6 Meridian grew its stake in shares of Citigroup Inc (NYSE:C) by 17.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 122,690 shares of the financial services provider’s stock after acquiring an additional 18,311 shares during the period. 6 Meridian’s holdings in Citigroup were worth $8,475,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Personal Wealth Partners bought a new position in shares of Citigroup in the second quarter worth approximately $27,000. Centaurus Financial Inc. increased its position in shares of Citigroup by 95.1% in the first quarter. Centaurus Financial Inc. now owns 1,713 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 835 shares during the last quarter. Mcmillion Capital Management Inc. bought a new position in shares of Citigroup in the second quarter worth approximately $31,000. Garrett Wealth Advisory Group LLC bought a new position in shares of Citigroup in the third quarter worth approximately $33,000. Finally, Bray Capital Advisors increased its position in shares of Citigroup by 257.4% in the second quarter. Bray Capital Advisors now owns 486 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 76.69% of the company’s stock.
Several research analysts recently weighed in on the stock. Barclays upped their price objective on shares of Citigroup from $83.00 to $86.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Vining Sparks upgraded shares of Citigroup to a “buy” rating and set a $80.00 price target on the stock in a research report on Wednesday, October 9th. BMO Capital Markets cut shares of Citigroup to a “hold” rating in a research report on Friday, July 26th. ValuEngine cut shares of Citigroup from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods upgraded shares of Citigroup from a “market perform” rating to an “outperform” rating and increased their price target for the company from $74.00 to $86.00 in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. Citigroup has a consensus rating of “Buy” and an average target price of $79.75.
In other news, insider Michael Whitaker sold 7,500 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $62.03, for a total transaction of $465,225.00. Following the completion of the sale, the insider now owns 93,848 shares of the company’s stock, valued at $5,821,391.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.09% of the company’s stock.
Shares of NYSE C opened at $72.06 on Wednesday. The stock has a market capitalization of $162.22 billion, a P/E ratio of 9.85, a PEG ratio of 0.82 and a beta of 1.80. Citigroup Inc has a one year low of $48.42 and a one year high of $73.08. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.00 and a quick ratio of 1.01. The firm’s 50 day simple moving average is $68.76 and its two-hundred day simple moving average is $67.76.
Citigroup (NYSE:C) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.12. The firm had revenue of $18.57 billion during the quarter, compared to analyst estimates of $18.54 billion. Citigroup had a return on equity of 10.16% and a net margin of 18.28%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.73 earnings per share. As a group, equities analysts expect that Citigroup Inc will post 7.55 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 4th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.83%. Citigroup’s dividend payout ratio (DPR) is presently 30.68%.
Citigroup Company Profile
Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).
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