Meridian Wealth Management LLC Acquires 1,122 Shares of Citigroup Inc. $C

Meridian Wealth Management LLC boosted its stake in Citigroup Inc. (NYSE:C) by 4.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,643 shares of the company’s stock after acquiring an additional 1,122 shares during the period. Meridian Wealth Management LLC’s holdings in Citigroup were worth $2,268,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of C. Accent Capital Management LLC raised its stake in Citigroup by 106.0% in the first quarter. Accent Capital Management LLC now owns 412 shares of the company’s stock worth $29,000 after buying an additional 212 shares in the last quarter. Truvestments Capital LLC lifted its stake in shares of Citigroup by 131.6% in the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company’s stock valued at $31,000 after purchasing an additional 246 shares during the period. DHJJ Financial Advisors Ltd. boosted its position in shares of Citigroup by 157.1% during the second quarter. DHJJ Financial Advisors Ltd. now owns 414 shares of the company’s stock valued at $35,000 after purchasing an additional 253 shares in the last quarter. HHM Wealth Advisors LLC grew its stake in Citigroup by 805.2% in the first quarter. HHM Wealth Advisors LLC now owns 525 shares of the company’s stock worth $37,000 after purchasing an additional 467 shares during the period. Finally, WPG Advisers LLC bought a new position in Citigroup in the first quarter worth $38,000. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Performance

Shares of C opened at $100.24 on Friday. The company has a market cap of $179.35 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 0.83 and a beta of 1.37. The business’s fifty day simple moving average is $99.66 and its two-hundred day simple moving average is $90.00. Citigroup Inc. has a 12 month low of $55.51 and a 12 month high of $105.59. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.62.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, October 14th. The company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.35. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The firm had revenue of $22.09 billion for the quarter, compared to the consensus estimate of $20.92 billion. During the same period in the prior year, the company posted $1.51 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. Citigroup has set its FY 2025 guidance at EPS. Research analysts anticipate that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 3rd will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, November 3rd. Citigroup’s payout ratio is presently 33.71%.

Analyst Ratings Changes

Several brokerages recently issued reports on C. Bank of America increased their price target on shares of Citigroup from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Wells Fargo & Company lifted their target price on shares of Citigroup from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Weiss Ratings restated a “buy (b)” rating on shares of Citigroup in a research note on Wednesday, October 8th. The Goldman Sachs Group reiterated a “buy” rating and set a $118.00 price objective on shares of Citigroup in a research note on Tuesday, October 14th. Finally, Cowen reissued a “hold” rating and issued a $110.00 target price on shares of Citigroup in a research note on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $107.63.

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.