Citigroup (NYSE:C) Trading Down 4.9%

Citigroup Inc (NYSE:C) traded down 4.9% during mid-day trading on Wednesday . The company traded as low as $61.18 and last traded at $61.63, 19,562,123 shares were traded during trading. An increase of 30% from the average session volume of 15,043,589 shares. The stock had previously closed at $64.83.

A number of research analysts have issued reports on the company. 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 report on Friday, July 26th. BMO Capital Markets cut Citigroup to a “hold” rating in a report on Friday, July 26th. Zacks Investment Research cut Citigroup from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Goldman Sachs Group raised Citigroup from a “neutral” rating to a “buy” rating and set a $64.51 price objective for the company in a report on Thursday, May 30th. Finally, Wells Fargo & Co set a $90.00 price objective on Citigroup and gave the company a “buy” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $79.40.

The company’s fifty day moving average price is $69.66. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $149.21 billion, a price-to-earnings ratio of 9.27, a P/E/G ratio of 0.72 and a beta of 1.76.

Citigroup (NYSE:C) last released its quarterly earnings results on Monday, July 15th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating 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 business had revenue of $18.76 billion during the quarter, compared to analysts’ expectations of $18.49 billion. During the same period in the previous year, the business posted $1.63 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities research analysts predict that Citigroup Inc will post 7.55 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 5th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.31%. This is a boost from Citigroup’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 2nd. Citigroup’s payout ratio is currently 30.68%.

Several institutional investors have recently added to or reduced their stakes in C. Cubist Systematic Strategies LLC grew its position in shares of Citigroup by 123.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 52,069 shares of the financial services provider’s stock worth $3,646,000 after buying an additional 28,764 shares during the period. Family Management Corp grew its position in shares of Citigroup by 2.5% during the 2nd quarter. Family Management Corp now owns 51,522 shares of the financial services provider’s stock worth $3,608,000 after buying an additional 1,273 shares during the period. Point72 Asset Management L.P. grew its position in shares of Citigroup by 87.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 835,111 shares of the financial services provider’s stock worth $58,483,000 after buying an additional 388,468 shares during the period. Hilltop Holdings Inc. grew its position in shares of Citigroup by 12.5% during the 2nd quarter. Hilltop Holdings Inc. now owns 8,067 shares of the financial services provider’s stock worth $565,000 after buying an additional 895 shares during the period. Finally, Morgan Stanley grew its position in shares of Citigroup by 3.4% during the 2nd quarter. Morgan Stanley now owns 12,856,381 shares of the financial services provider’s stock worth $900,333,000 after buying an additional 427,951 shares during the period. 77.65% of the stock is owned by institutional investors and hedge funds.

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 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).

Further Reading: Quiet Period

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