Traders Buy Shares of Citigroup (C) on Weakness Following Insider Selling

Investors purchased shares of Citigroup Inc (NYSE:C) on weakness during trading hours on Monday following insider selling activity. $240.21 million flowed into the stock on the tick-up and $147.84 million flowed out of the stock on the tick-down, for a money net flow of $92.37 million into the stock. Of all companies tracked, Citigroup had the 11th highest net in-flow for the day. Citigroup traded down ($1.10) for the day and closed at $69.16Specifically, insider Raja Akram sold 500 shares of the stock in a transaction on Thursday, July 19th. The stock was sold at an average price of $69.21, for a total transaction of $34,605.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Francisco Aristeguieta sold 15,000 shares of the stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $72.36, for a total value of $1,085,400.00. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

C has been the subject of a number of recent research reports. Morgan Stanley cut their price objective on Citigroup from $93.00 to $88.00 and set an “overweight” rating for the company in a research report on Monday, April 30th. ValuEngine downgraded Citigroup from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Daiwa Capital Markets downgraded Citigroup from a “strong-buy” rating to a “buy” rating and set a $78.00 price objective for the company. in a research report on Thursday, May 17th. Deutsche Bank upgraded Citigroup from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Wednesday, June 20th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $85.00 price objective on shares of Citigroup in a research report on Monday, July 16th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $81.65.

The firm has a market cap of $180.57 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 0.96 and a beta of 1.49. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.30.



The firm also recently announced a quarterly dividend, which will be paid on Friday, August 24th. Stockholders of record on Monday, August 6th will be issued a $0.45 dividend. The ex-dividend date is Friday, August 3rd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.57%. This is a positive change from Citigroup’s previous quarterly dividend of $0.32. Citigroup’s dividend payout ratio is presently 33.77%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legacy Advisors LLC raised its holdings in shares of Citigroup by 349.7% during the second quarter. Legacy Advisors LLC now owns 1,718 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 1,336 shares in the last quarter. Stelac Advisory Services LLC purchased a new stake in shares of Citigroup during the first quarter worth $116,000. IMA Wealth Inc. purchased a new stake in shares of Citigroup during the second quarter worth $129,000. Bedel Financial Consulting Inc. purchased a new stake in shares of Citigroup during the first quarter worth $133,000. Finally, Twin Tree Management LP raised its holdings in shares of Citigroup by 100.4% during the first quarter. Twin Tree Management LP now owns 2,013 shares of the financial services provider’s stock worth $136,000 after acquiring an additional 535,686 shares in the last quarter. Institutional investors own 76.07% of the company’s stock.

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.

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