Citigroup (NYSE:C) Trading Down 1.1% – Here’s Why

Shares of Citigroup Inc. (NYSE:C) were down 1.1% during trading on Monday . The company traded as low as $62.40 and last traded at $62.56. Approximately 2,337,254 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 17,835,605 shares. The stock had previously closed at $63.25.

Wall Street Analyst Weigh In

C has been the topic of a number of research reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $92.00 price target (down from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. Oppenheimer reduced their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Royal Bank of Canada dropped their price objective on shares of Citigroup from $85.00 to $78.00 and set an “outperform” rating on the stock in a report on Wednesday, April 16th. Truist Financial reduced their price target on Citigroup from $84.00 to $79.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. decreased their price target on Citigroup from $85.50 to $75.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and an average price target of $84.61.

Citigroup Trading Down 1.9 %

The company’s fifty day moving average is $71.12 and its 200-day moving average is $71.05. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $116.77 billion, a P/E ratio of 10.43, a P/E/G ratio of 0.64 and a beta of 1.29.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The company had revenue of $21.60 billion for the quarter, compared to the consensus estimate of $21.34 billion. As a group, sell-side analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a $0.56 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.61%. Citigroup’s dividend payout ratio is 35.39%.

Citigroup declared that its Board of Directors has approved a share buyback plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 13.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity at Citigroup

In other news, COO Anand Selvakesari sold 30,000 shares of Citigroup stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.10, for a total transaction of $2,433,000.00. Following the sale, the chief operating officer now directly owns 229,180 shares in the company, valued at approximately $18,586,498. The trade was a 11.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sara Wechter sold 15,125 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the completion of the sale, the insider now directly owns 109,780 shares in the company, valued at approximately $8,893,277.80. The trade was a 12.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,590 shares of company stock worth $8,523,149 over the last three months. Company insiders own 0.08% of the company’s stock.

Institutional Trading of Citigroup

Several institutional investors have recently bought and sold shares of C. Core Alternative Capital increased its holdings in Citigroup by 83.4% during the 4th quarter. Core Alternative Capital now owns 376 shares of the company’s stock valued at $26,000 after purchasing an additional 171 shares in the last quarter. Orion Capital Management LLC acquired a new stake in shares of Citigroup in the fourth quarter valued at $28,000. American National Bank & Trust bought a new position in shares of Citigroup in the first quarter valued at about $29,000. Mascagni Wealth Management Inc. acquired a new position in Citigroup during the 4th quarter worth about $34,000. Finally, Webster Bank N. A. grew its holdings in Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company’s stock worth $35,000 after acquiring an additional 300 shares during the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Company Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.