Citigroup Inc on Focus After Bearish Options Activity

 Citigroup Inc on Focus After Bearish Options Activity

In today’s session Citigroup Inc (C) recorded an unusually high (468) 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 468 contracts traded and 8094 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: C161118P00047000 closed last at: $0.74 or 13.8% up. About 6.18 million shares traded hands. Citigroup Inc (NYSE:C) has risen 16.04% since April 5, 2016 and is uptrending. It has outperformed by 14.09% the S&P500.

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 $54.02 average target is 8.60% above today’s ($49.74) stock price. Citigroup Inc. has been the topic of 56 analyst reports since July 21, 2015 according to StockzIntelligence Inc. On Tuesday, August 25 the stock rating was upgraded by Zacks to “Hold”. The company was maintained on Tuesday, January 19 by Keefe Bruyette & Woods. The rating was downgraded by SunTrust on Monday, August 24 to “Buy”. The stock has “Buy” rating given by Nomura on Wednesday, September 7. The firm has “Market Perform” rating by Wood given on Monday, April 18. Citigroup upgraded Citigroup Inc (NYSE:C) on Friday, December 11 to “Buy” rating. The rating was upgraded by Vetr on Monday, August 24 to “Hold”. The rating was maintained by RBC Capital Markets with “Outperform” on Tuesday, January 19. The stock of Citigroup Inc (NYSE:C) has “Buy” rating given on Monday, October 10 by Jefferies. Credit Suisse initiated the stock with “Neutral” rating in Monday, December 21 report.

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 dived, 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.
Qv Inc has invested 2.78% of its portfolio in Citigroup Inc (NYSE:C). White Pine Capital holds 0.29% or 16,044 shares in its portfolio. Teewinot Capital Advisers Llc last reported 6.68% of its portfolio in the stock. Keybank Association Oh holds 78,580 shares or 0.02% of its portfolio. Virginia Retirement System Et Al, a Virginia-based fund reported 893,510 shares. Armstrong Shaw Assoc Ct reported 200,555 shares or 2.17% of all its holdings. Moreover, Gulf Natl Bank (Uk) Ltd has 0.64% invested in Citigroup Inc (NYSE:C) for 894,154 shares. Tegean Capital Management Ltd reported 125,000 shares or 3.87% of all its holdings. San Francisco Sentry Group Inc (Ca) holds 0.2% or 7,866 shares in its portfolio. First Tru Advsrs Lp, a Illinois-based fund reported 528,207 shares. Blackrock Group holds 0.57% of its portfolio in Citigroup Inc (NYSE:C) for 25.86M shares. Intrust Bancorp Na holds 34,501 shares or 0.59% of its portfolio. Carret Asset Limited Liability has invested 0.24% of its portfolio in Citigroup Inc (NYSE:C). Pinnacle Assocs Ltd last reported 0.3% of its portfolio in the stock. Vantage Invest Advsrs Limited Company has 0.02% invested in the company for 1,408 shares.

Insider Transactions: Since May 24, 2016, the stock had 0 insider purchases, and 2 selling transactions for $361,860 net activity. 36 shares with value of $1,649 were sold by RODIN JUDITH on Tuesday, May 24. MURRAY JOSEPH MICHAEL sold $360,211 worth of stock or 8,122 shares.

Citigroup Inc. is a financial services holding company. The company has a market cap of $140.59 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 10.73 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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