Meridian Wealth Management LLC Makes New Investment in Citigroup Inc. (NYSE:C)

Meridian Wealth Management LLC acquired a new position in shares of Citigroup Inc. (NYSE:C) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 25,809 shares of the company’s stock, valued at approximately $1,616,000.

Other large investors also recently added to or reduced their stakes in the company. POM Investment Strategies LLC bought a new position in shares of Citigroup during the second quarter valued at approximately $25,000. Northwest Investment Counselors LLC bought a new position in shares of Citigroup during the third quarter valued at approximately $28,000. Beacon Capital Management LLC grew its stake in shares of Citigroup by 85.5% during 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 bought a new position in shares of Citigroup during the second quarter valued at approximately $31,000. Finally, Triad Wealth Partners LLC bought a new position in shares of Citigroup during the second quarter valued at approximately $32,000. 71.72% of the stock is owned by institutional investors.

Citigroup Price Performance

Shares of C opened at $69.84 on Friday. The business’s 50-day moving average is $64.32 and its two-hundred day moving average is $62.84. The company has a market capitalization of $132.09 billion, a P/E ratio of 20.24, a P/E/G ratio of 0.77 and a beta of 1.44. 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 fifty-two week low of $44.56 and a fifty-two week high of $70.20.

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

Citigroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s dividend payout ratio (DPR) is presently 64.93%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on C shares. Bank of America increased their price objective on Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Evercore ISI increased their price objective on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group dropped their price objective on Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Oppenheimer increased their price objective on Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company increased their price objective on Citigroup from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. One equities 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 has an average rating of “Moderate Buy” and a consensus 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.