Stock Traders Purchase High Volume of Citigroup Call Options (NYSE:C)

Citigroup Inc. (NYSE:C) was the target of unusually large options trading activity on Friday. Stock traders purchased 179,173 call options on the company. This represents an increase of 17% compared to the average daily volume of 153,252 call options.

Institutional Investors Weigh In On Citigroup

Several institutional investors have recently modified their holdings of C. Orion Capital Management LLC bought a new stake in shares of Citigroup in the fourth quarter worth $26,000. Frazier Financial Advisors LLC bought a new position in Citigroup in the fourth quarter worth approximately $29,000. Beacon Capital Management LLC boosted its stake in shares of Citigroup by 85.5% during the 1st quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after acquiring an additional 212 shares during the last quarter. Beaird Harris Wealth Management LLC grew its position in shares of Citigroup by 1,962.1% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 598 shares of the company’s stock valued at $31,000 after acquiring an additional 569 shares during the period. Finally, Rakuten Securities Inc. purchased a new stake in shares of Citigroup in the 4th quarter worth $35,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Trading Down 1.8 %

Shares of C opened at $64.52 on Friday. Citigroup has a 1-year low of $38.17 and a 1-year high of $66.99. The firm’s 50-day moving average price is $62.68 and its 200-day moving average price is $58.95. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $123.07 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 0.93 and a beta of 1.46.

Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.12. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The company had revenue of $20.14 billion for the quarter, compared to the consensus estimate of $20.07 billion. During the same quarter in the prior year, the business posted $1.37 EPS. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. Sell-side analysts anticipate that Citigroup will post 5.86 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on C. StockNews.com upgraded Citigroup from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. Jefferies Financial Group increased their price target on Citigroup from $56.00 to $65.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Oppenheimer reduced their price objective on shares of Citigroup from $87.00 to $86.00 and set an “outperform” rating for the company in a report on Tuesday, April 30th. Piper Sandler upped their price target on Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, Morgan Stanley reissued an “overweight” rating and set a $65.00 target price on shares of Citigroup in a research report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $65.66.

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.