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

Meridian Investment Counsel Inc. lowered its stake in shares of Citigroup Inc. (NYSE:C) by 1.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,377 shares of the company’s stock after selling 500 shares during the period. Meridian Investment Counsel Inc.’s holdings in Citigroup were worth $1,776,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in shares of Citigroup by 123.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,716,442 shares of the company’s stock worth $2,005,749,000 after purchasing an additional 17,525,484 shares during the last quarter. Swedbank AB acquired a new stake in shares of Citigroup during the first quarter valued at about $253,286,000. Acadian Asset Management LLC raised its stake in shares of Citigroup by 527.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock valued at $158,521,000 after acquiring an additional 2,100,135 shares during the period. Caxton Associates LP lifted its holdings in shares of Citigroup by 7,393.3% in the 1st quarter. Caxton Associates LP now owns 2,015,390 shares of the company’s stock worth $127,453,000 after acquiring an additional 1,988,494 shares during the last quarter. Finally, Capital World Investors boosted its position in shares of Citigroup by 26.1% during the 1st quarter. Capital World Investors now owns 5,280,342 shares of the company’s stock worth $333,929,000 after purchasing an additional 1,092,980 shares during the period. 71.72% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Trading Up 0.9 %

C opened at $68.76 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. Citigroup Inc. has a one year low of $44.32 and a one year high of $70.20. The company has a market cap of $130.04 billion, a P/E ratio of 19.93, a PEG ratio of 0.77 and a beta of 1.44. The business’s 50-day simple moving average is $63.21 and its 200-day simple moving average is $62.59.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.31 by $0.20. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The company had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. During the same period in the prior year, the firm posted $1.52 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. As a group, equities research analysts expect that Citigroup Inc. will post 5.85 EPS for the current fiscal year.

Citigroup Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on C shares. Evercore ISI upped their price target on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 16th. Bank of America raised their target price on Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Oppenheimer boosted their price target on shares of Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Wells Fargo & Company increased their price target on shares of Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Barclays upped their target price 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 investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $73.00.

Citigroup Company 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.