Citigroup Inc Can Burn Your Long Portfolio. Option Traders Are Bearish

 Citigroup Inc Can Burn Your Long Portfolio. Option Traders Are Bearish

In today’s session Citigroup Inc (C) recorded an unusually high (15,118) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious C decrease. With 15,118 contracts traded and 173064 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: C161118P00045000 closed last at: $1.06 or 2.9% up. About 7.41 million shares traded hands. Citigroup Inc (NYSE:C) has risen 13.10% since March 2, 2016 and is uptrending. It has outperformed by 4.84% the S&P500.

Analysts await Citigroup Inc (NYSE:C) to report earnings on October, 14. They expect $1.15 EPS, down 12.21% or $0.16 from last year’s $1.31 per share. C’s profit will be $3.39B for 10.60 P/E if the $1.15 EPS becomes a reality. After $1.25 actual EPS reported by Citigroup Inc for the previous quarter, Wall Street now forecasts -8.00% negative EPS growth.

Citigroup Inc (NYSE:C) Ratings Coverage

Out of 28 analysts covering Citigroup Inc. (NYSE:C), 16 rate it a “Buy”, 2 “Sell”, while 10 “Hold”. This means 57% are positive. $74 is the highest target while $4.0 is the lowest. The $54.11 average target is 10.93% above today’s ($48.78) stock price. Citigroup Inc. has been the topic of 55 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Vetr downgraded Citigroup Inc (NYSE:C) rating on Thursday, August 6. Vetr has “Hold” rating and $56.66 price target. Nomura maintained the stock with “Buy” rating in Wednesday, September 7 report. The firm has “Hold” rating given on Monday, August 24 by Vetr. On Tuesday, January 19 the stock rating was maintained by Keefe Bruyette & Woods with “Outperform”. Zacks upgraded it to “Hold” rating and $56 target price in Tuesday, August 25 report. On Friday, December 11 the stock rating was upgraded by Citigroup to “Buy”. The firm earned “Sector Weight” rating on Tuesday, January 5 by KeyBanc Capital Markets. The company was maintained on Tuesday, January 19 by Oppenheimer. Wood downgraded Citigroup Inc (NYSE:C) on Monday, April 18 to “Market Perform” rating. Credit Suisse initiated Citigroup Inc (NYSE:C) on Monday, December 21 with “Neutral” rating.

According to Zacks Investment Research, “Citigroup Inc. is a global financial services company. It provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management. The Company also offers various wholesale banking products and services, including fixed income and equity sales and trading, foreign exchange, prime brokerage, and equity and fixed income research services. Citigroup Inc. is based in New York.”

Insitutional Activity: The institutional sentiment decreased to 0.74 in Q2 2016. Its down 0.06, from 0.8 in 2016Q1. The ratio fall, as 93 funds sold all Citigroup Inc shares owned while 449 reduced positions. 62 funds bought stakes while 341 increased positions. They now own 2.00 billion shares or 2.42% less from 2.05 billion shares in 2016Q1.
Serv Automobile Association has 0.38% invested in the company for 2.52M shares. Wall Street Access Asset Mngmt Llc last reported 5,046 shares in the company. Richard Bernstein Advsrs Limited Liability Company last reported 0.44% of its portfolio in the stock. Glg Ltd Partnership, a United Kingdom-based fund reported 3,698 shares. Foundry Prtnrs Limited Com holds 452,536 shares or 1.09% of its portfolio. Credit Agricole S A has 0.26% invested in the company for 1.57M shares. Kcm Inv Advisors Limited Liability Company last reported 5,781 shares in the company. Credit Suisse Ag last reported 7.71M shares in the company. Moreover, Hilltop Incorporated has 0.26% invested in Citigroup Inc (NYSE:C) for 19,136 shares. Ameritas Prtnrs has invested 0.31% of its portfolio in Citigroup Inc (NYSE:C). Budros Ruhlin And Roe owns 5,698 shares or 0.08% of their US portfolio. Wesbanco National Bank & Trust Incorporated holds 0.02% or 8,796 shares in its portfolio. Covalent Prns Ltd Llc has invested 4.43% of its portfolio in Citigroup Inc (NYSE:C). Vaughan David Inc Il reported 7,006 shares or 0.02% of all its holdings. Point72 Asset Mgmt Limited Partnership last reported 150,800 shares in the company.

Insider Transactions: Since April 20, 2016, the stock had 0 insider buys, and 3 sales for $798,528 net activity. $1,649 worth of Citigroup Inc (NYSE:C) was sold by RODIN JUDITH. Hu W. Bradford also sold $436,668 worth of Citigroup Inc (NYSE:C) shares. MURRAY JOSEPH MICHAEL also sold $360,211 worth of Citigroup Inc (NYSE:C) shares.

Citigroup Inc. is a financial services holding company. The company has a market cap of $143.89 billion. The Company’s businesses provide consumers, firms, governments and institutions with a range of financial services and products, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management. It has a 10.27 P/E ratio. It operates through two divisions: Citicorp and Citi Holdings.

C Company Profile

Citigroup Inc. (Citi), incorporated on March 8, 1988, is a financial services holding company. The Company’s businesses provide consumers, firms, governments and institutions with a range of financial services and products, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management. The Firm operates through two divisions: Citicorp and Citi Holdings.

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