Citigroup (NYSE:C) Stock Price Down 2.2% - Time to Sell?

Citigroup Inc. (NYSE:C - Get Free Report) shares fell 2.2% during trading on Friday . The company traded as low as $60.08 and last traded at $60.27. 5,792,213 shares changed hands during trading, a decline of 60% from the average session volume of 14,374,079 shares. The stock had previously closed at $61.59.

Analyst Upgrades and Downgrades

C has been the subject of several recent analyst reports. Oppenheimer decreased their price objective on shares of Citigroup from $110.00 to $102.00 and set an "outperform" rating for the company in a report on Friday, January 3rd. Evercore ISI dropped their price objective on Citigroup from $79.00 to $76.00 and set an "in-line" rating on the stock in a research note on Tuesday, April 1st. Morgan Stanley lowered their target price on Citigroup from $110.00 to $109.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. The Goldman Sachs Group cut their price target on shares of Citigroup from $90.00 to $80.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. Finally, StockNews.com cut shares of Citigroup from a "buy" rating to a "hold" rating in a research note on Sunday, March 30th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $84.54.

Remove Ads

Citigroup Stock Up 2.4 %

The business's 50 day moving average is $72.91 and its 200 day moving average is $71.01. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $118.84 billion, a price-to-earnings ratio of 10.61, 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 results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.22 by $0.12. The business had revenue of $19.58 billion for the quarter, compared to the consensus estimate of $19.51 billion. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. Citigroup's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 earnings per share. Equities analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Monday, May 5th. Citigroup's dividend payout ratio (DPR) is 37.65%.

Citigroup declared that its Board of Directors has approved a share buyback plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 13.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling at Citigroup

In other Citigroup news, CFO Mark Mason sold 58,465 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were 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 directly owns 217,331 shares of the company's stock, valued at $18,084,112.51. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the firm's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total transaction of $1,225,276.25. Following the transaction, the insider now owns 109,780 shares in the company, valued at $8,893,277.80. This represents a 12.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,590 shares of company stock worth $8,523,149. 0.08% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Citigroup

A number of large investors have recently bought and sold shares of C. Advisory Resource Group lifted its position in Citigroup by 3.7% during the 3rd quarter. Advisory Resource Group now owns 72,947 shares of the company's stock worth $4,566,000 after acquiring an additional 2,590 shares during the last quarter. Te Ahumairangi Investment Management Ltd lifted its position in shares of Citigroup by 6.7% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 202,691 shares of the company's stock worth $12,617,000 after purchasing an additional 12,810 shares during the last quarter. Anchor Investment Management LLC boosted its stake in Citigroup by 24.4% during the 3rd quarter. Anchor Investment Management LLC now owns 2,557 shares of the company's stock valued at $160,000 after purchasing an additional 501 shares during the period. World Investment Advisors LLC grew its holdings in Citigroup by 36.6% in the 3rd quarter. World Investment Advisors LLC now owns 21,527 shares of the company's stock valued at $1,348,000 after buying an additional 5,763 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its holdings in shares of Citigroup by 432.6% during the third quarter. Wilmington Savings Fund Society FSB now owns 38,191 shares of the company's stock worth $2,391,000 after buying an additional 31,020 shares during the last quarter. 71.72% of the stock is currently owned by 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.