What’s Next for Citigroup Inc After Today’s Bearish Options Activity?

 What's Next for Citigroup Inc After Today's Bearish Options Activity?

In today’s session Citigroup Inc (C) recorded an unusually high (1,810) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the June, 2017 put, expecting serious C decrease. With 1,810 contracts traded and 1264 open interest for the Jun, 17 contract, it seems this is a quite bearish bet. The option with symbol: C170616P00060000 closed last at: $6.4 or 6.6% down. About 12.08 million shares traded hands. Citigroup Inc (NYSE:C) has risen 21.61% since April 25, 2016 and is uptrending. It has outperformed by 15.60% the S&P500.

Analysts await Citigroup Inc (NYSE:C) to report earnings on January, 18 before the open. They expect $1.09 earnings per share, up 2.83% or $0.03 from last year’s $1.06 per share. C’s profit will be $3.11 billion for 12.81 P/E if the $1.09 EPS becomes a reality. After $1.25 actual earnings per share reported by Citigroup Inc for the previous quarter, Wall Street now forecasts -12.80% negative EPS growth.

Citigroup Inc (NYSE:C) Ratings Coverage

Out of 28 analysts covering Citigroup Inc. (NYSE:C), 15 rate it a “Buy”, 2 “Sell”, while 11 “Hold”. This means 54% are positive. Citigroup Inc. has been the topic of 59 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Citigroup Inc (NYSE:C) has “Buy” rating given on Monday, November 30 by Guggenheim. The rating was downgraded by Wells Fargo on Friday, July 8 to “Market Perform”. CLSA maintained Citigroup Inc (NYSE:C) rating on Friday, September 23. CLSA has “Buy” rating and $63 price target. The firm earned “Overweight” rating on Thursday, April 7 by JP Morgan. The rating was maintained by Deutsche Bank on Wednesday, August 12 with “Hold”. The stock of Citigroup Inc (NYSE:C) has “Outperform” rating given on Tuesday, January 19 by Keefe Bruyette & Woods. The rating was downgraded by Jefferies to “Hold” on Monday, November 28. As per Monday, April 18, the company rating was downgraded by Wood. The firm earned “Buy” rating on Friday, August 14 by Zacks. The rating was upgraded by Vetr to “Hold” on Monday, August 24.

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 increased to 0.83 in 2016 Q2. Its up 0.09, from 0.74 in 2016Q1. The ratio improved, 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.
Moreover, M&T Bank has 0.19% invested in Citigroup Inc (NYSE:C) for 659,712 shares. Essex Fincl Incorporated has invested 0.27% of its portfolio in Citigroup Inc (NYSE:C). Price T Rowe Associates Incorporated Md holds 0.43% or 47.66 million shares in its portfolio. The New York-based Mathes Communications Incorporated has invested 0.55% in Citigroup Inc (NYSE:C). Locust Wood Cap Advisers Llc reported 20,565 shares or 0.1% of all its holdings. Janney Cap Lc has invested 0.87% of its portfolio in Citigroup Inc (NYSE:C). Prentiss Smith And Company Incorporated holds 0.05% of its portfolio in Citigroup Inc (NYSE:C) for 2,238 shares. Tctc Llc last reported 6,858 shares in the company. Hartford Inv Management owns 718,664 shares or 0.64% of their US portfolio. Moreover, Raymond James Trust Na has 0.09% invested in Citigroup Inc (NYSE:C) for 24,612 shares. Webster Bancorporation N A last reported 10,030 shares in the company. Calamos Wealth Management Limited Liability Com accumulated 46,532 shares or 0.35% of the stock. The Missouri-based Monetary Management Grp Incorporated has invested 0.01% in Citigroup Inc (NYSE:C). The Pennsylvania-based Mycio Wealth Prtnrs Limited has invested 0.04% in Citigroup Inc (NYSE:C). Moreover, Northern Corporation has 0.5% invested in Citigroup Inc (NYSE:C) for 36.23M shares.

Insider Transactions: Since July 20, 2016, the stock had 0 insider purchases, and 1 sale for $360,211 net activity. $360,211 worth of Citigroup Inc (NYSE:C) was sold by MURRAY JOSEPH MICHAEL on Wednesday, July 20.

Citigroup Inc. is a financial services holding company. The company has a market cap of $159.38 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 12.04 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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