFO John C. Gerspach sold 12,966 shares of the firm’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $72.31, for a total value of $937,571.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Suntrust Banks Inc. boosted its holdings in Citigroup by 9.4% in the 1st quarter. Suntrust Banks Inc. now owns 255,341 shares of the financial services provider’s stock valued at $17,234,000 after purchasing an additional 22,037 shares during the period. BKD Wealth Advisors LLC boosted its holdings in Citigroup by 41.2% in the 1st quarter. BKD Wealth Advisors LLC now owns 13,195 shares of the financial services provider’s stock valued at $891,000 after purchasing an additional 3,847 shares during the period. Summit Trail Advisors LLC boosted its holdings in Citigroup by 39.2% in the 1st quarter. Summit Trail Advisors LLC now owns 25,440 shares of the financial services provider’s stock valued at $1,103,000 after purchasing an additional 7,158 shares during the period. Derby & Company Inc. boosted its holdings in Citigroup by 6.7% in the 1st quarter. Derby & Company Inc. now owns 11,712 shares of the financial services provider’s stock valued at $791,000 after purchasing an additional 731 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in Citigroup by 3.0% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 59,403 shares of the financial services provider’s stock valued at $4,010,000 after purchasing an additional 1,737 shares during the period. 76.78% of the stock is owned by institutional investors.

Citigroup Company Profile

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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