Citigroup Inc. (NYSE: C) stock fell -3.09% on Wednesday to $44.49 against a previous-day closing price of $45.91. With 23.68 million shares changed hands, the volume of the stock remained heavier than its average volume of 19.0 million shares. During the session, the Banks – Diversified company that operates in wider Financial sector, reached to the highest price of $45.24 whereas the lowest price it dropped to was $44.21. The 52-week range on C shows that it touched its highest point at $54.56 and its lowest point at $40.01 during that stretch. It currently has a 1-year price target of $57.48. With its current market cap of 87.90 billion, C has annualized dividend of $2.04 while the current yield stands at 4.59%. Beta for the stock currently stands at 1.56.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of C was down-trending over the past week, with a drop of -5.50%, but this was down by -7.12% over a month. Three-month performance dropped to -11.69% while six-month performance fell -8.98%. The stock lost -15.69% in the past year, while it has lost -1.64% so far this year. A look at the trailing 12-month EPS for C yields 7.28 with Next year EPS estimates of 6.36. For the next quarter, that number is 1.65. This implies an EPS growth rate of -29.90% for this year and 1.76% for next year. EPS is expected to decline by -6.22% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 5.50%.
Float and Shares Shorts:
At present, 1.94 billion C shares are outstanding with a float of 1.93 billion shares on hand for trading. On Apr 27, 2023, short shares totaled 30.51 million, which was 1.57% higher than short shares on Mar 30, 2023. In addition to Ms. Jane Nind Fraser as the firm’s CEO & Director, Mr. Mark A.L. Mason serves as its Chief Financial Officer.
Through their ownership of 73.58% of C’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 37.34% of C, in contrast to 35.84% held by mutual funds. Shares owned by individuals account for 0.58%. As the largest shareholder in C with 8.29% of the stake, The Vanguard Group, Inc. holds 161,214,260 shares worth 161,214,260. A second-largest stockholder of C, BlackRock Fund Advisors, holds 92,113,215 shares, controlling over 4.74% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in C, holding 82,521,415 shares or 4.25% stake. With a 2.94% stake in C, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 57,162,820 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.34% of C stock, is the second-largest Mutual Fund holder. It holds 45,461,363 shares valued at 2.14 billion. Fidelity 500 Index Fund holds 1.10% of the stake in C, owning 21,431,949 shares worth 1.01 billion.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for C since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With C analysts setting a high price target of $95.00 and a low target of $45.00, the average target price over the next 12 months is $56.93. Based on these targets, C could surge 113.53% to reach the target high and rise by 1.15% to reach the target low. Reaching the average price target will result in a growth of 27.96% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded C stock several times over the past three months with 22 Buys and 3 Sells. In these transactions, 71,896 shares were bought while 16,576 shares were sold. The number of buy transactions has increased to 100 while that of sell transactions has risen to 29 over the past year. The total number of shares bought during that period was 1,505,393 while 264,495 shares were sold.