Citigroup (NYSE:C) Stock Price Down 0% - Here's Why

Citigroup Inc. (NYSE:C - Get Free Report)'s share price traded down 0% during trading on Friday . The company traded as low as $67.76 and last traded at $68.13. 2,687,156 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 14,389,860 shares. The stock had previously closed at $68.16.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Bank of America cut their target price on Citigroup from $90.00 to $89.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Piper Sandler reissued an "overweight" rating and set a $77.00 target price (down previously from $83.00) on shares of Citigroup in a research report on Wednesday, April 16th. The Goldman Sachs Group cut their price objective on Citigroup from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Wednesday, March 19th. Barclays upgraded shares of Citigroup from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $70.00 to $95.00 in a research report on Monday, January 6th. Finally, Oppenheimer reduced their target price on shares of Citigroup from $110.00 to $102.00 and set an "outperform" rating for the company in a research report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Citigroup presently has an average rating of "Moderate Buy" and a consensus target price of $84.61.

Citigroup Stock Up 0.5 %

The company has a 50 day moving average of $69.38 and a 200-day moving average of $71.15. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $128.88 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 0.64 and a beta of 1.29.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $21.34 billion. On average, equities analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Monday, May 5th. Citigroup's payout ratio is currently 35.39%.

Citigroup announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the company to purchase up to 13.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Citigroup

In related news, insider Sara Wechter sold 15,125 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $81.01, for a total value of $1,225,276.25. Following the sale, the insider now directly owns 109,780 shares of the company's stock, valued at $8,893,277.80. This trade represents a 12.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $83.21, for a total value of $4,864,872.65. Following the completion of the sale, the chief financial officer now owns 217,331 shares in the company, valued at approximately $18,084,112.51. This represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Citigroup

Institutional investors and hedge funds have recently modified their holdings of the stock. Core Alternative Capital lifted its position 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 acquiring an additional 171 shares during the period. Orion Capital Management LLC bought a new stake in shares of Citigroup in the 4th quarter worth approximately $28,000. MorganRosel Wealth Management LLC purchased a new stake in shares of Citigroup in the 1st quarter worth approximately $28,000. American National Bank & Trust purchased a new stake in shares of Citigroup in the 1st quarter worth approximately $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in Citigroup during the 4th quarter valued at approximately $34,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

About Citigroup

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.