Citigroup Inc. (NYSE:C) Shares Sold by Meridian Investment Counsel Inc.

by · The Markets Daily

Meridian Investment Counsel Inc. lowered its stake in shares of Citigroup Inc. (NYSE:C – Free Report) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,377 shares of the company’s stock after selling 500 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in Citigroup were worth $1,776,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. POM Investment Strategies LLC purchased a new stake in Citigroup during the 2nd quarter valued at about $25,000. Northwest Investment Counselors LLC acquired a new stake in shares of Citigroup during the third quarter worth about $28,000. Beacon Capital Management LLC boosted its position in Citigroup by 85.5% in the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after buying an additional 212 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Citigroup in the 2nd quarter worth approximately $31,000. Finally, Triad Wealth Partners LLC acquired a new stake in Citigroup during the 2nd quarter valued at approximately $32,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

C has been the subject of several recent research reports. Oppenheimer raised their target price on shares of Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Morgan Stanley reduced their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. The Goldman Sachs Group lowered their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Barclays raised their target price on Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, Evercore ISI upped their price objective on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Citigroup presently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Read Our Latest Stock Report on C

Citigroup Stock Up 0.9 %

Shares of NYSE C opened at $68.76 on Friday. The firm has a market cap of $130.04 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44. Citigroup Inc. has a 52-week low of $44.32 and a 52-week high of $70.20. The company’s 50-day simple moving average is $63.21 and its 200-day simple moving average is $62.59. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55.

Citigroup (NYSE:C – Get Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.31 by $0.20. The company had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. Citigroup’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business earned $1.52 EPS. Equities analysts predict that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.56 per share. The ex-dividend date was Monday, November 4th. This represents a $2.24 annualized dividend and a yield of 3.26%. Citigroup’s dividend payout ratio (DPR) is presently 64.93%.

Citigroup Company Profile

(Free Report)

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.

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