Meritage Portfolio Management Sells 723 Shares of Citigroup Inc. (NYSE:C)

Meritage Portfolio Management lowered its stake in shares of Citigroup Inc. (NYSE:C) by 0.8% during the fourth quarter, Holdings Channel reports. The fund owned 91,212 shares of the company’s stock after selling 723 shares during the period. Meritage Portfolio Management’s holdings in Citigroup were worth $4,692,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in C. Bailard Inc. boosted its stake in shares of Citigroup by 2.4% in the 4th quarter. Bailard Inc. now owns 53,720 shares of the company’s stock valued at $2,763,000 after purchasing an additional 1,275 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Citigroup by 6.7% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 41,602 shares of the company’s stock valued at $2,140,000 after purchasing an additional 2,627 shares during the last quarter. Atria Wealth Solutions Inc. boosted its stake in shares of Citigroup by 14.2% in the 4th quarter. Atria Wealth Solutions Inc. now owns 138,698 shares of the company’s stock valued at $7,135,000 after purchasing an additional 17,257 shares during the last quarter. Alaska Permanent Fund Corp boosted its stake in shares of Citigroup by 1.3% in the 4th quarter. Alaska Permanent Fund Corp now owns 48,946 shares of the company’s stock valued at $2,518,000 after purchasing an additional 646 shares during the last quarter. Finally, Schnieders Capital Management LLC boosted its stake in shares of Citigroup by 34.9% in the 4th quarter. Schnieders Capital Management LLC now owns 13,237 shares of the company’s stock valued at $681,000 after purchasing an additional 3,424 shares during the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on C shares. Piper Sandler increased their price target on shares of Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Jefferies Financial Group lifted their price objective on shares of Citigroup from $56.00 to $65.00 and gave the company a “hold” rating in a report on Monday, April 8th. Oppenheimer lowered their price objective on shares of Citigroup from $88.00 to $87.00 and set an “outperform” rating on the stock in a report on Monday, April 15th. The Goldman Sachs Group reissued a “buy” rating on shares of Citigroup in a research note on Monday, April 1st. Finally, BMO Capital Markets cut shares of Citigroup from an “outperform” rating to a “market perform” rating and set a $57.00 target price for the company. in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.91.

Citigroup Price Performance

NYSE C traded down $0.68 during trading on Thursday, hitting $61.79. 13,194,908 shares of the company’s stock were exchanged, compared to its average volume of 17,041,756. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50. The company has a market cap of $118.35 billion, a PE ratio of 18.23, a P/E/G ratio of 0.94 and a beta of 1.52. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $63.90. The stock’s 50 day moving average price is $58.81 and its two-hundred day moving average price is $51.70.

Citigroup (NYSE:C) last released its quarterly earnings results on Friday, April 12th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.29. The company had revenue of $21.10 billion for the quarter, compared to analysts’ expectations of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.86 earnings per share. Research analysts expect that Citigroup Inc. will post 5.97 EPS for the current year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Monday, May 6th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.43%. The ex-dividend date is Friday, May 3rd. Citigroup’s payout ratio is presently 62.72%.

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.