Investors Buy Citigroup (C) on Weakness

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Investors purchased shares of Citigroup Inc (NYSE:C) on weakness during trading hours on Monday. $191.59 million flowed into the stock on the tick-up and $141.04 million flowed out of the stock on the tick-down, for a money net flow of $50.55 million into the stock. Of all companies tracked, Citigroup had the 22nd highest net in-flow for the day. Citigroup traded down ($0.40) for the day and closed at $61.61

C has been the topic of a number of recent research reports. Standpoint Research upgraded shares of Citigroup from a “hold” rating to a “buy” rating and set a $49.70 price objective on the stock in a research note on Wednesday, December 26th. BMO Capital Markets raised shares of Citigroup from a “market perform” rating to an “outperform” rating and set a $58.90 price objective on the stock in a report on Tuesday, January 15th. They noted that the move was a valuation call. Morgan Stanley decreased their price objective on shares of Citigroup from $81.00 to $76.00 and set an “overweight” rating on the stock in a report on Tuesday, January 8th. TheStreet cut shares of Citigroup from a “b-” rating to a “c+” rating in a research report on Tuesday, December 11th. Finally, Macquarie raised shares of Citigroup from a “neutral” rating to an “outperform” rating in a research report on Monday, January 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $77.20.

The company has a current ratio of 0.99, a quick ratio of 1.00 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $159.37 billion, a PE ratio of 9.26, a price-to-earnings-growth ratio of 0.78 and a beta of 1.67.

Citigroup (NYSE:C) last issued its quarterly earnings data on Monday, January 14th. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.55 by $0.06. Citigroup had a return on equity of 9.93% and a net margin of 18.58%. The company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.57 billion. During the same period last year, the business earned $1.28 earnings per share. The business’s revenue was down 2.3% on a year-over-year basis. Equities research analysts forecast that Citigroup Inc will post 7.49 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 22nd. Investors of record on Monday, February 4th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, February 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.92%. Citigroup’s dividend payout ratio is 27.07%.

A number of large investors have recently made changes to their positions in the business. Evolution Wealth Advisors LLC acquired a new position in shares of Citigroup in the 4th quarter valued at approximately $29,000. Larson Financial Group LLC acquired a new position in shares of Citigroup in the 4th quarter valued at approximately $29,000. Signet Investment Advisory Group Inc. acquired a new position in shares of Citigroup in the 4th quarter valued at approximately $32,000. Blume Capital Management Inc. grew its position in shares of Citigroup by 4,615.4% in the 4th quarter. Blume Capital Management Inc. now owns 613 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 600 shares during the period. Finally, Acima Private Wealth LLC acquired a new position in shares of Citigroup in the 4th quarter valued at approximately $33,000. 73.99% of the stock is owned by hedge funds and other institutional investors.

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Citigroup Company Profile (NYSE:C)

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.

Further Reading: Quiet Period

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