Investors Buy Shares of Citigroup Inc. (C) on Weakness

Traders purchased shares of Citigroup Inc. (NYSE:C) on weakness during trading hours on Monday. $211.48 million flowed into the stock on the tick-up and $127.14 million flowed out of the stock on the tick-down, for a money net flow of $84.34 million into the stock. Of all stocks tracked, Citigroup had the 4th highest net in-flow for the day. Citigroup traded down ($0.25) for the day and closed at $75.39

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods set a $75.00 target price on Citigroup and gave the company a “buy” rating in a report on Sunday, August 13th. Wells Fargo & Company restated a “buy” rating on shares of Citigroup in a report on Monday, October 2nd. Credit Suisse Group restated a “buy” rating and set a $83.00 target price (up previously from $73.00) on shares of Citigroup in a report on Monday. They noted that the move was a valuation call. BidaskClub upgraded Citigroup from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Finally, Atlantic Securities restated an “overweight” rating and set a $85.00 target price (up previously from $75.00) on shares of Citigroup in a report on Tuesday, September 26th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $72.08.

The company’s 50 day moving average is $70.29 and its 200-day moving average is $65.12. The firm has a market cap of $204.83 billion, a P/E ratio of 15.05 and a beta of 1.45.

Citigroup (NYSE:C) last issued its earnings results on Friday, July 14th. The financial services provider reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.07. Citigroup had a return on equity of 7.32% and a net margin of 18.11%. The firm had revenue of $17.90 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the prior year, the business earned $1.24 earnings per share. The company’s revenue was up 2.0% compared to the same quarter last year. Equities analysts predict that Citigroup Inc. will post $5.20 EPS for the current fiscal year.

Citigroup announced that its Board of Directors has approved a share repurchase program on Wednesday, June 28th that authorizes the company to repurchase $15.60 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 8.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

In related news, CEO Francisco Aristeguieta sold 40,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $67.55, for a total value of $2,702,000.00. Following the completion of the transaction, the chief executive officer now owns 77,570 shares of the company’s stock, valued at approximately $5,239,853.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey R. Walsh sold 5,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $68.97, for a total value of $344,850.00. Following the completion of the transaction, the insider now directly owns 56,394 shares of the company’s stock, valued at approximately $3,889,494.18. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Citigroup by 2,718.7% in the 1st quarter. BlackRock Inc. now owns 196,415,461 shares of the financial services provider’s stock worth $11,749,573,000 after purchasing an additional 189,447,104 shares during the period. Amalgamated Bank raised its holdings in Citigroup by 1.0% in the 1st quarter. Amalgamated Bank now owns 195,156 shares of the financial services provider’s stock worth $11,674,000 after purchasing an additional 1,937 shares during the period. Shelton Capital Management raised its holdings in Citigroup by 13.9% in the 1st quarter. Shelton Capital Management now owns 60,400 shares of the financial services provider’s stock worth $3,613,000 after purchasing an additional 7,384 shares during the period. Brookfield Asset Management Inc. raised its holdings in Citigroup by 51.8% in the 1st quarter. Brookfield Asset Management Inc. now owns 43,390 shares of the financial services provider’s stock worth $2,596,000 after purchasing an additional 14,810 shares during the period. Finally, Wafra Investment Advisory Group Inc. NY raised its holdings in Citigroup by 138.0% in the 1st quarter. Wafra Investment Advisory Group Inc. NY now owns 203,317 shares of the financial services provider’s stock worth $12,162,000 after purchasing an additional 117,879 shares during the period. 75.37% of the stock is owned by institutional investors.

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Citigroup Company Profile

Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.

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