Citigroup Target of Unusually Large Options Trading (NYSE:C)

Citigroup Inc. (NYSE:C - Get Free Report) saw some unusual options trading activity on Thursday. Investors purchased 122,419 call options on the stock. This represents an increase of approximately 26% compared to the typical daily volume of 97,264 call options.

Insider Activity at Citigroup

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the sale, the director now owns 13,048 shares in the company, valued at approximately $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Citigroup

Institutional investors have recently bought and sold shares of the stock. Orion Capital Management LLC bought a new position in Citigroup during the fourth quarter valued at $28,000. MorganRosel Wealth Management LLC bought a new position in Citigroup during the first quarter valued at $28,000. American National Bank & Trust bought a new position in Citigroup during the first quarter valued at $29,000. Accent Capital Management LLC lifted its position in Citigroup by 106.0% during the first quarter. Accent Capital Management LLC now owns 412 shares of the company's stock valued at $29,000 after purchasing an additional 212 shares during the last quarter. Finally, Truvestments Capital LLC lifted its position in Citigroup by 131.6% during the first quarter. Truvestments Capital LLC now owns 433 shares of the company's stock valued at $31,000 after purchasing an additional 246 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Price Performance

Shares of NYSE C traded up $0.04 during midday trading on Friday, reaching $84.41. The stock had a trading volume of 21,831,230 shares, compared to its average volume of 14,571,706. The stock has a 50-day moving average of $74.53 and a 200-day moving average of $73.63. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $157.66 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 0.66 and a beta of 1.33. Citigroup has a 12-month low of $53.51 and a 12-month high of $84.79.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.84 by $0.12. The firm had revenue of $21.60 billion during the quarter, compared to analysts' expectations of $21.34 billion. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. As a group, research analysts anticipate that Citigroup will post 7.53 EPS for the current fiscal year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 5th were paid a dividend of $0.56 per share. The ex-dividend date was Monday, May 5th. This represents a $2.24 annualized dividend and a yield of 2.65%. Citigroup's payout ratio is 35.39%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. TD Cowen assumed coverage on shares of Citigroup in a research note on Thursday, May 15th. They issued a "hold" rating and a $83.00 target price on the stock. Bank of America upped their target price on shares of Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday. Morgan Stanley upped their target price on shares of Citigroup from $90.00 to $94.00 and gave the stock an "overweight" rating in a research note on Monday, June 23rd. Wall Street Zen downgraded shares of Citigroup from a "hold" rating to a "sell" rating in a research note on Friday. Finally, Piper Sandler reiterated an "overweight" rating and issued a $77.00 target price (down previously from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $84.03.

Citigroup Company Profile

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.