104,785 Shares in Citigroup Inc (C) Purchased by 6 Meridian

6 Meridian acquired a new position in Citigroup Inc (NYSE:C) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 104,785 shares of the financial services provider’s stock, valued at approximately $6,520,000.

Several other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in Citigroup by 96,369.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 41,578,475 shares of the financial services provider’s stock worth $2,982,839,000 after purchasing an additional 41,535,375 shares in the last quarter. CI Investments Inc. boosted its stake in Citigroup by 5.6% in the 3rd quarter. CI Investments Inc. now owns 1,599,257 shares of the financial services provider’s stock worth $114,731,000 after purchasing an additional 84,800 shares in the last quarter. Lowe Brockenbrough & Co. Inc. acquired a new stake in Citigroup in the 3rd quarter worth approximately $237,000. Laurel Wealth Advisors Inc. boosted its stake in Citigroup by 6.5% in the 3rd quarter. Laurel Wealth Advisors Inc. now owns 19,413 shares of the financial services provider’s stock worth $1,391,000 after purchasing an additional 1,181 shares in the last quarter. Finally, Northern Oak Wealth Management Inc. boosted its stake in Citigroup by 46.4% in the 3rd quarter. Northern Oak Wealth Management Inc. now owns 155,146 shares of the financial services provider’s stock worth $11,130,000 after purchasing an additional 49,140 shares in the last quarter. 71.29% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup stock opened at $67.38 on Tuesday. Citigroup Inc has a 52-week low of $48.42 and a 52-week high of $75.24. The firm has a market cap of $173.27 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 0.78 and a beta of 1.67. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.30.

Citigroup (NYSE:C) last released its earnings results on Monday, April 15th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.80 by $0.07. Citigroup had a net margin of 18.58% and a return on equity of 9.93%. The business had revenue of $18.58 billion during the quarter, compared to analyst estimates of $18.56 billion. During the same quarter in the prior year, the firm earned $1.68 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities research analysts anticipate that Citigroup Inc will post 7.42 EPS for the current fiscal year.

Several brokerages have commented on C. Oppenheimer lifted their price objective on shares of Citigroup from $94.00 to $99.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Standpoint Research upgraded shares of Citigroup from a “hold” rating to a “buy” rating and set a $49.70 price objective for the company in a research note on Wednesday, December 26th. BMO Capital Markets upgraded shares of Citigroup from a “market perform” rating to an “outperform” rating and set a $58.90 price objective for the company in a research note on Tuesday, January 15th. They noted that the move was a valuation call. Morgan Stanley decreased their price objective on shares of Citigroup from $81.00 to $76.00 and set an “overweight” rating for the company in a research note on Tuesday, January 8th. Finally, Macquarie upgraded shares of Citigroup from a “neutral” rating to an “outperform” rating in a research note on Monday, January 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $80.11.

In other news, insider Michael Whitaker sold 7,000 shares of the business’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $63.24, for a total transaction of $442,680.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider W. Bradford Hu sold 5,420 shares of the business’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $64.27, for a total transaction of $348,343.40. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.

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Citigroup Company Profile

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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