Meridian Wealth Management LLC Purchases New Holdings in Citigroup Inc. (NYSE:C)

Meridian Wealth Management LLC purchased a new stake in Citigroup Inc. (NYSE:C) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 25,809 shares of the company’s stock, valued at approximately $1,616,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MONECO Advisors LLC lifted its position in Citigroup by 2.9% in the second quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock valued at $352,000 after acquiring an additional 157 shares during the last quarter. Lifestyle Asset Management Inc. lifted its position in Citigroup by 4.5% in the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock valued at $233,000 after acquiring an additional 160 shares during the last quarter. Legacy Capital Group California Inc. raised its holdings in shares of Citigroup by 1.0% in the second quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock valued at $1,053,000 after buying an additional 169 shares during the last quarter. Grove Bank & Trust raised its holdings in shares of Citigroup by 7.1% in the third quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock valued at $161,000 after buying an additional 170 shares during the last quarter. Finally, MWA Asset Management raised its holdings in shares of Citigroup by 1.4% in the third quarter. MWA Asset Management now owns 12,585 shares of the company’s stock valued at $788,000 after buying an additional 173 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Performance

Shares of C opened at $69.84 on Friday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $132.09 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 0.77 and a beta of 1.44. The company’s 50 day simple moving average is $64.32 and its 200 day simple moving average is $62.84. Citigroup Inc. has a 1 year low of $44.56 and a 1 year high of $70.20.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.20. The business had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.52 earnings per share. On average, sell-side analysts predict that Citigroup Inc. will post 5.85 EPS for the current year.

Citigroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s payout ratio is 64.93%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on C. Evercore ISI upped their target price on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Morgan Stanley reduced their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Oppenheimer upped their target price on shares of Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Bank of America boosted their price target on shares of Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Barclays boosted their price target on shares of Citigroup from $63.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Citigroup Profile

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.