Citigroup Inc. (NYSE:C) Sees Large Increase in Short Interest

Citigroup Inc. (NYSE:C) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 31,280,000 shares, a growth of 7.5% from the May 31st total of 29,090,000 shares. Currently, 1.7% of the shares of the company are sold short. Based on an average daily volume of 13,010,000 shares, the days-to-cover ratio is currently 2.4 days.

Institutional Trading of Citigroup

Several institutional investors have recently made changes to their positions in the stock. Kentucky Retirement Systems increased its position in Citigroup by 2.6% during the fourth quarter. Kentucky Retirement Systems now owns 153,131 shares of the company’s stock worth $7,877,000 after buying an additional 3,808 shares during the last quarter. Simplicity Solutions LLC raised its stake in Citigroup by 17.6% during the fourth quarter. Simplicity Solutions LLC now owns 27,791 shares of the company’s stock worth $1,430,000 after acquiring an additional 4,150 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Citigroup by 56.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,245,693 shares of the company’s stock valued at $64,078,000 after acquiring an additional 449,310 shares during the last quarter. GFS Advisors LLC acquired a new stake in Citigroup in the 4th quarter valued at about $2,003,000. Finally, TD Asset Management Inc increased its position in Citigroup by 21.8% in the fourth quarter. TD Asset Management Inc now owns 967,655 shares of the company’s stock worth $49,776,000 after purchasing an additional 173,137 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Trading Down 0.3 %

Shares of NYSE:C opened at $64.46 on Thursday. Citigroup has a 1-year low of $38.17 and a 1-year high of $65.22. The company has a 50 day moving average price of $62.19 and a 200 day moving average price of $58.23. The stock has a market capitalization of $122.95 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 0.99 and a beta of 1.46. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.29. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The business had revenue of $21.10 billion for the quarter, compared to analyst estimates of $20.46 billion. During the same quarter in the previous year, the business earned $1.86 earnings per share. The firm’s revenue was down 1.6% compared to the same quarter last year. On average, research analysts anticipate that Citigroup will post 5.85 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on C shares. The Goldman Sachs Group reissued a “buy” rating on shares of Citigroup in a report on Monday, April 1st. Oppenheimer cut their price target on Citigroup from $87.00 to $86.00 and set an “outperform” rating on the stock in a report on Tuesday, April 30th. HSBC increased their price objective on Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Evercore ISI lifted their target price on Citigroup from $60.00 to $62.00 and gave the company an “in-line” rating in a research note on Wednesday. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $80.00 price target on shares of Citigroup in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $65.16.

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.