Short Interest in Citigroup Inc (NYSE:C) Rises By 13.8%

Citigroup Inc (NYSE:C) was the recipient of a large increase in short interest in May. As of May 15th, there was short interest totalling 28,870,000 shares, an increase of 13.8% from the April 30th total of 25,380,000 shares. Based on an average daily volume of 28,920,000 shares, the days-to-cover ratio is presently 1.0 days. Currently, 1.4% of the shares of the stock are sold short.

A number of institutional investors have recently modified their holdings of the stock. Cim Investment Mangement Inc. raised its stake in Citigroup by 3.8% during the 1st quarter. Cim Investment Mangement Inc. now owns 16,217 shares of the financial services provider’s stock worth $683,000 after buying an additional 599 shares during the period. Phoenix Holdings Ltd. raised its stake in Citigroup by 0.5% during the 1st quarter. Phoenix Holdings Ltd. now owns 321,840 shares of the financial services provider’s stock worth $13,243,000 after buying an additional 1,744 shares during the period. Integrated Wealth Concepts LLC raised its stake in Citigroup by 13.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 34,543 shares of the financial services provider’s stock worth $1,455,000 after buying an additional 4,078 shares during the period. Carret Asset Management LLC raised its stake in Citigroup by 3.0% during the 1st quarter. Carret Asset Management LLC now owns 77,539 shares of the financial services provider’s stock worth $3,266,000 after buying an additional 2,224 shares during the period. Finally, EP Wealth Advisors LLC raised its stake in Citigroup by 72.9% during the 1st quarter. EP Wealth Advisors LLC now owns 8,242 shares of the financial services provider’s stock worth $347,000 after buying an additional 3,476 shares during the period. 78.58% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently commented on C. Standpoint Research upgraded Citigroup from a “hold” rating to a “buy” rating in a research report on Monday. Societe Generale upgraded Citigroup from a “sell” rating to a “hold” rating in a research report on Tuesday, April 14th. UBS Group raised their price target on Citigroup from $50.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Morgan Stanley reduced their price objective on Citigroup from $63.00 to $59.00 and set an “overweight” rating on the stock in a research note on Thursday, April 16th. Finally, Argus raised Citigroup from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Monday, April 20th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nineteen have assigned a buy rating to the stock. Citigroup has a consensus rating of “Buy” and an average price target of $77.68.

Shares of NYSE:C traded down $0.90 during midday trading on Friday, hitting $44.10. The company had a trading volume of 22,619,128 shares, compared to its average volume of 29,740,214. Citigroup has a 12 month low of $32.00 and a 12 month high of $83.11. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.52. The stock has a market cap of $94.66 billion, a price-to-earnings ratio of 6.10, a PEG ratio of 1.42 and a beta of 1.83. The firm has a fifty day simple moving average of $43.82 and a 200 day simple moving average of $64.56.

Citigroup (NYSE:C) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.16. The business had revenue of $20.73 billion for the quarter, compared to analyst estimates of $18.98 billion. Citigroup had a return on equity of 9.15% and a net margin of 16.56%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $1.87 EPS. Equities analysts forecast that Citigroup will post 3.05 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 4.63%. The ex-dividend date is Friday, May 1st. Citigroup’s payout ratio is presently 26.91%.

About Citigroup

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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